News DeskDubai, UAE – Fintech Surge 2023, a global gathering for the fintech industry, commenced at Dubai Harbour, uniting players from across the sector. The event’s opening session explored the impact of generative artificial intelligence (AI) on banking.
Ahmed Alzarouni, VP and Head of IT at Investment Corporation of Dubai, discussed the potential of generative AI, emphasizing its ability to detect tone, text, and human emotions. He highlighted its value in improving services while warning against inputting confidential data into such systems.
Anand Krishnan, Director, Head of Technology at Emirates Investment Bank PJSC, underlined how Gen AI is aiding banks and customers with quick investment strategies and hyper-customization, responding to evolving customer demographics.
Alex De Vries, Data Scientist at the Dutch Central Bank, expressed concerns about the energy-intensive nature of AI and the risks associated with fake information generation. He stressed the importance of GDPR regulations and avoiding algorithmic biases in financial services.
SME Elevate, a parallel event, also started, emphasizing the growing adoption of digitalization in the business landscape. N.S Nanda Kishore, CEO of Novac Technology Solutions, noted that managing AI-related risks is a key challenge but predicted significant AI adoption by 2030.
With over 100 exhibitors, 160 speakers, and 1,000 investors in attendance, Fintech Surge 2023 is a leading platform for the global fintech ecosystem, co-located at the Middle East’s largest superyacht hub in Dubai Harbour. Sponsors include Mastercard, Emirates NBD, and other industry leaders. The event runs from October 15 to 18, alongside Expand North Star, offering a platform to advance the interconnected fintech ecosystem.
