A panel discussion titled “The Impact of Artificial Intelligence on Leadership and Decision Making” was held at AraratBank’s Development Branch. The event was organized as part of the international scientific-practical conference “Transformation of Management Theory and Practice in the 21st Century,” co-organized by AraratBank.

During the panel discussion, industry-leading experts shared their experience and vision regarding the prospects of artificial intelligence implementation, with special attention to opportunities and challenges in the financial sector.

The participants shared their perspectives on the role and impact of artificial intelligence.

“Artificial intelligence is no longer tomorrow’s challenge. It contains urgency. We have not hopelessly fallen behind in understanding and perceiving these technologies, particularly in the banking system, and small Armenia can also have its participation in the development of these technologies,” noted Grigor Hovhannissian, Chairman of the Board of AraratBank.

“In terms of the financial and banking sector, in all areas where there is a lot of data and these data are not organized, we will see very interesting solutions through the use of artificial intelligence tools,” said Garegin Gevorgyan, Director of the Financial System Stability and Regulation Directorate of the Central Bank of Armenia.

Zaruhi Melkonyan, Head of International Operations at AraratBank, emphasized that we are all currently part of artificial intelligence: “Being a representative of the financial sector, I want to say that perhaps the financial sector is among the first to immediately feel the impact of AI. We are moving forward with great willingness and potential.”

Samson Avetyan, Director of eqwefy Investment Platform and AICA Club, stated: “We welcome the fact that a progress is taking place, and I think that both through AraratBank and through the financial system in general, such innovative tools will make our overall economy much more competitive.”

Artavazd Minasyan, Co-founder of Krisp and 10Web, emphasized that artificial intelligence is the military technology of the future, and it is necessary to move in that direction: “Because we have a national security issue. Secondly, for the preservation of Armenian language and identity, we need to create Armenian technologies.”

The special guest of the event, Ruben Hayrapetyan, Co-founder and Executive Director of Matena International School, observed: “The more functions artificial intelligence takes from humans, the more space is freed up for higher-level human functions.”

The panel discussion was attended by students and lecturers from the French University in Armenia, Russian-Armenian University, Yerevan State University, American University of Armenia as well as directors of the Corporate Governance Center and Confucius Institute, among others.