The U.S.-U.A.E. Business Council held a private discussion on Tuesday, December 10th with Hana Al Rostamani, the Group CEO of First Abu Dhabi Bank (FAB) and Naim Yazbeck, General Manager of Microsoft U.A.E. The high-level discussion with two of the U.S.-U.A.E. Business Council’s Vice co-Chairs took place at FAB’s Head Office in Abu Dhabi. The U.S.-U.A.E. Business Council convened select business executives from prominent U.S. and U.A.E. technology, financial services, and energy companies to discuss the impact of artificial intelligence (AI) on the financial services vertical.
Ms. Al Rostamani labeled AI as a “transformational force” that will redefine banking and deliver cutting-edge and personalized solutions to clients. She outlined ways that AI adoption will streamline operations, improve decision-making, and mitigate risks for financial institutions. She affirmed that FAB is committed to driving innovation through AI, accelerating global growth, and shaping the future of financial markets.
Ms. Al Rostamani detailed the FAB AI Innovation Hub, a groundbreaking initiative with Microsoft and Bain aimed at developing cutting-edge AI solutions. She stated that the hub supports FAB’s ambitions to become the U.A.E.’s first AI-powered bank and she emphasized that partnerships between financial institutions and technology leaders, like Microsoft, are fostering innovation ecosystems. She underscored that FAB’s AI initiatives position the bank at the forefront of the U.A.E.’s National Strategy for Artificial Intelligence 2031.
Mr. Yazbeck noted that AI adoption is accelerating globally, including in the financial services vertical. He outlined that Microsoft partners with major banks, such as FAB, to integrate AI into their operations. He stated that AI enablement requires vast computing power and storage, and the importance of skilling AI for future generations.
Ms. Al Rostamani discussed the broader Microsoft-FAB strategic partnership and its positive impact. She noted that FAB utilizes Microsoft’s cloud infrastructure to drive digital transformation, particularly in payment processing and customer insights. She also cited FAB’s partnership with Mastercard on AI-related initiatives, which will help scale up the region’s digital payments ecosystem, a key priority for FAB. Mr. Yazbeck cited semiconductor manufacturing, data centers, and energy infrastructure as important areas for AI-related capital investment. He underscored that mobilizing these investments requires coordinated efforts from governments and leading financial entities such as FAB. Ms. Al Rostamani added that FAB plays a vital role in facilitating global AI investments through financing and partnerships.
Ms. Al Rostamani discussed the issue of sustainability and AI, noting that FAB’s AI Innovation Hub focuses on sustainability and aligns with the U.A.E.’s net zero goals and FAB’s own climate commitments. Mr. Yazbeck noted one of Microsoft’s key offerings is the Microsoft Cloud for Sustainability, a suite of cloud-based tools and services specifically designed to help companies measure, manage, and reduce their environmental impact. Mr. Yazbeck outlined that companies and governments can collaborate to scale AI infrastructure sustainably by investing in new technology, developing regulatory frameworks, and promoting innovation.
Mr. Yazbeck predicted that as AI becomes more prevalent, regulatory updates will be necessary to both address and mitigate emerging risks such as data security. Ms. Al Rostamani remarked that collaboration between regulators, financial institutions, and technology firms will be essential for the responsible use of AI. She noted that FAB’s strategic partnership with Microsoft helps set industry standards and best practices for governance of AI.
For more information about this event, please contact Matthew Gardell at mgardell@usuaebusiness.org.
For more information about the U.S.- U.A.E. Business Council’s upcoming programming and activities in the financial sector, please contact Caitlin Cottrell at ccottrell@usuaebusiness.org.
