Latest news with #AIStrategy2031
TECHx
16-05-2025
- Business
- TECHx
Alteryx One Launches to Advance AI Integration in Analytics
Home » Emerging technologies » Big Data » Alteryx One Launches to Advance AI Integration in Analytics Dubai, UAE, May 16, 2025 Alteryx, Inc., a leading AI and data analytics company, has announced the launch of Alteryx One, a unified suite of AI-powered analytics capabilities. This new platform enables organizations to automate and scale analytics while simplifying access to trusted, AI-ready enterprise data. Alteryx One unifies analytics automation, low-code/no-code data prep, AI assistance, cloud flexibility, and enterprise governance in one centrally managed solution. The company revealed that the platform includes a centralized portal for managing the entire Alteryx portfolio across all deployment models. The new AI Control Center offers unified orchestration, combining license management with built-in governance and security. It also provides full visibility into all AI interactions, including large language models (LLMs). Ben Canning, Chief Product Officer at Alteryx, stated that Alteryx One empowers organizations with flexibility and helps them scale insights intelligently. Karl Crowther, Vice President – MEA & APAC at Alteryx, reported that national AI strategies in the Middle East are accelerating demand for platforms like Alteryx One. He cited the UAE's AI Strategy 2031 and Saudi Arabia's $100 billion AI investment as clear indicators of the region's digital focus. With Alteryx One, both public and private sectors can bridge data silos and unlock AI-powered insights with confidence. The platform now features new tiered packaging and a unified licensing portal for streamlined access, permissions, and license control. Alteryx also introduced direct access to cloud data platforms, reducing data movement and enhancing real-time processing: Live Query support for Databricks and Snowflake enables secure, real-time access to large datasets Expanded integrations include Azure Synapse, Qlik, and Starburst with enhanced cloud pushdown processing The platform supports reusable, secure connections to cloud data sources, simplifying cloud adoption and lowering costs. Alteryx One is designed to help organizations deliver trusted, AI-ready data. Siemens Energy is already using Alteryx for data extraction, blending, and preparing non-digitized content. They also built an AI chatbot that queries document repositories using LLMs, showcasing effective AI integration. A recent Alteryx survey reported that 46% of analysts face challenges with data quality, especially as more data shifts to the cloud. Alteryx One addresses this with enterprise-wide access to AI and analytics through a single platform. New AI-powered features aim to enhance productivity and simplify decision-making: Magic Reports auto-generate dynamic, customized reports auto-generate dynamic, customized reports Alteryx Copilot provides real-time workflow suggestions based on user queries provides real-time workflow suggestions based on user queries GenAI Tools, currently in private preview, integrate generative AI to automate complex tasks and create new insights These tools support leading LLMs, including OpenAI, Anthropic, and Gemini. Alteryx reported that the new capabilities will help users scale AI initiatives and improve business outcomes.
Web Release
16-05-2025
- Business
- Web Release
Alteryx Introduces a Unified Platform for Enterprise Analytics and AI Orchestration
Alteryx, Inc., a leading AI and data analytics company, today announced Alteryx One, a unified suite of AI-powered analytics capabilities that give customers greater flexibility to automate and scale analytics across their data ecosystems. The release also introduces new features that simplify access to trusted, governed, and AI-ready enterprise data. A Unified Platform for AI-Powered Analytics Traditional analytics solutions often force trade-offs between flexibility, governance, and innovation. Alteryx One eliminates these barriers by unifying powerful analytics automation, low-code, no-code data prep and blend, AI assistance, cloud flexibility, and enterprise governance, into a seamless, centrally managed platform. The introduction of a centralized portal allows customers to seamlessly manage their entire Alteryx portfolio, regardless of deployment model. Alteryx's new AI Control Center offers unified orchestration, combining licensing management with built-in security, governance, and visibility into all AI interactions, including large language models (LLMs). This centralized control helps ensure consistent access and usage policies across the platform. 'This launch marks a major step forward in making analytics accessible, collaborative, and intelligent,' said Ben Canning, Chief Product Officer at Alteryx. 