The Agency held a case championship on risk management using AI and ML

The Agency for Regulation and Development of the Financial Market, together with Kazakh-British Technical University and with the support of Freedom Finance Insurance JSC, held the third annual risk management case championship, the “Risk Management Case Competition,” among undergraduate and graduate students of higher education institutions.

The goal of the championship was to develop a scoring model to assess road accident risk using AI and ML algorithms based on a provided dataset.

A total of 59 teams from 21 universities in Kazakhstan and abroad took part in the competition. Following the qualifying round, 9 teams advanced to the final, representing leading universities from Kazakhstan and Saudi Arabia. As a result, first place was awarded to the team Chebyshev’s Inequality, second place to Girls Generation, and third place to AIM.

The winners were awarded educational grants, including full coverage of the FRM exam fee and training for the FRM Part I preparation program, or a grant for training under the CII certification program with membership in the Chartered Insurance Institute.

During the event, First Deputy Chairman of the Agency, Timur Abilkasymov, emphasized the importance of such initiatives for the entire financial market. “Hosting such case championships plays an important role in developing practical competencies among students and young professionals, enabling them to work with real-world tasks and data.

The chosen topic, related to the application of AI and ML technologies in assessing road accident risks, opens up new opportunities to improve the accuracy of analysis and the effectiveness of risk management. Training specialists with up-to-date skills in data analysis and risk management is one of the key factors for the sustainable development of the financial sector,” noted T. Abilkasymov.

He also highlighted that the Agency is consistently integrating AI and ML technologies into its supervisory activities over the financial sector, allowing for more accurate identification of economic relationships and assessment of their impact on the stability of the financial system.

Overall, the annual case championship contributes to the development of practical skills in working with real data and modern risk analysis tools among young professionals, while also strengthening cooperation between the academic community and the financial sector, thereby building human capital that meets the demands of the modern economy.

 

External Communications Directorate
press@finreg.kz