The Innovation Hub of the Emirates Institute of Finance (EIF) has launched a joint initiative to explore the application of both traditional and generative AI in the financial services sector. The project brings together leading banks and UAE-based technology firms to test and develop practical AI use cases.
Key Highlights
This collaborative effort brings together key players to accelerate AI adoption in the UAE’s financial sector:
- New Initiative: A project to explore and pilot AI applications in financial services.
- Organizer: The Innovation Hub of the Emirates Institute of Finance (EIF).
- Banking Partners: HSBC Bank and Al Maryah Community Bank.
- Technology Partners: UAE-based AI and technology firms Presight and Core42.
- Focus Areas: Improving operational efficiency, enhancing cybersecurity, and strengthening the customer experience.
A Collaborative Push for AI in Banking
The initiative aims to assess how artificial intelligence can support a more secure and efficient banking environment in the UAE. The collaboration will involve knowledge exchange sessions, joint research, and controlled pilot programmes to explore practical AI use cases for the financial sector. The project places a strong emphasis on the responsible and ethical adoption of AI while encouraging dialogue between financial institutions and technology partners.
A Partnership to Accelerate Digital Transformation
This collaboration aligns with the UAE’s ongoing efforts to accelerate digital transformation and integrate advanced AI technologies.
“The UAE has a bold vision to become one of the leading nations in AI, and through our collaboration with EIF Innovation Hub, we’re tapping into AI’s potential to deliver meaningful impact,” said
Mohamed Al Marzooqi, CEO, UAE, HSBC Bank Middle East.
Dr. Adel Al Sharji, Chief Operating Officer of Presight, added, “This initiative with EIF and our banking partners is a vital step in accelerating the responsible adoption of AI, reinforcing the UAE’s position as a global leader in digital innovation and financial resilience.”
Source: Fintechnews Middle East