'The future of AI-powered analytics is about choice and connection. Alteryx One empowers organizations with the flexibility to access analytics in any way they need and to help ensure their data is AI-ready. This release is built to help organizations scale insights, automate intelligently, and stay ahead of AI, on their own terms.' Karl Crowther, Vice President – MEA & APAC, Alteryx: 'As governments across the Middle East double down on national AI strategies and digital transformation initiatives, platforms like Alteryx One are becoming vital to turning ambition into action. The UAE's AI Strategy 2031 and Saudi Arabia's $100 billion AI and data investment reflect a clear regional mandate to empower people and systems with smarter, faster, and more scalable tools. With Alteryx One, we're enabling public and private organizations to align with this vision, bridging data silos and unlocking AI-powered insights across the enterprise with confidence and control.' With new tiered packaging and a unified licensing portal, Alteryx One provides organizations with centralized control over user access, permissions, and license management, enabling secure, scalable analytics across the enterprise. Direct Access to Data Platforms As enterprise data increasingly moves to the cloud, organizations need faster, more secure ways to work directly with their cloud data without costly data movement or unnecessary replication. Alteryx One delivers this by making data platforms an extension of the analytics environment with expanded connectivity and deeper integrations, such as Pre-/Post-SQL support for In-DB tools, enabling more advanced data processing. Additionally, real-time data access via Live Query for Databricks, the Data and AI company, and Snowflake, the AI Data Cloud company, turns Alteryx into a direct window into the data platforms. Customers can now work with massive datasets in real time, accelerating data preparation while maintaining security and performance. Alteryx One also introduces shared connectors and plans, enabling IT teams to establish secure, reusable connections to cloud data sources. To support broader enterprise needs, Alteryx One expands connectivity with new and updated connectors for platforms like Azure Synapse, Qlik, and Starburst, along with enhancements to improve cloud pushdown processing. Together, these enhancements simplify cloud adoption for analytics teams and deliver faster access, lower costs, and stronger governance without compromising flexibility or control. Delivering Trusted, AI-Ready Data Customers like Siemens Energy are leveraging Alteryx to extract, prepare, and blend data — fostering data democratization, and a digital mindset. This transformation includes the successful adoption of AI and LLMs, for example, to unlock valuable insights from previously hard-to-access and non-digitized data. By integrating Alteryx with a data platform and LLMs, Siemens Energy has developed an AI-powered chatbot that enables users to query extensive document repositories. A recent Alteryx survey found that data integration continues to be a significant challenge for data analysts. Nearly half (46%) of analysts report that data quality issues are their biggest obstacle when preparing data. This challenge is amplified as more organizations move their data to the cloud, increasing the demand for faster and more seamless access to data in cloud data platforms. In today's AI-driven business environment, these difficulties inhibit organizations' ability to efficiently prepare data for analytics and AI applications. As organizations seek to balance the benefits of AI initiatives and the challenge of AI governance for broad usage analytics, Alteryx One delivers scaled access to data and AI across the business for all knowledge workers in one unified platform. New capabilities include a suite of powerful AI-driven features designed to streamline analytics and decision-making. Magic Reports leverages AI to automatically create customized, dynamic reports, significantly reducing manual effort and enabling faster, more insightful reporting. Alteryx Copilot, currently in public preview, is an interactive assistant that transforms user questions into actionable workflows in real time, going beyond traditional chatbots to offer intelligent guidance and tool recommendations. Meanwhile, the GenAI Tools, in private preview, integrate generative AI directly into workflows to automate complex tasks and unlock new ways to generate insights and orchestrate logic. With support for leading LLMs like OpenAI, Anthropic, and Gemini, these tools empower users to move past routine automation and embrace the full potential of AI. Together, these innovations make it easier for organizations to scale AI initiatives, enhance productivity, and drive smarter business outcomes across the enterprise.
