Artificial intelligence and digital lira are on the agenda

The financial world is at the center of a major transformation dubbed "smart money technologies." Recent developments center around two of the main drivers of this shift: artificial intelligence and central bank digital currencies (CBDCs). While these technologies promise to make money faster, more efficient, and more personalized, they also raise issues like security and privacy.

Artificial intelligence is now taking on much more than just a "co-pilot" role in the financial sector. Banks and financial technology companies are actively using AI in areas such as fraud detection, personalized customer service, and increased efficiency. AI algorithms can analyze millions of transactions in seconds, instantly identifying suspicious activity. Furthermore, smart assistants that learn customer behavior and provide personalized investment advice and services are becoming increasingly common.

Meanwhile, central banks' efforts to develop their own digital currencies have accelerated. The Central Bank of the Republic of Turkey (CBRT) is taking significant steps toward the "Digital Turkish Lira" project. The first phase of the project has been successfully completed, and work has begun on the second phase. The CBRT positions the Digital Turkish Lira as a tool that will complement existing payment systems, pave the way for innovative use cases, and increase financial inclusion. In this context, the aim is to develop new use cases in collaboration with the private sector.

These two fundamental trends are shaping the future of money. The combination of AI-powered "smart wallets" and state-guaranteed "digital lira" is expected to transform financial transactions into something far different from today. While this new era holds the potential to offer users significant convenience, it also necessitates meticulous attention to issues such as personal data protection and system security.