"Finance" You win a prize "Innovation for the effect" In artificial intelligence applications
Geneva, July 11 / WAM / The Ministry of Finance won the “Innovation for Impact” award for the category of artificial intelligence applications in the financial sector, as part of the “AI Summit for the Public Good Good”, organized by the International Telecommunication Union in partnership with United Nations agencies at the International Exhibition and Conference Center “Balcsbo” in Geneva.
This award comes in appreciation of the distinguished efforts made by the UAE, represented by the Ministry of Finance, in the uses of artificial intelligence technologies in the areas of fraud detection, risk evaluation, algorithm trading, and customer service, which contributes to enhancing the efficiency of financial systems and supporting the achievement of sustainable development goals.
His Excellency Mohammed bin Hadi Al -Husseini, Minister of State for Finance, stressed that the Ministry of Finance’s victory in this award is a practical embodiment of the vision of the rational leadership of the UAE in being a pioneer in employing advanced technologies, especially artificial intelligence, in developing the government work system and enhancing its leadership in the vital sectors, including the financial sector.
He said that the ministry adopted a founding approach in innovation based on a sustainable digital transformation, and invested in building a flexible and comprehensive technical infrastructure, capable of responding to challenges and achieving added value in managing public financial resources, and that this honor is a testament to the success of its efforts in integrating artificial intelligence tools within the strategies of risk management, operational efficiency and financial transparency.
He added that the award constitutes an additional incentive to continue the process of building a balanced government financial system, which depends on data and innovation, and keeps pace with the state’s aspirations for the next fifty years; The Ministry is looking to deepen its partnerships with regional and international bodies to exchange experiences and experiences, in a way that supports sustainable development goals, and establishes the position of the UAE as a global model in smart governance.
His Excellency Younis Haji Al -Khoury, Undersecretary of the Ministry of Finance, said in a speech during the reception of the award, that this achievement reflects the commitment of the UAE to strengthen its leadership in the field of artificial intelligence, and to employ it in developing a leading government financial system that supports the process of sustainable development.
He added that the UAE believes that innovation is the essence of government work, and that artificial intelligence is a pivotal tool in achieving efficiency and transparency and enhancing the predictive capacity in managing public finances, noting that the ministry continued to develop its technical capabilities to ensure the effective response to the economic environment variables.
He pointed out that the ministry is working to consolidate the culture of institutional innovation by stimulating national cadres and providing a supportive environment for creativity, which crystallizes in launching a number of qualitative initiatives that have proven useful in improving government financial performance, including developing a smart budget management system that depends on predictive analyzes, and artificial intelligence applications to monitor economic and financial indicators in a manner that.
Al -Khoury appreciated this honor as a global testimony to the leadership of the UAE in employing modern technology to serve the sustainable development goals, stressing that the ministry will continue to work with its partners at the local and international levels to exchange experiences and achieve the best results.
It is noteworthy that the “AI Summit for the Public Goodness” is the official platform of the United Nations in the field of artificial intelligence, and is organized by the International Federation for Communication in partnership with 47 United Nations agencies, and in cooperation with the Swiss government.
The summit aims to explore the capabilities of artificial intelligence, identify its innovative applications, and develop skills and standards, as well as strengthening international partnerships to address global development challenges.
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