Riyad Bank announced launching the first specialized center of its kind for artificial intelligence technologies and services in the Saudi banking sector, known as Center of Intelligence (COI). This center will enable the bank and its business sectors to leverage latest innovations in AI and unleash grate value from advanced and proactive analytical insights that supports realizing the bank's vision according to the highest quality and innovation standards.
The COI will provide an advanced research, innovation and analytical environment based on Artificial Intelligence and machine learning techniques and solutions to support and enhance the effectiveness, efficiency of its investments and continuity of its operations, through the COI’s active role in providing smart proactive and predictive analytics related to many vital indicators that affect the Bank’s business plans and strategies.
CEO of Riyad Bank, Mr. Nadir Al-Koraya expressed his pride in this qualitative addition achieved by the launch of the COI to localize artificial intelligence solutions in the business sectors in the Kingdom in alignment with the Saudi 2030 vision and its strategic objectives, which is an additional step that shows and enhances Riyad Bank's position as a leading environment that deploys artificial intelligence technologies in the region.
“This The 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 transformationand innovation, and by steering the different parts of the bank to be more innovative and productive”, he explained.
In recognition of its leading position in digital transformation and adopting cutting edge technologies, the Bank has already been recognized and won a wide range of awards and excellence, the most recent awards were: “Best Use case of AI Solutions for Customer Intelligence Intelligent and Analytics” as a recognition from the Middle East Banking Artificial Intelligence and Analytics Summit. Also, the “Price of Excellence in Artificial Intelligence and Data Science Award” provided by the Customer Experience Summit.