Al Etihad
24-04-2025
- Business
- Al Etihad
UAE to become first country to utilise AI in writing laws
25 Apr 2025 00:20 KHALED AL KHAWALDEH (ABU DHABI) The UAE is set to become the first country to actively use AI to help write and review new and existing legislation. The landmark initiative will further solidify the country as a leading practitioner of emerging technology and could possibly serve as a case study for the rest of the world. The new programme will fall under the umbrella of the newly formed 'Regulatory Intelligence Office', which was approved by the Cabinet on April 14. It seeks to create a singular body to integrate AI into every stage of lawmaking, using data to analyse the effectiveness of new and existing legislation. 'The new system will allow us to track the daily impact of laws on our people and economy using large-scale data, and it will regularly suggest updates to our legislation,' His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said in a statement. 'The system will be linked to leading global research centres to follow the best international policies and legislative practices, adapting them to suit the UAE's unique circumstances,' His Highness added. The move is a continuation of the UAE Government's world-leading push to become a centre for both the implementation and development of AI. Having launched its AI Strategy 2031 and appointed the world's first Minister of AI, the UAE Government is looking to lead by example by utilising emerging technologies across its functions. As part of Dubai AI Week, the Dubai Centre for Artificial Intelligence (DCAI) on Thursday released a report detailing 15 use cases across government that have already yielded substantial efficiency gains. In one case, an existing programme managed to see a 300% increase in the recovery of lost items. Another recorded a 94.6% improvement in the accuracy of multilingual government digital texts and transcripts, while some other case witnessed an 85% boost in real estate valuation accuracy.'We are building a comprehensive platform that unites the public and private sectors with academia to develop and deploy AI solutions, shape enabling policies and legislation, raise awareness, and spread knowledge,' said Saeed Al Falasi, Director of report included key research that detailed how AI could be further implemented to improve urban environments, healthcare, operational and logistical costs as well as customer satisfaction. It forecast that by making these changes, the Dubai Government can radically reduce its overhead by 70%, improve results and help usher in an industry that could make up to14% of the UAE's GDP by 2030. In Abu Dhabi, a strategy has been set to create an AI-powered government, based on an announcement early this year. With an investment of Dh13 billion in innovations for 2025-2027, the emirate seeks to build the world's first fully AI-native government across all digital services in two years. The 'Abu Dhabi Government Digital Strategy 2025-2027' aims to establish a robust digital infrastructure, creating a flexible and scalable foundation to achieve 100% adoption of sovereign cloud computing for government operations and digitising and automating 100% of processes, according to the announcement in January. The transition to AI integration is not without its costs, with the UAE leading the world in AI investment both domestically and abroad. A recent report by Boston Consulting Group found that the country led the region in AI preparedness due to its substantive infrastructure both existing and under development, including 35 Data Centres already in operation. Moreover, the report found that the UAE had succeeded in attracting almost 7000 AI specialists to help implement the transition although it warned that talent could be a constraint going forward.
Hi Dubai
24-04-2025
- Business
- Hi Dubai
How AI & Automation Are Transforming Businesses in Dubai
Dubai's bold pursuit of technological excellence is a fast-evolving reality. Across every sector, artificial intelligence (AI) and automation are driving profound change, reshaping the way businesses operate, grow, and compete in one of the world's most dynamic economies. These technologies are not only streamlining internal processes but also redefining customer experiences, opening doors to new opportunities that were unimaginable a few years ago. Backed by forward-thinking government strategies like the UAE AI Strategy 2031 and initiatives under Smart Dubai, companies in the emirate are embracing everything from predictive analytics and intelligent robotics to automated logistics and AI-powered customer service. Whether it's a multinational corporation or a local startup, the pressure and potential to integrate AI and automation into business models is higher than ever. In this article, we explore how businesses in Dubai are adapting to this intelligent revolution, which sectors are leading the charge, what support systems are enabling this transformation, and what the future might hold as AI becomes a core pillar of the city's economic infrastructure. Why AI and Automation Matter for Dubai's Economy? Dubai's rapid embrace of AI and automation isn't an isolated trend—it's a national priority. The UAE's Artificial Intelligence Strategy 2031 laid the foundation by aiming to