Arab News
RIYADH: Saudi Arabia’s digital banking has achieved a significant advancement after a leading bank introduced artificial intelligence technology, significantly enhancing its operational efficiency and customer experience.
Riyad Bank announced on July 23 the launch of the first-of-its-kind specialized center for artificial intelligence technologies and services in the Saudi banking sector, known as the Center of Intelligence.
The center will allow the bank and its business sectors to harness the latest AI innovations and derive significant value from advanced, proactive analytical insights, while advancing the bank’s vision with the highest standards of quality and innovation, according to a statement from the financial institution.
The move aligns with the broader national goals outlined in Saudi Vision 2030, particularly the Financial Sector Development Program, which works together with the Saudi Central Bank to provide banking services that are more accessible.
The program is committed to contributing to the stability and growth of the banking system to make it even more convenient by investing in technology and offering a wide range of financial products and services.