Dubai – Mubasher: Emirates NBD has transformed its focus on harnessing the power of artificial intelligence (AI) to enhance productivity across various business functions supported by Microsoft.

In a press release, the DFM-listed bank highlighted that this move aims to unlock new opportunities for innovation, efficiency, and customer experience within the banking industry.

The transformation includes three key initiatives that will drive significant advancements in software development, collaboration, and customer engagement.

Backed by Microsoft, the bank’s information technology (IT) teams will leverage the advanced capabilities of Github Copilot X, an enhanced generative AI tool developed by Microsoft.

With the help of this tool, Emirates NBD expects to witness a remarkable boost in coding proficiency, software development speed, and quality.

Emirates NBD will also have access to the preview of Microsoft 365 Copilot, which will allow its employees to foster their productivity by automating repetitive tasks, generating content, and assisting with complex decision-making processes.

Furthermore, Emirates NBD will be deploying ChatGPT across all business and support functions, including its contact centres, marketing, legal, compliance, and risk departments.

Abdulla Qassem, Group COO of Emirates NBD, stated: "By leveraging the power of generative AI, we aim to transform our business operations, elevate our customer experience, and stay at the forefront of technological innovation, further reinforcing our position as a leader in digital innovation.”

“This collaboration is a testament to Emirates NBD’s commitment to embracing cutting-edge technologies and pushing boundaries to deliver excellence,” Qassem added.

In the first quarter (Q1) of 2023, the UAE lender registered AED 6 billion in net profit, higher by 119% year-on-year (YoY) than AED 2.70 billion.