The banking sectors of Azerbaijan and the UK have discussed the use of AI in the financial sphere, Report informs via the Azerbaijan Banks Association (ABA).

Expert groups from ABA made a business visit to London as part of cooperation with the British Embassy in Azerbaijan. During the trip, meetings were held with representatives of British state and private financial institutions.

As part of the visit, negotiations were held with the UK's central bank — Bank of England — regarding AI implementation, legislative regulation of this sphere, reforms on single cryptocurrency issuance, and emerging new challenges.

Additionally, Azerbaijani bankers met with representatives of Starlink Bank, one of the leading digital banks in the global financial market, and exchanged views on technical infrastructure, digital products, and services.

Meetings were also held with Level39, Entrust Company, EY, and several fintech companies, where parties discussed prospects for digital banking development and innovative technology implementation.