Abu Dhabi Islamic Bank’s (ADIB) innovation arm, ADIB Ventures, partnered with the DIFC Innovation Hub to launch the Generative AI (Gen AI) Innovation Challenge, aimed at advancing banking through cutting-edge AI solutions.
The challenge invited global startups and tech innovators to present Gen AI-driven products capable of enhancing banking services, optimising operations, and improving customer experiences.
Winning participants earned the opportunity to collaborate with ADIB to pilot their solutions in real-world banking environments, with potential for long-term partnerships.
DeepOpinion, an Austria-based AI platform specialising in natural language understanding (NLU) and document intelligence, emerged as the winner.
Their solutions, which automate workflows like document processing and customer service enhancement, align with ADIB’s focus on operational excellence and digital transformation.
Fernando Plaza, Chief Digital Officer at ADIB, emphasised the significance of the initiative:
“The Generative AI Innovation Challenge reflects ADIB’s commitment to shaping the future of banking. By leveraging AI, we aim to enhance operational efficiency, strengthen customer relationships, and accelerate digital transformation in the financial sector.”
Featured image credit: edited from ADIB
