ABJ held a dialogue meeting today, Tuesday 7/12/2021, to discuss how to “find a preferential advantage for the banking sector in using artificial intelligence and future management tools.”

The meeting, which was attended by bank chairmen, CEOs, general managers, and ABJ Director-General Maher Al-Mahrouq, aims to shed light on how to use artificial intelligence and future management tools in the banking sector so that it can maintain its competitiveness and strengths and maintain its preferential advantage in a constantly changing world.

Ammar Al-Safadi, Vice Chairman of the Association’s Board of Directors, stressed that banks are always proactive in adopting technological and digital solutions in their business models pointing out that future foresight reports confirm that the banking sector must constantly keep pace with the change in the technological environment.

He pointed out that the world witnessed during the last decade an accelerating boom in the technological and digital fields that changed the way of life and doing business as modern concepts and terms appeared to the surface and became popular very quickly, such as “Blockchain”, “Fintech”, big data, artificial intelligence and others.

Al-Safadi said that this meeting comes within the association’s strategic plan to maintain communication with member banks, strengthen relations between them hold high-level meetings and seminars in addition to shedding light on various important developments in the banking industry.

In turn, the international consultant, Rami Shaheen, reviewed how to develop banking systems using artificial intelligence and future management tools, and the difference between digital transformation and the use of artificial intelligence applications noting that the latter provides a complete development of the system and better services in record time at a lower cost.

He pointed out that the goal of using artificial intelligence and future management tools lies in providing staff the institution needs in addition to achieving the exponential growth of the banking and financial sector.