Uzbekistan to deploy artificial intelligence for business project risk assessment

This year, a total of UZS 140 trillion has been allocated through banks to support the development of small and medium-sized businesses. However, the president pointed out significant disparities in the efficiency of credit utilization across different regions of Uzbekistan. Data shows that while some districts achieve high returns on investment in terms of employment, others are lagging significantly.

For instance, in Shirin, 20 jobs are created for every UZS 1 billion of financing. Similar high performance is seen in Uchkuduk with 17 jobs, and Khanabad and Sokh with 14 jobs each. In contrast, districts such as Bostanlyk, Pskent, Uchkuprik, Kurgantepa, and Karmana generate only 3 new positions for the same amount of funding. The president noted that if bank branches directed funds toward more effective projects, an additional 36,000 jobs could be created. Furthermore, such efficiency would help approximately 60,000 informally employed citizens transition their incomes out of the shadow economy.

To address these inefficiencies, the head of state highlighted the necessity of using artificial intelligence to analyze projects and monitor the utilization of funds. Expressing criticism over the slow pace of digital implementation, President Mirziyoyev ordered the organization of specialized AI training for bankers at the district level.

A key component of this initiative will be the launch of the "AI Consultant" platform within the banking system. This platform is designed to provide rapid analysis of project parameters, potential risks, and predicted demand, ultimately offering ready-made solutions to assist bank officials in making informed lending decisions.