Will AI change banking more in the next five years than the past 30? UAE lenders think so
“Banking will transform more in the next five years than it transformed in the last 30 years,” said Miguel Rio-Tinto, Emirates NBD’s Group Chief Digital and Information Officer.
Key points
- Emirates NBD, Dubai’s largest lender by assets, shared how it has more than 150 AI initiatives underway, with 65 already in production.
- The UAE’s Cyber Security Council warned that cybercriminals are increasingly harnessing AI to devise more sophisticated attack methods.
- Developments highlighted at last week’s Dubai FinTech Summit 2026 suggest that the country’s largest lenders are no longer simply experimenting with AI but preparing to make it a fundamental part of how they operate.
While cybersecurity is emerging as a critical area where AI can make a difference, UAE lenders are looking to deploy the technology across a broad range of functions, with Commercial Bank of Dubai (CBD) unveiling a series of strategic technology partnerships at the summit.
Additional details
- According to Evident, a London-based market intelligence firm which compiled the ranking, Emirates NBD “explicitly” links AI to enterprise productivity, operational modernisation and the UAE’s national AI agenda.
- “Generative AI and advanced frontier models are so powerful that they are opening up new possibilities for automation in banking, enabling capabilities that were previously out of reach across customer service, internal processes and employee support.
- In July, the UAE successfully thwarted a series of sophisticated cyberattacks targeting its financial sector that sought to compromise digital systems and technical infrastructure through phishing campaigns and malicious software.
- In the UAE, daily attempted cyberattacks reportedly surged from around 200,000 to as many as 700,000 amid the escalating geopolitical tensions.
- The bank plans to integrate OpenAI’s models across its operations to enhance customer experiences, strengthen risk management and financial crime prevention through advanced analytics, automate processes and boost employee productivity.
How this summary was made: extractive summary — built from the sources' own reporting. It is drawn only from the reporting of the sources listed below — read the originals for full detail. How we summarize →
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