First Abu Dhabi Bank (FAB) and Microsoft have entered into a strategic business partnership to collaborate on the development of innovative AI-driven banking capabilities on a global scale.
One of the largest banks in the UAE and the leading global technology company will work together to establish an ‘AI Innovation Hub’ focused on driving innovation, sustainability, and enhancing customer experiences within financial services.
Partnering with Microsoft to spearhead AI innovation, the hub aims to expedite the integration of cutting-edge innovations and AI technologies into financial services, facilitating product enhancement, personalised services, unique AI risk models, and other advancements.
Hana Al Rostamani, Group Chief Executive Officer at FAB, remarked that the AI Innovation Hub represents another significant milestone for the bank in its commitment to fostering innovation, according to Arabian Business.
By collaborating with Microsoft, a renowned global leader in AI, FAB aims to accelerate progress in generative AI, intelligent automation, and machine learning, Al Rostamani added.
Naim Yazbeck, UAE General Manager at Microsoft Gulf, expressed confidence in the partnership, stating that together with FAB, they will pioneer groundbreaking capabilities, reflecting FAB’s leadership and vision as an innovator and trendsetter both regionally and globally.
FAB has been at the forefront of technological innovation in the banking sector, seamlessly integrating its comprehensive range of products and services into a digitally driven service model. The bank has already integrated AI and blockchain advancements into its platform, delivering a seamless, fully digital banking experience, from account opening and onboarding to a wide range of everyday service requests.
FAB’s collaboration with Microsoft is in line with the UAE’s artificial intelligence strategy, which aims to position the country as a global leader in AI by 2031.