position the country as a global leader in AI, targeting sectors like transport, health, education, and energy. Dubai's own initiatives under Smart Dubai further accelerated the adoption of intelligent systems, setting the tone for a tech-driven economy. This strategic focus is more than futuristic branding. It's delivering measurable economic value. According to PwC, AI is expected to contribute up to AED 352 billion to the UAE economy by 2030, with Dubai poised to claim a major share thanks to its high-tech infrastructure and startup-friendly ecosystem. AI and automation technologies are helping businesses in the emirate to: Reduce operational costs by automating repetitive tasks like data entry, logistics tracking, and invoice processing. by automating repetitive tasks like data entry, logistics tracking, and invoice processing. Enhance decision-making through data-driven insights powered by machine learning and predictive analytics. through data-driven insights powered by machine learning and predictive analytics. Improve customer service using AI-powered chatbots, voice assistants, and intelligent CRM platforms. using AI-powered chatbots, voice assistants, and intelligent CRM platforms. Optimise supply chains via automation tools that forecast demand, manage inventory, and ensure real-time tracking. via automation tools that forecast demand, manage inventory, and ensure real-time tracking. Enable personalisation at scale, especially in e-commerce, hospitality, and finance sectors. Dubai's appeal lies in its readiness to adopt these technologies quickly. With over 90% internet penetration, smart government services, and active digital transformation in both the public and private sectors, businesses here are uniquely positioned to lead the next wave of innovation. How Dubai Businesses Are Using AI to Transform Operations AI and automation are no longer exclusive to tech companies—they're being adopted by businesses across Dubai, from family-run firms to regional giants. These technologies are helping companies optimise workflows, personalise services, reduce costs, and operate smarter at scale. Healthcare Providers Are Getting Smarter Clinics and hospitals across Dubai are using AI for early disease detection, patient data analysis, and appointment scheduling. Aster Clinics, for instance, use AI chatbots to triage patient needs before a human consult. Robotic surgery assistance and remote monitoring tools are also being used by private healthcare centers to increase accuracy and reduce recovery time. Logistics Firms Are Operating with Precision Companies like Aramex and Emirates Post have introduced automation in last-mile delivery using route-optimisation AI and warehouse robotics. DP World's Jebel Ali port uses automated cranes and predictive algorithms to manage global shipping traffic, helping reduce delays and operational costs. Retailers Are Delivering Per Experiences Brands such as Namshi, Carrefour, and even local boutiques are now using machine learning to analyse buying patterns, recommend products, and manage inventory. Self-checkouts, facial recognition for loyalty rewards, and chat-based shopping are examples of how Dubai's retail businesses are blending tech with convenience. Real Estate Companies Are Streamlining Processes Real estate firms like Emaar and Bayut are using AI for customer service, virtual tours, and even to match buyers with ideal properties based on behaviour patterns. Property management companies are introducing smart building systems that adjust lighting, climate, and maintenance schedules automatically, improving efficiency and tenant experience. Banks and Fintech Startups Are Offering Smarter Services Banks like Emirates NBD and fintech startups such as YAP are using AI for fraud detection, loan assessments, and predictive spending tools. Chatbots handle thousands of queries daily, while AI-backed robo-advisors help customers make investment decisions tailored to their financial goals. Hotels and Travel Businesses Are Enhancing Guest Journeys Hotels like Atlantis The Palm and Jumeirah Group are deploying AI tools for personalised service, from automating guest requests to optimising energy use in rooms. Online travel agencies are using algorithms to suggest tailored travel packages based on browsing and past bookings. Construction and Manufacturing Businesses Are Increasing Efficiency Local construction firms are using AI-powered drones for site surveys and progress tracking. 3D printing, championed by businesses like ACCIONA in Dubai, is being used for building prototypes faster and with less waste. This allows firms to finish projects on tighter deadlines and lower budgets. The Rise of Dubai's AI-Driven Startups and Business Innovators Dubai isn't just adopting AI—it's building it. A new generation of homegrown businesses is using artificial intelligence at the core of their operations, not as an add-on but as the engine of innovation. These startups and pioneers are helping Dubai position itself as a global AI hub while solving everyday business challenges. Derq – Making Dubai's Roads Safer with Predictive AI Founded out of MIT and now rooted in Dubai, Derq is using AI to address one of the region's most urgent urban challenges: traffic safety. Their platform turns real-time traffic data into