Developing Advanced Financial Solutions: UAE Ministry of Finance’s Initiatives in Digital Transformation and Artificial Intelligence

2023-10-21 22:06:02

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, affirmed the ministry’s keenness to develop advanced financial solutions that allow the growth of various sectors within a safe environment, thus enhancing the UAE’s position as a high-class economic and financial destination.

His Highness added: “The Ministry adopts a proactive approach to providing advanced financial solutions that support various sectors, especially the digital economy and advanced financial technologies.”

The Ministry of Finance concluded its participation in GITEX Technology Week, highlighting its pioneering experience in digital transformation and artificial intelligence, providing metaverse solutions to government agencies, facilitating customers’ journey towards a more comprehensive future, and reviewing its digital systems, smart and innovative projects and initiatives in the financial field.

The Ministry briefed visitors to the exhibition on a group of systems, projects, artificial intelligence initiatives and digital services, the Ministry of Finance’s generative artificial intelligence platform “ChatGPT”, the digital procurement platform Metaverse, the federal asset tracking systems Metaverse, the suggestions platform, the violations reporting service, and the registration of suppliers in the supplier registry. Federal, in addition to the service of collecting public revenues and public funds.

The Ministry organized a discussion session entitled “Ministry of Finance Initiatives in Artificial Intelligence,” presented by Mishal bin Hussein, Director of the Information Technology Department, during which he reviewed the “Ministry of Finance Metaverse,” through a prototype of the digital procurement platform, which allowed the public to explore products and services to facilitate the customers’ digitally enhanced journey, and presented How the platform improves communication between government customers, through a number of things, such as “Hessa,” which is a smart digital assistant (chat robot) that can direct the user on how to complete certain tasks or provide information and provide a group of other assistance to improve the user’s experience with the system.

For details, read also:

Maktoum bin Mohammed: Our goal is to consolidate the UAE’s position as a high-class economic and financial destination

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