Page 132 - "Green Investments and financial technologies: opportunities and challenges for Uzbekistan" International Scientific and Practical Conference

“Yashil investitsiyalar va moliyaviy texnologiyalar: O‘zbekiston uchun imkoniyatlar va muammolar” mavzusida xalqaro
ilmiy-amaliy anjuman materiallari to‘plami (Toshkent, JIDU, 2025-yil 7-may)

customer service. AI-powered chatbots, for instance, handle millions of customer
interactions daily with accuracy and speed. Machine learning algorithms analyze
large datasets to predict loan defaults, detect fraudulent transactions, and personalize
investment recommendations.

Moreover, AI has enabled predictive analytics, which helps banks anticipate
customer needs based on behavior and transaction history. From credit scoring to
portfolio management, AI is redefining traditional banking tasks by making them
more efficient, data-driven, and customer-centric.
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Blockchain and Distributed Ledger Technologies
Blockchain technology has emerged as a game-changer in secure and
transparent financial transactions. By decentralizing data storage and creating
immutable records, blockchain eliminates the need for intermediaries, reducing
transaction costs and enhancing security.

Banks are exploring blockchain for a variety of uses including cross-border
payments, digital identity verification, smart contracts, and trade finance
automation. Though still in its early stages, the potential for blockchain to
streamline complex processes and minimize fraud is immense.

Additionally, Central Bank Digital Currencies (CBDCs)—another
blockchain-driven innovation—are under pilot or development in many countries,
which could redefine monetary policy and financial inclusion in the near future.

Cloud computing in banking, after all, represents big data storage in the cloud
from anywhere efficiently and securely. It allows swift on-demand deployment of
digital services, ensures robust recovery from failure, and facilitates perfect scaling.
This is especially valuable for big banks operating on a global scale. Big Data
analytics, on the other hand, gives banks the capacity to handle vast amounts of data,
both unstructured and structured, and draws insights. Once banks understand
customer behavior, financial trends, and risk patterns well enough, they are better at
decision-making, marketing, and delivering hyper-personalized services. Where a
combination of cloud and big data technology creates a bigger ecosystem that
innovates agilely into a finer set of financial operations.
One of the most significant impacts of digital transformation is the shift in
how banks operate and deliver services. Physical branches are increasingly being
replaced by digital platforms, and customer touchpoints have moved online via
mobile apps and chat interfaces.

110 Citi Global Perspectives & Solutions (2024). Banks Eye $170bn Profit Boost from AI Adoption. Financial
News London.
This report projects that artificial intelligence (AI) is anticipated to significantly boost profits and reduce paperwork
for banks by 2028.

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