The UAE’s visionary AI Strategy 2031 is the blueprint for our country’s next economic era. As His Highness Sheikh Mohammed bin Rashid Al Maktoum rightly stated, “The future belongs to those who can imagine it, design it, and execute it.” This sentiment perfectly captures the challenge and opportunity for embedding AI into how we work and make decisions. Since 2024, the UAE has already invested bns in AI and continues to accelerate these efforts.

Investments are coming largely from global technology leaders, like Microsoft, which has committed USD 15.2 bn to AI and cloud infrastructure in the UAE through 2029. The UAE also established a dedicated AI investment vehicle, MGX Fund Management Limited, targeting USD 100 bn in AI-related assets. In parallel, the UAE-US AI Acceleration Partnership enables access to advanced AI semiconductors for Emirati AI company G42, strengthening high-performance computing capabilities. Additionally, the UAE recently launched the USD 1 bn ‘AI for Development’ initiative to expand AI infrastructure and services across Africa. Collectively, these efforts underscore the UAE’s ambition to become a global AI leader by 2031.

For the financial sector in the UAE, this represents a clear call to action to accelerate AI adoption and actively design the future.

At Mashreq, this vision is driving a fundamental transformation of the bank. We aim to continue our growth path with our current global workforce. Digitalization, fueled by AI, is simplifying and scaling processes, improving information quality and controls, enhancing client experience, and enabling faster, better business decisions. This progress is reflected in award-winning, in-house AI platforms, including Eagle Eye, our financial crime and compliance investigations system, and Cypher, an AI-powered reconciliation investigation platform.

The next phase will move beyond performance management based on historical data towards predictive insight and early intervention. AI-driven analytics is reshaping the financial function by enabling real-time forecasting and complex risk scenario analysis, delivering improved accuracy and shorter planning cycles. Most importantly, it frees finance teams from manual reconciliation, allowing a shift towards higher-value strategic advisory.

While AI’s technical capabilities are compelling, the true integration challenge is human. It rests on three pillars: data quality, system fragmentation, and skills readiness. Strong governance and a unified data strategy are essential. But technology alone is not transformative; people are.

Our teams must excel in data interpretation, storytelling, and digital literacy. My focus is on equipping our talent to translate advanced analytics into sound commercial judgment, while maintaining the rigorous governance that defines a resilient financial institution.

Looking ahead, the most significant trend will be AI’s evolution from automation to augmentation. Institutions that invest early in people, redesign roles, and strengthen governance will lead this transition, proving that in the age of AI, the human element remains the decisive advantage.

Norman Tambach

Group Chief Financial Officer, Mashreq

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