House of Consultation signs a memorandum of understanding with the Innovation Center for Artificial Intelligence

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Bait Al Mashura Financial Consultancy, represented by its technical arm “BM Fintech” and the Center for Innovation in Artificial Intelligence (CEAI) of “MyFinB” company, signed a memorandum of understanding aimed at promoting artificial intelligence initiatives and meeting the needs of financial institutions, banks, professional services companies, universities, government agencies, non-governmental organizations and organizations. charities, regulators and SMEs in AI and other emerging technologies.
Professor Muhammad Nazri, Founder and Chairman of the Board of Directors of the Innovation Center for Global Artificial Intelligence, said: The Center for Innovation in Artificial Intelligence (CEAI) is a leading institution in the field of artificial intelligence that works in research and development, and has extensive experience in the field of artificial intelligence and machine learning, which is an addition to the partnership .
At the same time, BM Fintech, the financial technical arm of Bait Al Mashura for Financial Consultations in Qatar, specializes in promoting financial technology products and services, building capabilities and mobilizing knowledge to advance innovation in the financial sector, and it also represents a distinct addition to this partnership as it offers Its extensive experience in providing financial and management consulting services to its clients.
He explained: The partnership aims to improve access to financial services for individuals and companies in Qatar. By leveraging the power of technology and innovation, the two entities seek to provide a safer and more efficient financial ecosystem within the country and are sure to work together to achieve the common goals of changing the way businesses operate in the digital age.
For his part, a. Dr.. Khaled Ibrahim Al-Sulaiti, Vice Chairman of Bait Al-Mashura for Financial Consultations: “We are very excited about joining forces with MyFinB’s Artificial Intelligence Innovation Center to meet the needs of companies in the field of artificial intelligence and emerging technologies.
He added that the MoU aims to revolutionize the way businesses operate in this digital age and will help us achieve our shared vision and commitment to deliver exceptional results for our clients.
He noted that the partnership will focus on priority areas identified to achieve high-potential growth, such as artificial intelligence. Both parties are dedicated to providing innovative solutions that will revolutionize how businesses operate in the digital age.
He said: The vision of the partnership is also in line with the Qatar National Strategy for Artificial Intelligence, which aims to place Qatar in a leading position internationally in the next industrial revolution in the world with the support of artificial intelligence, with more attention towards finance, health care, oil and gas; The partnership is also in line with the Qatar Central Bank’s financial technology strategy, which supports diversification and innovation in the financial services sector to enable Qatar National Vision 2030.
A confirmed. Dr.. Al-Sulaiti said that one of the main focus areas is the integration of artificial intelligence in risk management and data governance in digital banking services. Where the use of artificial intelligence in these areas can bring great benefits to financial institutions; It reduces the risk of credit default and improves the accuracy of credit risk assessment, helping financial institutions to better manage their data, ensure compliance with regulations and improve overall data quality.
He pointed out that within the framework of the partnership, BM Fintech, which is affiliated with Bait Al Mashura for Financial Consultations and the Innovation Center for Artificial Intelligence (CEAI) of MyFinB, plans to hold a series of awareness sessions, seminars and lectures related to artificial intelligence with the aim of raising public awareness of the potential benefits and risks of artificial intelligence.
These sessions will be open to financial institutions, banks, professional services firms, universities, government agencies, NGOs, philanthropic agencies, regulators, large corporations and SMEs interested in learning more about AI and its applications in the financial sector.
The sessions also aim to promote a better understanding of AI and its capabilities and limitations in order to facilitate the adoption of AI technologies by companies in Qatar.
He continued: In addition to awareness-raising talks, this partnership also seeks to launch the (FRI) pilot program (Future Ready Institutions), which aims to create institutions that have the potential to keep pace with the future in Qatar while enabling financial institutions, banks, professional services firms and other companies to adopt artificial intelligence technologies. The program also provides access to trainings, resources, and expertise to help companies implement AI solutions tailored to their needs. The program also aims to promote a culture of innovation and cooperation among companies in Qatar, and help them maintain their competitiveness in the digital age and achieve their goals of growth and expansion.

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