life-saving alerts and optimisations. AI-driven systems predict potential collisions and send warnings to connected vehicles, improving driver awareness and reducing response times. Integrated with V2X (vehicle-to-everything) infrastructure, their technology enables smart intersections and smarter traffic flow. The result is fewer accidents, smoother commutes, and a new model for how cities can proactively manage urban mobility. Key2Enable – Designing Technology for Digital Inclusion Key2Enable is making digital spaces more accessible for people with disabilities. From its base in Dubai, the company develops tools that transform how users with motor challenges interact with computers. Its AI-enhanced keyboard, Key-X, enables individuals with limited mobility to use digital devices independently, opening new doors to education and employment. AI also personalises interactions, adapting to each user's capabilities and needs to ensure effective communication and usability. Their work demonstrates how thoughtful technology design, when powered by AI, can make empowerment a reality for all users, regardless of physical limitations. WakeCap – Bringing Real-Time Intelligence to Construction Sites WakeCap, a Dubai-born startup, is improving construction site efficiency through wearable IoT devices powered by AI. The goal: to turn one of the world's oldest industries into a more data-smart one. Workers wear smart helmets and badges that collect real-time data on site activity, safety compliance, and movement patterns. AI then analyses the data to identify inefficiencies, streamline schedules, and detect potential hazards before they become incidents. It gives site managers a live overview of workforce productivity and safety, significantly improving project timelines and minimising risks. Liv. by Emirates NBD – Redefining Banking with AI-Driven Personalisation Liv., the digital banking arm of Emirates NBD, is tailored to a generation that expects more than traditional banking—it expects personalisation, speed, and simplicity. Powered by artificial intelligence, Liv. delivers a banking experience that adapts to each customer's unique financial habits. The app uses machine learning to track and interpret spending behaviour, then generates customized budget breakdowns, financial insights, and savings suggestions that evolve with the user. AI is also used to deliver instant responses through smart chat assistants, handling customer service queries efficiently and consistently reducing dependency on call centres. Liv. proves how AI isn't just automating financial services but elevating them—by providing each user with a smarter, more intuitive way to manage money, without compromising convenience or control. – Making Multilingual Communication Human Again a fast-rising Dubai startup, is transforming how businesses communicate with international audiences through its cutting-edge AI voice translation platform. What sets it apart is its ability to replicate not only language but tone, pacing, and emotion. The platform uses advanced speech-to-speech AI technology to translate videos into 100+ languages while retaining the speaker's original vocal identity and expression. This has major implications across sectors—brands, media outlets, and educators can now localise content at scale, preserving authenticity without the cost or delay of studio dubbing. solution helps businesses connect globally without sounding generic, making cross-border communication feel personal and real, something essential in today's competitive content economy. Letswork – Using AI to Rethink Productivity and Space Letswork is not your average co-working space provider. It's a smart platform that offers freelancers, startups, and remote teams access to a network of co-working spaces across Dubai—many in unexpected places like hotels and cafés. AI powers much of its behind-the-scenes intelligence. The app learns from user behavior—preferred locations, peak working hours, seating choices—and offers personalized space recommendations accordingly. Venue partners receive detailed analytics powered by AI, helping them optimize layout, pricing, and services based on usage trends and customer feedback. In a city like Dubai, where flexibility and remote work are becoming the norm, Letswork is proving that AI can unlock hidden capacity in real estate and deliver convenience to a new generation of mobile professionals. Dubai's Government Is Accelerating the AI Shift for Businesses Dubai's transformation into an AI-powered business hub isn't happening by chance—it's backed by intentional government policies and infrastructure that actively support innovation. The Dubai Centre for Artificial Intelligence (DCAI) , launched in 2023, is helping integrate AI across 33 government entities, offering a ripple effect that benefits private sector collaboration and tech adoption. , launched in 2023, is helping integrate AI across 33 government entities, offering a ripple effect that benefits private sector collaboration and tech adoption. The Dubai AI Lab , a joint venture between Smart Dubai and IBM, supports companies in deploying AI solutions in logistics, finance, and healthcare, providing testing environments and advisory support. , a joint venture between Smart Dubai and IBM, supports companies in deploying