Riyad Bank recently announced the launch of the first specialized center of its kind for artificial intelligence (AI) technologies and services in the Saudi banking sector under the name Center of Intelligence (COI).
This center will enable the bank and its business sectors to leverage the latest innovations in AI and unleash great value from advanced and proactive analytical insights. This supports realizing Riyad Bank’s vision in line with the highest quality and innovation standards.
The bank’s AI center will provide an advanced research, innovation and analytical environment that utilizes technology and machine learning techniques to support and enhance the effectiveness, the efficiency of its investments, and the continuity of its operations.
Riyad Bank’s Center of Intelligence will also play an active role in providing smart proactive and predictive analytics in multiple vital sectors that impact the bank’s business plans and strategies.
Nadir Al-Koraya, CEO of Riyad Bank, stated that the center contributes to the localization of AI solutions in Saudi Arabia’s business sector.
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“This center is the result of our continuous efforts to optimize the investment of capabilities in order to maximize the value achieved for our customers, shareholders, and the bank’s employees, and will have an impact on accelerating the bank’s digital transformation and innovation, and by steering the different parts of the bank to be more innovative and productive,” he added.
The launch also falls in line with the goals of Vision 2023 and enhances Riyad Bank’s position as a leading environment that deploys AI technologies in the region.
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