NBU Signs Collaboration Agreement with IBM

Recently, during ICTWEEK UZBEKISTAN NBU and IBM signed a Collaboration Agreement (Memorandum) to mark a new stage in the development and adoption of digital technologies in the country's banking system.

ICTWEEK UZBEKISTAN is an annual event focused on information and communication technologies, hosted in Uzbekistan since 2004. It serves as an ideal platform for sharing international expertise, showcasing IT industry achievements, and highlighting the attractiveness of Uzbekistan’s IT market to foreign investors.

Under the terms of the agreement, IBM plans to combine its advanced expertise in developing and implementing Artificial Intelligence technologies with the banking experience of NBU to drive innovation and efficiency in the sector.

A series of joint workshops is planned to analyze business challenges and services whose efficiency can be enhanced through the integration of AI and machine learning technologies. Additionally, a pilot project will be implemented to evaluate the potential and effectiveness of modern technologies in improving the quality of banking services.

As outlined in the Agreement, a collaborative pilot solution will be developed - a Minimal Viable Product (MVP) - designed to validate the technological and qualitative capabilities of applying AI and machine learning technologies.

It is worth noting that the banking system of our country is transitioning to its next stage of development. This undoubtedly lays a solid foundation for transforming the sector to meet national economic and technological needs.

As in many other fields, the adoption of advanced technologies in the banking system is transformative, significantly enhancing service quality, expanding the range of offerings, and elevating the sector to a higher standard.

If the goals outlined by IBM for NBU under the Agreement are successfully achieved, the parties have agreed to extend their collaboration beyond 2024–2025, continuing into a longer-term partnership.