In line with the UAE’s Artificial Intelligence Strategy 2031: EDB Launches AI Wave Program to Embed AI Across the Organization

Abu Dhabi, United Arab Emirates, 8 September 2024 – Emirates Development Bank ("EDB"), the key financial engine of economic development and industrial advancement in the UAE, has launched its internal AI Wave program, a strategic initiative designed to enhance organization-wide AI literacy and adoption. In alignment with the UAE's Artificial Intelligence Strategy 2031, the program aims to support the UAE’s position as a global leader in AI innovation while improving government efficiency by advancing banking services through the effective integration of AI technologies.

As a federal government entity, EDB is committed to fostering AI adoption through a comprehensive educational and awareness program. This organization-wide initiative focuses on building knowledge and understanding of AI technologies and best international practices among employees from all departments of the Bank, empowering them to effectively integrate these tools into their roles. By promoting AI literacy and strategic insight from the top down, EDB aims to contribute actively to the UAE's digital transformation goals, ensuring its workforce is equipped to drive innovation, enhance decision-making, and optimize operations in alignment with the nation's strategic vision.

H.E. Ahmed Mohamed Al Naqbi, CEO of EDB, said: “As the UAE’s development bank, we are at the forefront of enabling the nation's economic transformation. Our role in supporting the UAE's ambition to become a global AI leader is not just about adopting technology; it's about strategically embedding AI into our operations to drive innovation, efficiency, and sustainable growth. The AI Wave program demonstrates our commitment to this vision, empowering us to set new benchmarks for government excellence and efficiency. We envision a future where AI-driven insights and solutions underpin our strategic decision-making, optimize our service delivery, and ultimately contribute to a more prosperous, resilient, and technologically advanced national economy."

Reflecting on the UAE Government's commitment to leveraging AI's potential to transform service delivery, the AI Wave program emphasizes strategic partnerships to drive impactful initiatives. These efforts aim to accelerate the adoption of AI across EDB's departments, enhancing efficiency and innovation.

Dr. Abeer Al Sumaiti, Chief Human Resources Officer at EDB, said: “The AI Wave program is an essential step in embedding AI across the organization, fostering a workforce that is well-versed in AI technologies and prepared to drive innovation at every level. This initiative ensures that AI integration is achieved from the top down, creating a robust, agile, and forward-thinking culture within EDB.”

The program's knowledge sessions kicked off with an insightful session led by Irina Petrakova-Otto, Chief Technology Officer of Private Capital and AI at Microsoft, who shared valuable insights on AI applications with EDB's executive management, focusing on the transformative potential of AI in the banking sector and exploring its various applications across different departments. The second session was led by Martin Hayward, a partner from the leading global law firm Pinsent Masons, who delved deeper into the practical aspects of AI implementation, covering topics such as data management, model development, and ethical considerations, equipping EDB staff with the knowledge and tools to effectively leverage AI in their respective roles. The AI Wave program will continue to feature a series of interactive workshops, seminars, and hands-on training sessions, ensuring that EDB's workforce remains at the forefront of AI advancements and is empowered to drive innovation and transformation within the bank and the wider UAE.