MWANZA, Oct. 29 -- THE Bank of Tanzania (BoT) has emphasised the importance of financial institutions adopting modern technologies, particularly Artificial Intelligence (AI) and data analytics, to improve decision-making, risk management, operational efficiency and the delivery of secure, customer-focused financial services.

Speaking at the opening of a conference organised by the Bank of Tanzania Academy in Mwanza, BoT Governor Emmanuel Tutuba said AI had a significant role to play in transforming how commercial banks and central banks carry out their responsibilities amid rapid global technological advancements.

Tutuba said many institutions had long focused on digital transformation through computerised systems, mobile and internet b...