Bishkek has become an arena for breakthrough ideas and lively discussions - the International PLAS-Forum ‘Digital Kyrgyzstan’ was held here at the Sheraton Hotel. The event brought together specialists from a wide range of fields: from fintech and public services to cryptocurrencies, cybersecurity and retail. The forum became a real springboard for sharing experience, demonstrating innovative solutions and, of course, discussing bold plans for the future of the digital economy in Central Asia.

‘The Forum gathered representatives from 22 countries, which emphasises its international scale. The participants include not only neighbouring countries and the Baltic and Transcaucasian regions, but also China, the United Emirates, Portugal, Singapore, Turkey, as well as Sweden, France and the UK. This confirms that the geography of the forum participants has significantly expanded thanks to active work to attract the international community,’ said Alexander Grizov, Chairman of the Plas Forum Organising Committee.
 

Azamat Zhamangulov, Minister of Digital Development of Kyrgyzstan, also spoke at the event and outlined the key areas of digital transformation of the country. Azamat Zhamangulov emphasised that Kyrgyzstan aims to create a unified digital space for business and population.

‘Our goal is to provide the population with maximum access to digital services, regardless of their location. We are actively working on the creation of the Digital Code, which will become the basis for the digital economy. In the near future, we plan to submit it for a second reading in Parliament,’ he concluded.
 

The forum turned out to be rich. In the first part, the key trends of fintech were discussed: Open Banking, Open API, scaling of business through no-code solutions. They talked about new approaches to sales and services, digitalisation of public services and payment technologies.

According to Mels Attokurov, Deputy Chairman of the National Bank of the Kyrgyz Republic, technologies are changing life and the economy, and banks play a key role in digitalisation. The financial sector is actively using artificial intelligence, Big Data, cloud services, fast payments and blockchain.

‘Today, banks and payment systems are successfully providing remote services, instant transfers, contactless payments and online identity,’ said Mels Attokurov.
 

During the main session, participants presented cases demonstrating how quickly digital services can be launched. In particular, Tilek Alimdzhanov, Chairman of Ayil Bank, shared his experience in implementing a mobile application for business, and Aigul Bakesarieva, head of the Digital KGS project, spoke about the development of the national digital currency.

The plas-forum discussed how digital technologies are changing the economy of Central Asia. The main topic was the transformation of retail - how traditional chains are adapting to the growth of e-commerce and how new technologies such as AI and innovative payment systems are helping businesses develop. Forum participants also touched on the future of the banking sector, Islamic finance and opportunities for investment in cryptocurrencies. Particular attention was paid to cybersecurity and data protection, reminding that as technology advances, it is important to ensure strong defences.

But in one way or another the topic of artificial intelligence slipped into all the discussions, and the report of the former Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Zhaparov attracted special attention to this issue. In his speech, he noted that artificial intelligence has already made its way into everyday life, influencing areas such as banking technology and telecom operators. He cited examples where AI helps in customer identification, but is also actively used by fraudsters to create fake voices and steal data.

Zhaparov noted that the changes we are seeing today are just the ‘tip of the iceberg.’ He compared the impact of artificial intelligence to a nuclear race: AI is capable of making decisions on its own, creating both opportunities and risks for business, society and geopolitics.

‘The race for leadership in AI will have a huge impact on the global landscape, with nations already investing billions of dollars in its development. And it is important to unite the efforts of countries like Kyrgyzstan to create strategies and sustainable use of AI,’ Akylbek Zhaparov emphasised.

Special attention was paid to the topic of AI energy consumption, which is a serious challenge for countries with limited resources. In addition, the wrong approach to the introduction of neural networks creates the risk of social inequality due to unequal access to technology, in this regard, Zhaparov suggested creating national councils to develop ethical standards.

‘Kyrgyzstan can become successful in the AI era if it is open to innovation and co-operation, because AI reflects our ambitions and values,’ he concluded.

In a separate session dedicated to artificial intelligence, participants discussed several key issues. In particular, they considered the challenges of cybersecurity in the financial sector, especially in light of the growing threats from new technologies. They discussed the importance of protecting financial structures from cyberattacks, as well as the role of AI in risk management and compliance. The speakers paid no less attention to the issue of introducing neural networks into educational programmes and its impact on human capital development.

‘Compared to last year, the topic of artificial intelligence has become much more relevant for our country. It is present in every session of the forum, be it information security, government services, e-commerce and other areas. Now artificial intelligence is not just a buzzword, but a real tool that is being actively implemented in various spheres. It is no longer a hype, but a concrete element of work and an important component of our future,’ said Alexander Grizov, chairman of the organising committee of the plas-forum, in a conversation with Akchabar.
 

In addition to the topic of artificial intelligence, the forum actively discussed the issues of the cryptocurrency industry, including the development of crypto exchanges and licensing of crypto banks, as well as the importance of cybersecurity for convenient services. Participants spoke about the need to improve financial and computer literacy of the population, development of the stock market, liquidity of securities and attracting foreign shares to the Kyrgyz Stock Exchange.

‘Digitisation of financial services, including mobile transaction platforms and services that are actively launched by foreign participants in the Kyrgyz market, will provide Kyrgyz people with a wide choice of liquid financial instruments, including both local and foreign securities. This will probably lead to the first company to go public. Thus, every citizen will have the opportunity to become an investor, buying securities even for as little as a thousand KGS,’ said Medet Nazaraliev, general director of Freedom Broker in Kyrgyzstan.
 

Digitalisation helps Kyrgyzstan to keep up with modern trends. However, without a comprehensive approach, the country not only risks losing another race, but also jeopardising the well-being of its citizens. So far, we see that work in this direction is being actively carried out, and the republic is attracting the attention not only of its neighbours but also of foreign countries, and local specialists are becoming a calling card for Kyrgyzstan. Nevertheless, this issue should be put on the agenda not only of the relevant ministries but also of the entire Cabinet of Ministers.