Will AI change banking more in the next five years than the past 30? UAE lenders think so

Detailed summary

As Dubai’s banks move towards deploying more advanced AI systems, the technology is becoming a strategic priority–one that looks set to reshape how financial services are delivered and how banks compete.

Banking in the UAE is approaching an inflection point as AI begins to reshape everything from customer service and compliance to cybersecurity and internal operations.

Developments highlighted at last week’s Dubai FinTech Summit 2026 suggest that the country’s largest lenders are no longer simply experimenting with AI but preparing to make it a fundamental part of how they operate.

Emirates NBD, Dubai’s largest lender by assets, shared how it has more than 150 AI initiatives underway, with 65 already in production.

The bank, which is majority government-owned, has been aggressively scaling its digital transformation by committing approximately 50% of its technology budget to AI.

In June,Emirates NBD was ranked first in the Evident AI Index for Banks – Middle East & Africa which assesses how banks across these regions are deploying AI and adapting their operations to the technology’s transformative impact.

The survey carried out by Evident, a London-based market intelligence firm, comprised more than 100 companies, including insurers and payment processors.

It noted that Emirates NBD “explicitly” links AI to enterprise productivity, operational modernisation and the UAE’s national AI agenda.

Last month, Emirates NBD became the first bank in the MENA region to deploy OpenAI’s GPT models using local, in-country infrastructure. This allows it to run advanced LLMs at scale while meeting strict UAE data residency, privacy, and regulatory compliance laws.

The bank plans to integrate OpenAI’s models across its operations to enhance customer experiences, strengthen risk management and financial crime prevention through advanced analytics, automate processes and boost employee productivity.

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