AI solutions in logistics, finance, and healthcare, providing testing environments and advisory support. Initiatives like the UAE National AI Strategy 2031 and Dubai Future Accelerators are opening doors for startups and corporates alike to co-create future-ready solutions, often with access to funding, mentorship, and pilot opportunities within the city's ecosystem. For businesses, this means a smoother path to AI integration—with fewer bureaucratic barriers, a culture that welcomes experimentation, and a government that leads by example. Businesses in Dubai are adopting AI not as a trend but as a strategic asset to speed up operations, cut costs, and better understand their customers. It's a business-first transformation with tech as the driver. And this shift isn't limited to tech giants or government-linked ventures. It's reaching startups, SMEs, logistics firms, banks, and retailers, transforming how businesses operate, make decisions, and deliver value. The early adopters are already gaining a competitive edge, proving that AI is not just a tool, but a mindset. For any business operating in Dubai today, embracing automation and AI is quickly becoming less of a differentiator and more of a necessity. The question is no longer if, but how well and how soon you'll adapt. Also Read: AI & Robotics in Dubai: Future Innovations & Tech Trends 2025 Learn how AI and robotics are revolutionizing Dubai's technology landscape with futuristic innovations, smart automation, and AI-powered solutions. How AI & Automation are Changing the Job Market in the UAE Discover how AI and automation are transforming the UAE's job market. From evolving industries to new career opportunities, explore how professionals can adapt and thrive in an AI-driven world. Dubai Emerges as a Rising Global Hub for Artificial Intelligence Dubai is solidifying its position as a global hub for artificial intelligence (AI), driven by innovative projects, cutting-edge technology companies, and strategic public-private collaborations. AI Set to Become Even More Dominant in 2025 Within just three trading days of 2025, shares of major tech companies NVIDIA, Arm, and TSMC have already been observed to rise by 11%, 19%, and 11%, respectively.
Khaleej Times
14-04-2025
- Business
- Khaleej Times
AI and Fintech: How Smart Algorithms are Redefining Financial Services
The fintech industry has emerged as one of the fastest-growing sectors in the global economy, powered by cutting-edge technology and digital-first solutions. At the heart of this transformation lies Artificial Intelligence (AI) — a technology that is not only enhancing the way financial services operate but also redefining the relationship between businesses and consumers. The numbers speak for themselves. Today, the global fintech market is valued at $340.1 billion, and the market value of AI within fintech alone stands at an impressive $44.08 billion. According to Fortune Business Insights and Statista, this figure is expected to rise to $50 billion over the next five years, driven by a compound annual growth rate (CAGR) of 2.9%. This growth is largely fuelled by AI's ability to streamline operations, mitigate risk, and personalise services. In fact, a McKinsey report reveals that approximately 72% of companies already leverage AI in at least one business function, whether it's customer service, security, or financial analysis. The appeal is clear — businesses that adopt AI-driven solutions report marked improvements in efficiency, cost reduction, and customer satisfaction. Smart algorithms and machine learning models are now deeply embedded in fintech offerings such as digital wallets, online banks, investing platforms, and personal finance apps. By leveraging AI, companies can streamline financial processes, enhance business partnerships, and make smarter, faster decisions based on real-time data. AI-Driven Fintech Innovation The UAE has positioned itself at the forefront of AI integration within fintech, strategically leveraging advanced technologies to redefine traditional banking and financial services. As Neeraj Gupta, CEO of observes: 'The UAE is actively integrating AI into fintech solutions to improve banking, payments, fraud detection and financial security.' Financial institutions across the UAE are deploying AI-powered chatbots, robo-advisors, and biometric authentication systems to deliver seamless, personalized customer experiences in digital banking. These AI tools not only enhance user interaction but also streamline internal processes, making financial services more efficient and customer-centric. Crucially, banks in the UAE are harnessing AI to bolster their risk management frameworks. AI-driven systems are enabling real-time fraud detection and risk assessment, ensuring compliance with stringent anti-money laundering regulations. Furthermore, AI plays a pivotal role in optimising payment systems, automating credit scoring, and facilitating secure blockchain-based financial transactions. 