Artificial intelligence in Armenian banks is at the level of a first-grader – Central Bank
22.10.2025,
13:21
The use of artificial intelligence in Armenia's banking sector is still developing and not yet widespread, despite the technology's enormous potential.
YEREVAN, October 22. /ARKA/. The use of artificial intelligence in Armenia's banking sector is still developing and not yet widespread, despite the technology's enormous potential.
"Today, AI in the banking sector can be compared to a first-grader – it needs to grow and learn to do complex things. And like a child, it needs to be properly fed," Komitas Stepanyan, head of the Central Bank of Armenia's IT and Cybersecurity Directorate, said in an interview with Novosti-Armenia.
According to him, the "food" of artificial intelligence is data. Without the right data, it cannot function correctly. The larger the database, the more accurate the AI's responses.
Stepanyan noted that experts compare AI technology to the first iPhone, which completely changed approaches, ideas, and perceptions in the world of mobile devices. Society is currently dealing with a technology whose development potential is unimaginably great.
According to him, AI in Armenian banks is currently mainly used for chat responses, such as checking account balances or providing basic information to clients.-0-
"Today, AI in the banking sector can be compared to a first-grader – it needs to grow and learn to do complex things. And like a child, it needs to be properly fed," Komitas Stepanyan, head of the Central Bank of Armenia's IT and Cybersecurity Directorate, said in an interview with Novosti-Armenia.
According to him, the "food" of artificial intelligence is data. Without the right data, it cannot function correctly. The larger the database, the more accurate the AI's responses.
Stepanyan noted that experts compare AI technology to the first iPhone, which completely changed approaches, ideas, and perceptions in the world of mobile devices. Society is currently dealing with a technology whose development potential is unimaginably great.
According to him, AI in Armenian banks is currently mainly used for chat responses, such as checking account balances or providing basic information to clients.-0-