Banks in Bulgaria are implementing artificial intelligence gradually

Banks in Bulgaria are more conservative and adopt elements of artificial intelligence (AI) slower. The reason is they manage huge financial resources. However, the impact of new technologies in the financial sphere is significant. This became clear during the financial forum "Innovations", organised by the Association "Bank of the Year", held on June 6.

"Banks relatively conservatively, more slowly introduce the elements of artificial intelligence. They are doing it cautiously, with good reason because they manage the resources of many people. This will have a very big impact on their business. The impact on global business will be in the order of $3 trillion to $4.5 trillion a year. This figure can be doubled depending on the areas and the pace of implementation of artificial intelligence," said Valentin Panayotov, Chairman of the “Bank of the Year” Association.

"There's a lot more focus on generative AI, it's being used in the various electronic channels of banks, but we still have the technology. It is very powerful and banks are looking for the best and appropriate way to implement projects with its help," said Miroslav Vichev, head of a payment services company.