'Government-backed initiatives like the UAE's AI Strategy 2031 and the DIFC FinTech Hive are providing a fertile environment for AI-driven innovation to thrive, encouraging fintech startups and established players alike to harness the potential of artificial intelligence,' Gupta adds. Transforming Financial Services The impact of AI-driven automation is most visible in key financial services that once relied heavily on manual intervention. As Gupta highlights, 'With the advancement of technology, AI has transformed the financial market. Loan approvals have become quicker as AI determines credit risk more accurately.' By analysing vast datasets, AI algorithms can assess an applicant's creditworthiness with unprecedented speed and precision, reducing the time taken to approve loans and extending financial inclusion to previously underserved segments. 'Customer service has also undergone a radical transformation, says Gupta. 'Chatbots and virtual assistants, powered by AI, handle routine customer inquiries instantly, eliminating the need for long wait times and improving service quality. In the insurance sector, AI is streamlining the often cumbersome claims process by automating paperwork and expediting claim settlements.' Another critical area witnessing significant improvement is fraud detection. Traditional methods of identifying suspicious transactions often lag behind the speed of fraudulent activities. AI, however, can analyse transaction patterns in real time, flagging anomalies and preventing potential threats before they escalate. This proactive approach has reinforced customer trust and made financial services safer and more reliable. Elevating Customer Experience and Financial Accessibility Fintech platforms are rapidly making financial services more accessible, efficient, and secure — thanks to AI. The integration of AI into financial ecosystems is not only simplifying processes but also empowering customers with tools that once seemed out of reach. 'Fintech firms backed by AI are making financial literacy tools easily accessible,' says Gupta. 'With technology like robo-advisors, the customer can now get personalised financial advice, automatically manage their portfolio, and make the most of budgeting tools. Chatbots are providing instant customer support, answering queries, and guiding users through financial processes, thus improving customer experience.' Beyond convenience, AI is playing a crucial role in strengthening financial security. Gupta emphasises: 'AI-powered fintechs are also enhancing cybersecurity. AI can easily detect and prevent cyber threats, making sure that customer data and financial transactions remain secure.' Sundeep Gantori, Equity Strategist at UBS Global Wealth Management's Chief Investment Office, highlights the broader impact of AI in the fintech space: 'The use of generative AI in fintech customer care has proven to be a remarkable success. Recent corporate filings from industry leaders, including early AI adopters such as Meta and Klarna, indicate significant productivity gains. To measure employee productivity, we compared revenue per employee metrics since the end of 2022, the year generative AI applications like ChatGPT were first introduced. Meta's revenue per employee improved from $1.35 million in 2022 to $2.22 million in 2024 (more than 64% improvement in two years). For Klarna, we see an even stronger improvement from $0.34 million to $0.82 million (more than 140% improvement in two years).' Revolutionising Wealth Management AI's role in wealth management is not exactly new. As Gupta points out, 'AI in wealth management started in the 1990s with simple tasks like data entry. Today, AI analyses huge amounts of data, predicts trends, and automates tasks, helping advisors work faster and smarter.' Over the years, what began as a tool for operational efficiency has evolved into a powerful engine for decision-making. AI is now capable of creating personalised investment strategies, identifying risks before they materialize, and enhancing client engagement through intelligent automation. Gupta highlights the scale of this transformation, stating, 'With AI-managed assets expected to hit $6 trillion by 2027, it's becoming a crucial part of financial services, not just an extra tool.' One of the most promising applications of AI in wealth-tech is real-time portfolio risk monitoring. Sonali Goila, Head of Venture Capital at Aditum, emphasises its potential to redefine the investor experience. 'AI and wealth-tech combined, has the potential to bring about phenomenal transformation in improving accessibility, predictive planning, transparency, automation, and eventually personalisation and sophistication,' she explains. According to Goila, real-time risk monitoring allows AI to 'sift through vast amounts of data and conduct deep research and analysis on how daily news could affect an investor's portfolio, giving him real-time insights to make informed investment decisions.' What makes this advancement particularly powerful is that it democratizes access to sophisticated analysis — something that, in the past, would have required costly engagements with specialist research houses. Beyond investment decisions, AI is also strengthening the backbone of wealth management — security and client service. Goila notes that 'AI's predictive engines for fraud detection, and advanced CRM agents are the other strong use-cases AI is bringing to wealth-tech.' These innovations help institutions detect anomalies faster, preventing fraudulent transactions before they occur, while simultaneously delivering a superior client experience through intelligent, responsive customer relationship management systems. Robo-Advisors vs Traditional Advisors As fintech continues to disrupt financial services, robo-advisors have emerged as a popular choice for investors seeking affordable and automated solutions. But how do they truly stack up against traditional financial advisors when it comes to cost-effectiveness and performance? Robo-advisors have carved a niche in the market, particularly due to their low-cost model. By leveraging automation and algorithm-driven portfolio management, they offer efficient solutions without the hefty fees associated with human advisors. 