"Financial bodies " During Abu Dhabi Financial Week, the challenges of artificial intelligence are discussed
ABU DHABI, December 11, 2024 – The Financial Services Regulatory Authority at Abu Dhabi Global ADGM hosted the third session of the Global Financial Regulatory Summit during Abu Dhabi Financial Week 2024, where representatives of regulatory bodies from the Middle East and North Africa, the European Union, the United Kingdom, and Asia met. .
In light of the changes taking place in the financial sector to keep pace with new and advanced technologies, this year’s exclusive summit focused on the role of artificial intelligence in the financial services sector.
The summit provided a platform for global financial sector regulatory leaders to discuss the risks and challenges associated with the adoption of artificial intelligence.
The summit also explored the important opportunities presented by the development of artificial intelligence, and strategies that support innovation while ensuring customer protection, integrity in the markets and the responsible use of artificial intelligence technologies by licensed financial bodies and regulatory bodies.
The first dialogue session reviewed the uses of artificial intelligence in the field of verification and authentication in financial services, supervision, and enforcement, highlighting the importance of these uses to enhance efficiency and speed through advanced analytics, while the second session discussed the risks and opportunities of adopting artificial intelligence solutions by regulatory authorities, and came up with many Important insights and conclusions about organizational and supervisory methodologies.
The high-level discussions hosted at the exclusive summit were later shared with attendees participating in Abu Dhabi Financial Week.
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