On 3 January 2025, the Institute of Legislation and Legal Policy under the President of the Republic of Uzbekistan hosted a theoretical seminar on the topic: ‘Building a digital economy: how can we use data and artificial intelligence to monitor the life cycle of business in Uzbekistan over the next 5 years?’ with the participation of Sardor Karimov, Major Account Manager at FullCircl, a UK-based company.
For information: FullCircl is a company that provides a customer management platform to simplify due diligence and service in regulated industries. It helps businesses attract customers, minimise risk and ensure regulatory compliance.
The event was attended by the staff of the Institute, as well as representatives of the University of World Economy and Diplomacy and the Tashkent State University of Law.
During the event, the lecturer presented the capabilities of analytical systems for monitoring the business life cycle. As he noted, the FullCircl product provides an API interface that allows automating the processes of monitoring and verification of counterparties. This system integrates data from government registries, financial statements and corporate structures, making it easier to update information, conduct preliminary checks and monitor the creditworthiness of companies. Such tools increase the accuracy and speed of decision-making, reduce operational risks and optimise interaction with clients and investors.
For information: API (Application Programming Interface) is a set of rules and protocols that allows different software applications to interact with each other.
The expert dwelt separately on the capabilities of FullCircl for lawyers and analysts. He noted that the system provides access to information on court cases, bankruptcy procedures and analyses of companies’ compliance with legal requirements. This helps lawyers get a complete picture of the state of companies, reducing the likelihood of errors and improving the quality of legal assessments. In addition, the system has modules for monitoring ESG indicators (environmental, social and governance aspects), which helps to improve companies’ responsibility and compliance with environmental standards. The system is particularly useful for businesses oriented towards a green economy.
Speaking about the prospects of applying such solutions in Uzbekistan, S.Karimov stressed the importance of creating an infrastructure capable of supporting access to detailed information on local companies, similar to European standards. He pointed to the need to assess the costs of implementing such technologies and their adaptation to the conditions of state policy. He expressed confidence that the integration of the FullCircl platform can significantly accelerate the processes of digital transformation and strengthen the foundations of sustainable economic growth.
At the end of the seminar, the participants actively discussed the presented technologies and asked questions about the possibilities of their application for public policy and business. The results of the discussion showed high interest in the presented solutions, as well as their significant potential to support the digital transformation of Uzbekistan’s economy.
