Azerbaijan and BNY Mellon Explore Artificial Intelligence Expansion in Financial Markets

BNY Mellon and Azerbaijan Central Bank Discuss Expanding AI in Financial Sector

The Central Bank of Azerbaijan (CBA) recently held talks with representatives from the Bank of New York Mellon (BNY Mellon) to explore ways to expand the use of artificial intelligence (AI) within Azerbaijan's financial markets.

CBA Governor Taleh Kazimov met with a delegation led by BNY Mellon's Senior Executive Vice President, Hani Kablawi, during their visit to Azerbaijan. The discussion focused on several key areas, including the development of the country's financial markets and payment systems, current trends in capital markets, and the broader adoption of AI technologies.

Focus Areas of the Discussion

• Enhancing AI applications in financial services
• Improving cybersecurity measures across financial institutions
• Aligning efforts with the 2024–2026 Financial Sector Development Strategy of the CBA
• Exploring opportunities for future cooperation between Azerbaijan and BNY Mellon

The meeting highlighted the growing importance of AI in financial operations, risk management, and customer service. Both parties emphasized the need to strengthen cybersecurity, given the increased reliance on digital and AI-driven solutions in finance.

Expanding AI use is seen as a step toward improving efficiency and transparency in Azerbaijan’s financial sector. Collaboration with international partners like BNY Mellon provides access to advanced expertise and technology that can support this goal.

Why This Matters for Finance Professionals

For finance professionals working in Azerbaijan and the region, this initiative signals a shift toward more data-driven decision-making and automation. Understanding AI’s role in payment systems, capital markets, and cybersecurity will be essential for staying competitive.

Those interested in enhancing their AI skills in finance may find value in targeted training programs that focus on practical AI applications. For example, AI tools designed for finance professionals can offer insights into the latest technologies shaping the industry.

Looking Ahead

The partnership between Azerbaijan’s Central Bank and BNY Mellon aims to support sustainable growth and innovation in the financial sector. As AI continues to influence how markets operate, ongoing collaboration and knowledge sharing will be key to managing risks and leveraging new opportunities.