THE PROSPECTS OF ARTIFICIAL INTELLIGENCE TECHNOLOGIES ON THE DEVELOPMENT OF THE BANKING SYSTEM
Eshmurodova Sevinch Bahrom qizi
Qarshi State Technical University
2nd-year student, Banking Department
+998994190825
eshmurodovasevinch266@gmail.com
Abstract: The article discusses the use of artificial intelligence technologies in the banking sector. The focus is on simplifying customer service processes, reducing credit risks, detecting fraud, and strengthening cybersecurity.
Keywords: artificial intelligence, bank, digital services, security, lending.
Аннотация: В статье рассматриваются вопросы использования технологий искусственного интеллекта в банковской системе. Основное внимание уделено упрощению обслуживания клиентов, снижению кредитных рисков, выявлению мошенничества и повышению уровня кибербезопасности. Ключевые слова: искусственный интеллект, банк, цифровые услуги, безопасность, кредитование.
Introduction:
Today, major changes are occurring in the global financial market. Banks are no longer limited to simple transactions, accepting deposits, or issuing loans. Their main objective has increasingly become providing customers with convenient, fast, and secure services. One of the most significant technologies supporting this transformation is artificial intelligence (AI).Initially, artificial intelligence seemed like something found only in science-fiction movies. However, in today’s real world, AI technologies are actively involved in services ranging from bank cards to online applications. Therefore, discussing the future prospects of this technology is highly important.
Main Part:One of the first and simplest applications of artificial intelligence in banks is chatbots. Today, most banks have their own mobile applications, and when a customer asks a question through the app, the initial response is given by an automated system. Although this seems simple, it plays a crucial role. While a human operator needs time to answer and queues may occur, artificial intelligence can serve thousands of customers simultaneously.The second direction is risk assessment. Previously, bank employees examined customer documents, requested employment references, and often required guarantors.
Today, AI systems can analyze a customer’s financial behavior, spending patterns, and even mobile payment history to calculate the probability of loan repayment. This process is convenient for both the bank and the customer.Another important aspect is fraud detection. Thousands of transactions are carried out every day, and it is impossible to manually inspect all of them.
Artificial intelligence can detect unusual or suspicious activity among transactions. For example, if a customer usually uses their card only in Tashkent but suddenly attempts to withdraw a large amount of money abroad, the system stops the transaction automatically. This helps protect the customer’s funds.
Of course, these technologies also have challenges. First, developing and implementing such systems requires significant financial investment. Second, banking data is highly confidential, making its protection extremely important. Third, the shortage of qualified specialists is also a major issue.
Despite these challenges, the advantages of artificial intelligence outweigh its drawbacks. Competition in the banking sector is increasing every day. Customers now pay attention not only to interest rates but also to service speed, convenience, and security. Banks that use AI technologies can enhance their reputation and attract more customers.
AI also opens new opportunities for banks in Uzbekistan. For instance, using artificial intelligence in loan portfolio management reduces risks. Financial inclusion — expanding access to banking services for the general population — can also be improved through AI. Additionally, AI can play an important role in future green financing projects.
One of the most critical issues is cybersecurity. As financial crimes around the world are increasing, AI systems help not only detect fraud but also protect large volumes of data. Therefore, banks in Uzbekistan must strengthen their efforts in this area.
Conclusion:In conclusion, artificial intelligence is becoming an essential part of the future banking system. It simplifies customer service, reduces risks, detects fraud, and most importantly, increases the efficiency of banking operations. In the context of Uzbekistan, the gradual introduction of AI technologies, training qualified specialists, strengthening cybersecurity, and improving financial literacy are of great importance. If consistent work is carried out in these directions, banks in Uzbekistan can become competitive not only in the region but also in the global financial market.
REFERENCES
1. O‘zbekiston Respublikasi Markaziy banki. Raqamli moliya hisobotlari, 2024.
2. World Bank. AI in Financial Services. Washington, 2023.3. Brynjolfsson, E., & McAfee, A. Machine, Platform, Crowd. Norton, 2017.4. Harvard Business Review. Artificial Intelligence for the Real World. 2018.
I am Eshmurodova Sevinch Bahrom qizi, born in 2006 in the Kamashidistrict of the Kashkadarya region. Between 2022 and 2024, I studiedat the Academic Lyceum of Karshi State University in the “exactsciences” department and successfully graduated. In 2024, I wasadmitted to Karshi State Technical University and am currently a2th-year student at the Faculty of Economics and Management, BankingDepartment. In my free time, I play sports. I am a 3-time champion ofUzbekistan. I have also taken the honorable 1st place in Tashkentseveral times. In addition, I have won the Rector’s Cup several times.Currently, I am running an online business at home. I make tiaras forgirls. I take an online course in Turkish. My goal is to open atraining center in the area where I live, in agreement with thegovernor. I would like to pay special attention to Turkish, Russian,mathematics, and robotics at the center.