Central Asia’s banking and mining industries are at a critical juncture. These sectors face mounting global competition, shifting markets, and the rising impact of automation and artificial intelligence (AI). The challenge for leaders in Uzbekistan and Kazakhstan is to embrace these disruptions and turn them into opportunities. AI integration and workforce training are essential for enhancing industry stability in the mining sector.
AI is redefining how businesses create value, making expertise more accessible and cost-effective. While this lowers barriers for new competitors, it also challenges established firms to rethink their strategies. Staying relevant in this rapidly evolving landscape requires companies to align their core strengths with new technologies and rethink operational models.
Here’s how Central Asia’s corporations can harness AI to maintain a competitive edge:
Focus on Core Expertise
AI allows firms to outsource non-core tasks, such as logistics, customer service, or routine administrative functions, to specialised platforms. This frees resources to focus on activities where companies can excel. For example, firms in the global biotech sector have used AI to slash task completion times from weeks to minutes. These shifts allow businesses to channel their efforts into core areas like innovation, customer relationships, and strategic growth.
In Central Asia, mining firms could use AI to automate equipment monitoring, allowing their teams to focus on optimising operations. Similarly, banks could leverage AI for routine compliance tasks, redirecting employee expertise to client engagement and product development.
Upskill the Workforce
AI isn’t just about automation—it’s a tool to enhance employee performance. Studies show that AI-assisted teams can complete 25% more tasks, with lower-skilled workers benefiting the most. Organisations like Moderna demonstrate the power of AI integration by training employees to create AI tools tailored to their work.
Central Asian firms must invest in similar training initiatives to upskill employees, particularly in high-potential areas like data analytics, predictive modelling, and digital operations. This will empower teams to work effectively alongside AI tools, unlocking new levels of productivity and innovation.
Start Small, Scale Fast
AI implementation works best when it begins with specific, measurable applications. For instance, companies can pilot AI tools in processes like customer service, coding, or operational forecasting before scaling them across the business. This approach minimises risks and builds confidence in the technology.
Targeting high-impact areas is particularly critical for Central Asia’s resource-intensive industries. Mining companies, for instance, can trial AI in predictive maintenance to reduce equipment downtime. Banks can experiment with AI chatbots to improve customer service. Success in these areas can create a blueprint for broader AI adoption.
Embed AI into Strategy
Integrating AI into the organisational culture and strategy is essential for long-term success. This requires strong leadership alignment, clear operational goals, and a focus on digital transformation. A company-wide commitment to AI, supported by a dedicated budget, is critical to ensuring sustained progress.
The Path Ahead
For Central Asian firms, AI represents a chance to leapfrog competitors and redefine their roles in the global economy. By focusing on core expertise, upskilling workforces, and embedding AI into strategy, companies can drive efficiency and unlock new growth opportunities.
*This ChangeSchool article also references the upcoming article by How to thrive when AI makes knowledge and know-how cheaper and easier to access by Bobby Yerramilli-Rao, John Corwin, Yang Li, and Karim R. Lakhani From the Magazine (forthcoming March–April 2025) and the Harvard Business Review, March–April 2025; McKinsey Insights.*