Center-invest Bank held a meeting with leaders and specialists from the Ministry of Economic Development of the Rostov Region, "Rostovstat", the Federal Tax Service Office for the Rostov Region, and the Regional Information and Analytical Center to discuss the use of artificial intelligence (AI) for forecasting socio economic indicators and regional budget revenues.
The Center-invest team presented to the meeting participants the AI powered platform "DEVELOPMENT OF THE REGION DASHBOARD". The platform is a dynamic monitoring and forecasting system that aggregates over 2 million data points across nearly 4,000 indicators from statistical and banking reports covering 89 constituent entities of the country. Using AI technologies, it analyzes and forecasts these indicators, visualizing the results through charts and interactive models.
The dashboard not only allows tracking the current state of the regional economy but also enables scenario based forecasting, including for such a sensitive parameter as corporate income tax receipts. The platform was used in updating the Strategy for the Socio Economic Development of the Rostov Region until 2030.
"We view artificial intelligence not as a replacement for humans but as an intelligent assistant that automates routine processes, freeing up time for creative decisions. At the same time, responsibility for management decisions always remains with the specialist, " - noted Igor Ivashchenko, Deputy executive board of Center-invest Bank, during his speech.
The meeting participants discussed the experience of using traditional and modern forecasting methods, the need to account for industry specific characteristics and external factors such as changes in tax legislation and economic sanctions. It was noted that the adoption of AI tools will not only accelerate analytical work but also improve the quality of decisions made regarding regional budget planning.
"Such a dashboard allows us to quickly identify the most significant indicators affecting key forecast parameters. Instead of manually analyzing hundreds of data points, the system helps focus on the main drivers and risk factors, which is critically important for the timely adjustment of management decisions" emphasized Pavel Pavlov, Minister of Economic Development of the Rostov Region.
"Forecast figures are important, but a forecast is ultimately needed to determine transformations in our economic mechanism: the rules of the game, organizational structures, approaches to the budget, taxes, wages, and social support, " - noted Vasily Vysokov, executive board of Directors of Center-invest Bank, Doctor of Economics, Professor.
Following the meeting, a decision was made to hold training seminars for employees of executive government bodies and their subordinate institutions.
Center-invest Bank serves as an institutional partner for universities in AI projects, purposefully develops the necessary infrastructure, and trains qualified personnel in advanced technologies — not only to support its own business growth but also in the interests of the Don region and the country as a whole. The bank has prepared a book on the use of artificial intelligence, which explains in simple and clear terms what AI is today, how it is already affecting work and daily life, and how to use it responsibly and effectively.