"Business Process Optimization with AI" – a Course for the Senior Management of AraratBank

The course titled "Business Process Optimization with AI" was developed for the senior management of AraratBank and held at the Tsaghkadzor Ararat Resort Hotel. It was organized in collaboration with AraratBank and the reArmenia Academy, as part of the Academy’s educational initiative "AI_qez_ban" implemented within the framework of its broader educational programs.

The course featured a comprehensive and engaging agenda that addressed the most current issues of our constantly changing reality—the scale of the AI revolution and its impact on both the economy and the labor market.

The specifics of the application of artificial intelligence in the financial sector were presented in an interactive format by instructors Arshak Ulubabyan, Artak Grigoryan, and Anahit Vardanyan.

The course was primarily focused on the efficient utilization of AI tools in human resources management, public relations, and marketing to enhance work efficiency and achieve time and other resource savings.

"AraratBank emphasized the necessity of this course, taking into account the developments in the banking sector and AI. The course provided a variety of tools that can be easily used in daily banking processes to achieve maximum results.

I believe that the participation of heads of subdivisions in these courses is very important for gaining insight into the processes that can incorporate artificial intelligence, affording them savings in time and information analysis. Another important message from the course is that AI is not coming to replace humans—it is coming to empower them, and a more intelligent use of AI will make you more competitive in the future," noted Izabela Hovhannisyan, Head of Human Resources Management Department.

"Artificial intelligence holds significant importance, particularly in the lives of young people," believes Vladimir Sargsyan, Director of AraratBank's Dealing Center. "If formerly young people used to obtain information through literature, in libraries, archives, then now, when interested in a particular topic, they can do it much easier and faster by using artificial intelligence, which allows them to quickly find relevant information and easily edit and finalize the required material." 

"The reArmenia Academy has set itself the goal of making at least 1 million Armenians AI literate within a maximum of 5 years. This is important because artificial intelligence is changing the world very rapidly, and different countries are competing to see how quickly they can adopt it. And since AI increases a person's productivity by 5-10 times, this can have great potential especially for small countries like Armenia, which, despite being small, can have a significant impact in various sectors, including banking. And in this regard, AraratBank’s approach has been progressive," noted Arshak Ulubabyan, Educational Programs Coordinator at the reArmenia Academy.

The course was concluded with one of the really satisfying moments of the day—a smooth transition from the possibilities of artificial intelligence to human intellect, unforgettable emotions and smiles.

The day was enriched with a team-building activity conducted through an intellectual quiz. Questions touched on various topics—movies, books, music, and constitutional law. When the results were tallied, "Ararat" team was declared the winner, but the true victory was the unity and the healthy team spirit binding people together toward a common goal.

AraratBank is regulated by the Central Bank of the Republic of Armenia.