Manoj Sureka, CEO & Managing Partner of Synergy Fin. Consulting is a finance and investment leader with a track record of driving growth. Formerly Head of Commercial Banking at RAKBANK, he has held senior roles at Mashreq Bank and National Bank of Fujairah and mentors several companies.
Synergy Fin. Consulting offers fundraising advisory, M&A, and joint venture support for SMEs and corporates, connecting clients with banks, financial institutions, and investors.
Exclusive Interview
Q: From your perspective, how has artificial intelligence evolved from an experimental tool to a core driver of transformation in the financial services sector?
AI has moved well beyond experimentation. What began as isolated pilots in data analytics or automation is now embedded across core financial functions. Financial institutions are increasingly using AI to enhance decision-making, improve operational efficiency, and manage risk at scale. The shift has been driven by improved data availability, stronger computing power, and a clearer understanding of where AI delivers tangible commercial value rather than theoretical promise.
Q: Which areas of financial services are seeing the most immediate impact from AI today?
The most visible impact is in risk management, fraud detection, and customer experience. AI-driven models are enabling real-time monitoring of transactions, more accurate credit assessments, and faster identification of anomalies. At the same time, customer-facing applications, such as intelligent chat interfaces and personalised product recommendations, are significantly improving engagement and service efficiency.
Q: In the UAE specifically, what factors have accelerated AI adoption within financial institutions?
The UAE benefits from a strong digital infrastructure, forward-looking regulation, and clear national strategies that prioritise technology-driven growth. Financial institutions here are also operating in a highly competitive environment, which encourages early adoption of innovation. Importantly, there is strong alignment among government initiatives, regulators, and the private sector, which reduces friction in implementing new technologies, such as AI.
Q: With the rise of AI-driven automation, how do you see the role of human decision-making evolving in finance?
“AI should be viewed as an augmentation tool, not a replacement for human judgment.”
AI should be viewed as an augmentation tool, not a replacement for human judgment. While automation can handle repetitive and data-intensive tasks, strategic decisions still require context, ethics, and experience. The most effective institutions are those that combine AI-driven insights with human oversight, ensuring accountability and sound decision-making.
Q: Data is the foundation of effective AI. What challenges do financial institutions face in building reliable and ethical AI models?
The key challenges relate to data quality, governance, and bias. Financial institutions must ensure that their data is accurate, representative, and securely managed. Ethical considerations are equally important; AI models must be transparent and fair, particularly when they influence credit decisions or customer outcomes. Strong governance frameworks and continuous monitoring are crucial for addressing these challenges.
Q: How do you see collaboration between financial institutions, fintechs, and AI startups shaping innovation in the UAE?
Collaboration is a key driver of innovation. Traditional institutions bring scale, trust, and regulatory experience, while fintechs and AI startups bring agility and specialised expertise. In the UAE, these partnerships are accelerating the deployment of new solutions and helping the ecosystem remain globally competitive.
Q: Looking ahead to the next three to five years, what major shifts do you anticipate AI will bring?
We will see AI becoming more deeply integrated into core systems rather than operating as a standalone layer. Decision-making will become faster and more predictive, operational models will be leaner, and customer experiences will be more seamless. At the same time, regulations around AI will mature, providing clearer guidelines for responsible adoption.
Q: What advice would you give to financial leaders who are still cautious about AI adoption?
Caution is understandable, but inaction carries its own risks. Leaders should start with clearly defined use cases, invest in strong governance, and build internal capabilities gradually.
LESSONS LEARNED
I advise financial leaders not to delay AI adoption. While caution is natural in regulated environments, inaction can create strategic blind spots. Approach it as an incremental journey, guided by five key questions, rather than starting with the technology itself.
- Is the process manual?
- Is it costly to scale?
- Is it slow or time-intensive?
- Is it prone to error?
- And are the associated risks clearly understood?
By answering these questions, financial leaders can identify low-risk, high-impact starting points for AI adoption.
