Commercial Bank of Dubai taps PwC for adoption of AI technologies

The Commercial Bank of Dubai has selected PwC as its partner for the adoption of AI technologies across the organisation.

Announced last week, the partnership between the UAE’s 7th largest bank and the global professional services firm comes at a time of massive interest for artificial intelligence (AI) and its possible applications in business.

In the banking scene, AI can add value to both customer-facing operations (such as customer experience, customer service, and product personalisation) as well as the back-office (streamlining processes), while lifting the quality and speed of decision-making through enhanced information management.

A firm advocate of the power of AI, the Commercial Bank of Dubai (asset base: $31.6 billion as of December 2022) has earmarked AI as a key pillar of its broader digital strategy. “We are committed to delivering unparalleled customer experiences and driving operational excellence through the integration of AI technologies,” said Ali Imran, Chief Operations Officer at the Commercial Bank of Dubai.

Working with PwC, the bank expects to deliver tangible results including “improved customer satisfaction”, a “more personalized banking experience”, and “more efficient operations”. All in all, the planned advancement will “reinforce our position as a leading bank in the region,” said Imran.

For PwC, the win comes within a year of striking an alliance with Abu Dhabi-based AI and cloud company G42, and hot on the heels of the firm being named a global leader in AI consulting services by renowned analyst group IDC.

Commenting on the project, Ali Hosseini, Chief Digital Officer at PwC said: “We are joining forces with the Commercial Bank of Dubai to embed artificial intelligence deep within the bank. This partnership highlights our dedication to shaping change and assisting clients with their transformation journey towards an AI-driven future.”

The latest deal continues a longstanding working relationship between the two companies. Years ago, the pair worked together in the innovation domain, and more recently PwC also supported the roll-out of a digital transformation program.