Today, both First Abu Dhabi Bank and Microsoft, the largest in the United Arab Emirates and globally in the field of technology, signed a partnership to collaborate on developing artificial intelligence technologies in banking services, including the launch of an Artificial Intelligence Innovation Center in the financial services sector.
The center will work in fields of creativity, sustainability, and customer experience. The agreement will include three areas of collaboration involving innovation using artificial intelligence, global growth enhancement, and establishing new foundations for the financial market system.
The center will contribute to accelerating the adoption of new innovations and artificial intelligence technologies in the financial services sector, aiming to enhance products, identify target groups, create unique models for artificial intelligence risks, and introduce new solutions and other benefits.
This partnership strengthens First Abu Dhabi Bank’s ongoing efforts in the field of artificial intelligence, including its long-term partnership with “G42” company and its work with its subsidiary “Core42”, specializing in providing comprehensive artificial intelligence-based solutions to expedite the transfer and operation of the bank’s data center using Microsoft’s leading cloud computing system “Azure.”
First Abu Dhabi Bank has achieved significant milestones in applying the latest technological innovations in the banking sector, by adopting a comprehensive model for digital services, including a wide range of financial products and services.
The bank gives priority to integrating the latest artificial intelligence and blockchain technologies into its service platform, to ensure a seamless and flexible digital banking experience for customers, whether in opening accounts or using the various services provided by the bank.
This partnership in its content and objectives aligns with the United Arab Emirates’ strategy in the field of artificial intelligence, aiming to enhance the country’s position as a global leader in this field by 2031, through establishing the necessary policies to build a qualified system to monitor developments in this field, support research and development activities, and enhance cooperation between relevant entities to accelerate the adoption of artificial intelligence systems.
Hanaa Al Rustamani, CEO of First Abu Dhabi Bank Group, said that the launch of the “Artificial Intelligence Innovation Center” is a significant step for them and a strong component of the bank’s innovation agenda. In collaboration with Microsoft, a global leader in this vital sector, we affirm our commitment to making rapid progress in the field of artificial intelligence, automation, and machine learning.
Naim Yazbek, General Manager of Microsoft in the United Arab Emirates, said they are pleased to collaborate with First Abu Dhabi Bank in this strategic initiative that confirms the bank’s interest in utilizing generative artificial intelligence capabilities as a means for innovation and positive change in the sector. They will work together to develop capabilities and capacities that enhance First Abu Dhabi Bank’s position as a leader in innovation, setting new standards in the sector at both regional and global levels.
The “Artificial Intelligence Innovation Center” will help strengthen First Abu Dhabi Bank’s competitive ability by adopting the best standards of innovation, sustainability, security, and artificial intelligence technologies in all its activities.