'Robo-advisors certainly excel in cost effectiveness. Due to their automated portfolio management, they can get the job done at lower costs,' explains Gupta. 'However, while they perform well for passive investing, they lack the personalized planning of traditional advisors.' While robo-advisors are ideal for hands-off investors, traditional advisors bring human insight and customisation to the table — factors that can prove crucial in volatile or complex markets. Gupta points out: 'Traditional advisors can tailor strategies through human expertise, which can drive performance better and prove beneficial for ever-evolving requirements and markets.' Interestingly, the line between robo and human advisors is beginning to blur, thanks to the rapid advancements in AI. Goila highlights how AI is revolutionising the space: 'Current robo-advisory solutions are making investment advisory services available to the masses, attracting customers who previously didn't engage much with human financial advisors,' she says. Goila emphasises the shift from a 'one-size-fits-all' approach toward hyper-personalised portfolios. 'We are seeing a shift towards using AI to create bespoke portfolios based on each user's requirements, risk tolerance, and investment goals. This could make robo-advisory more valuable to investment decisions than it is today, while also solving for the monetization challenges many robo-advisors face currently.' She further adds that startups focusing on AI-driven heuristics tailored to user demands are poised for long-term success. 'As AI continues to evolve, the next phase of AI transformation could involve replacing human analysts with AI analysts for portfolio management. If this is done well, these robo-advisors could replace or even outperform humans in the long term.' Tackling Bias, Privacy, and Security While AI holds immense potential in the fintech space, its adoption doesn't come without concerns — particularly around algorithmic bias, data privacy, and security. Responsible innovation, therefore, remains at the heart of successful fintech applications. Algorithmic bias is one of the key risks associated with AI. To mitigate this, fintech companies are increasingly focusing on data diversity and transparency. 'AI in fintech addresses bias through algorithm audits, diverse data sets, and enhanced transparency,' says Gupta. Regular audits ensure that AI models don't reinforce existing societal biases, while a commitment to diverse data sets ensures more accurate, inclusive outcomes. Data privacy is non-negotiable in an era of hyper-connectivity. Gupta highlights that fintech firms are taking rigorous steps to safeguard sensitive information. 'Data is safeguarded through data minimization, strong encryption, and user consent,' he explains. 'Security challenges are met with strong cybersecurity measures, regular audits, and compliance with regulatory standards. All of this is aimed at nurturing customer trust.' Will AI eventually Replace Human Financial Advisors? As AI continues to revolutionise industries, many have speculated whether it could eventually replace human financial advisors. However, industry experts believe AI is more likely to complement human expertise rather than fully replace it. The future seems to be leaning toward a hybrid model, where AI enhances the efficiency and accessibility of financial services while human advisors remain at the helm, guiding clients with personalized strategies. While AI won't replace financial advisors, it holds immense potential to streamline many routine aspects of financial planning. Gupta explains: 'Tools don't replace humans — they just boost efficiency and performance.' By leveraging AI to gather client data more quickly and accurately, advisors can save both time and resources. This leaves more room for delivering tailored advice that meets the evolving needs of clients. While the efficiency gains from AI are undeniable, the human touch remains essential in financial planning. The ability to craft personalised strategies, assess risk, and adapt to complex and ever-changing market conditions is something that machines simply cannot replicate. Human advisors bring a level of empathy, creativity, and adaptability to the financial decision-making process that AI cannot match. Gupta further emphasises, 'AI is unlikely to replace human financial advisors — it will rather enhance experts' performance. By leveraging AI, humans can actually form a hybrid model and provide tailored and scalable financial solutions.' This hybrid model, where human advisors combine their expertise with AI's capabilities, is poised to become the future of financial services.
