The Emirates Institute of Finance (EIF) Innovation Hub has launched a groundbreaking initiative to explore the integration of traditional and generative Artificial Intelligence (AI) in the UAE’s financial services sector. Partnering with HSBC Bank Middle East, Al Maryah Community Bank, and UAE-based tech firms Presight and Core42, the collaboration aims to harness AI to enhance operational efficiency, cybersecurity, and customer experience across the banking ecosystem.
This strategic move aligns with the UAE’s national vision to accelerate digital transformation and establish itself as a global leader in financial innovation. The initiative will involve joint research, knowledge-sharing sessions, and pilot programs to test real-world AI applications in banking. A key focus is on promoting ethical and responsible AI adoption while fostering open dialogue between financial institutions and technology providers.
H.E. Saif Humaid Al Dhaheri, Assistant Governor at the Central Bank of the UAE and Vice Chairman of EIF, emphasized that the initiative reflects the UAE’s forward-thinking leadership and commitment to building a resilient, tech-driven financial system. He noted that responsible AI integration is essential for balancing innovation with financial stability.
Mohamed Al Marzooqi, CEO of HSBC UAE, highlighted the partnership’s potential to simplify banking and empower employees by combining global expertise with local innovation. Similarly, Al Maryah Community Bank CEO Mohammed Wassim Khayata called the collaboration a pivotal moment in the evolution of AI-powered banking, reinforcing the UAE’s position as a hub for digital finance.
Presight COO Dr. Adel Al Sharji stressed that AI offers transformative opportunities to boost integrity and efficiency in financial services. He reaffirmed the company’s dedication to deploying secure AI solutions in partnership with regulators and banks.
Kiril Evtimov, CEO of Core42 and CTO of G42, added that the initiative supports G42’s mission to drive AI innovation across critical sectors. He outlined potential applications such as automating document processing, improving credit risk assessments, and reactivating dormant accounts—underscoring the UAE’s commitment to pioneering next-generation financial services through scalable, impactful AI technologies.
