Article Series: The Benefits And Challenges Of Artificial Intelligence And Machine Learning In The Financial Sector: A Focus On The UAE

The ADGM Academy Research Centre brings together the ecosystems of academia, industry, government and technology to collaboratively explore solutions and bring insights to the challenges facing the financial sector in the UAE and beyond. We do this through research focused on five key topics: digital transformation, artificial intelligence, data analytics, fintech and cyber security. In this article series we provide an overview of each of these topics and their relevance to the financial sector. Here we look at artificial intelligence (AI) and machine learning (ML).

AI and ML are revolutionising the financial sector globally, and the UAE is no exception. The adoption of these advanced technologies is transforming how financial institutions operate, enhancing capabilities in risk management, customer service, fraud detection, and investment strategies.

The UAE has positioned itself as a global leader in technological innovation, driven by visionary initiatives and a favourable regulatory environment. The UAE National Strategy for Artificial Intelligence 2031 is pivotal in promoting AI adoption across many industry sectors, including finance. Financial institutions are increasingly leveraging AI and ML to improve efficiency, enhance customer experience, and gain a competitive edge in the market.