"Securities and commodities" It adopts a service organization "Automated Adviser"
Abu Dhabi on July 1 / WAM / The Securities and Commodities Authority announced the adoption of the organization of the service of the “Automated Advis Advisor” service, in a move that reflects the authority’s direction towards digital transformation and enhancing the efficiency of smart financial services, in line with global trends and the aspirations of local investors.
This decision comes within the approved transfer authority projects, which aim to support the competitiveness of national financial markets, accelerate the adoption of digital solutions, and the effective contribution to achieving the targets of the “vision of the Emirates 2031” aimed at building a competitive and sustainable knowledge economy.
The new organization allows companies licensed by the authority to carry out the activity of the governor’s management exclusively to provide the services of the automated advisor to its customers, through digital platforms that depend on artificial intelligence technologies and smart algorithms that provide automated investment recommendations, while ensuring the provision of the highest standards of governance, transparency and the protection of investor rights, within the approved frameworks of the investment portfolio management “whether they are on an estimated or non -estimated basis” and according to the agreement Customer.
This service -backed by artificial intelligence contributes to building a balanced investment portfolio that corresponds to the goals of investors and the level of their acceptance of risks, in order to enhance the efficiency of asset management and keep pace with digital transformation in the financial sector.
The organizational framework includes a set of strict controls to ensure the quality of performance and protect the rights of investors, including contracting independent auditors in the field of information technology, applying the highest standards of cybersecurity, and conducting periodic reviews on the algorithms and regulations used, in addition to adhering to the full disclosure of customers about the nature of the service, its costs, and the risks associated with them.
His Excellency Walid Saeed Al -Awadi, CEO of the Securities and Commodities Authority, stressed that this organization represents a detailed station within the map of the digital transformation of the authority, and said that the organization of the automated advisor service translates its strategic vision towards building a future organizational system that keeps pace with the root transformations in the global financial sector, and re -drawing the standards of the investor protection in line with the urgent digital developments, and that the integration of artificial intelligence technologies in decision -making in decision -making. The investment is not just a technical development, but rather a decisive turning point that enhances the efficiency of governor’s management, and opens unprecedented horizons to enable investors to reach smart, sustainable, and safe financial solutions.
He added that this project constitutes a central pillar within the directions of the Authority aimed at consolidating financial innovation and establishing a dynamic organizational framework that keeps pace with the market developments and pre -challenges, in order to enhance the position of the UAE as a global financial axis with the highest levels of efficiency and investment attractiveness.
The organization of this service is part of a series of strategic initiatives launched by the authority, to enhance financial inclusion by expanding the scope of access to smart and safe investment services, while the authority continues its relentless efforts to build a flexible and sustainable financial system based on transparency, governance and innovation, in order to keep pace with global transformations in the financial sector and enhance the state’s role in leading the digital economy at the regional and international level.
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