Alpaslan Cakar: AI will be main driver of banking sector

Türkiye's banking sector has grown to over $1 trillion in total size, Alpaslan Cakar, Chairman of the Banks Association of Türkiye, said at the 9th International Banking Forum in Baku, Report informs.

Cakar noted that Turkish banks hold investments in more than 30 countries worldwide, while around 20 foreign banks or their branches-mainly from continental Europe-operate within Türkiye.

He emphasized that digitalization and artificial intelligence have become essential components of development for countries like Türkiye. "AI will be the main driver of the banking sector in the coming period. Data will serve as the primary fuel, and the sector's competitiveness will depend on how securely, reliably and seamlessly banks can use these technologies to create real value for customers," Cakar said.