Alawwal Bank, which is based in the Kingdom of Saudi Arabia, has partnered with leading global tech firm, Reaktor, to train its entire workforce on the potential uses of Artificial Intelligence (AI) in banking.
Through the AI training, Alawwal Bank hopes to lead the Kingdom’s financial services industry in adopting a technology estimated to contribute US$135 billion (12.4%) to Saudi GDP by 2030.
Staff at Alawwal Bank will have access to an online course as well as several workshops developed and led by experts from Reaktor and Helsinki University.
The aim of the training is to provide an overview of the key elements of AI for employees without a professional digital background.
Soren Nikolajsen, Managing Director, Alawwal Bank, said: “The best Digital Transformation strategies start with people – not technology. Innovation will come much easier to an organisation whose staff share a common understanding of how technologies work.
“As few industries handle more data than banks, the opportunities for AI in banking are almost endless. Instead of a few people in our digital or IT teams looking for opportunities to improve our business with AI, we can have an entire workforce doing this – that’s going to give us a huge competitive advantage.”
As well as the managing director taking the course himself, staff across all departments of the bank are being encouraged to take the course.
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