Today's Edition
GENEVA (WAM)
The Ministry of Finance has clinched the Innovating for Impact Awards in the category of AI applications in the financial sector at the AI for Good Summit 2025, held at the Geneva International Conference Centre (CICG).
The event was organised by the International Telecommunication Union (ITU) in partnership with several United Nations agencies. The award was presented in recognition of the Ministry’s leadership in leveraging AI across a wide range of financial functions, including fraud detection, risk assessment, algorithmic trading, and customer service.
These efforts have significantly improved the efficiency of financial systems while supporting the nation’s broader sustainable development goals.
Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, said that winning the award demonstrates how the UAE leadership has successfully integrated advanced technologies, particularly artificial intelligence, into the fabric of government operations to strengthen efficiency and global competitiveness in the financial sector.
“The Ministry has adopted an institutional approach that focuses on promoting innovation and fuelling sustainable digital transformation,” Al Hussaini said. “We have invested in a flexible and integrated technical infrastructure that can adapt to evolving challenges and deliver added value in public financial resource management. This award is a testament to our success in embedding AI tools into our strategies for risk management, operational efficiency, and financial transparency.”
He added that the recognition will further motivate the Ministry’s teams to continue, with greater determination, the journey toward building a balanced, data-driven government financial system that supports the UAE’s long-term vision for the next 50 years.
“We look forward to strengthening our partnerships with regional and international entities to exchange expertise and best practices, support sustainable development goals, and reinforce the UAE’s position as a global model for smart governance,” the Minister added.
In his remarks while receiving the award, Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, said, “This achievement reaffirms the UAE’s commitment to strengthening its global leadership in artificial intelligence and deploying it to build a leading government financial system that drives sustainable development.”
He added, “We believe that innovation is the engine of effective government operations, and artificial intelligence is the key tool for achieving efficiency, transparency, and predictive capabilities in public financial management. The Ministry has invested in strengthening its technological capacities to effectively respond to shifting economic landscapes.”
AlKhoori further added that the Ministry will spare no effort to institutionalise a culture of innovation by empowering national talent and fostering an environment conducive to creativity. This approach has led to the successful launch of several high-impact initiatives, demonstrably improving government financial performance. These include an AI-powered smart budget management system, which leverages predictive analytics to monitor economic and financial indicators in real time.
He concluded, “We value this recognition as a global acknowledgment of the UAE’s leadership in harnessing advanced technologies to support sustainable development. We are committed to working hand in hand with our local and international partners to exchange knowledge and drive measurable impact.”
The AI for Good Global Summit is the United Nations’ official platform for artificial intelligence, organised by the ITU in collaboration with 47 UN agencies and with the support of the Government of Switzerland.
The summit aims to explore the potential of AI, identify transformative applications, develop skills and standards, and strengthen international partnerships to address global development challenges.
