GCC Banking’s New Techno-Frontier | Global Finance Magazine

Generative AI could help the Gulf’s traditional banks wrest the competitive advantage back from challenger and neobanks.

While artificial intelligence was already promising profound changes in the traditional banking business model, the latest innovation in the technology—generative AI—portends a multisensory revolution in banking services. Indeed, GenAI, with its ability to collect and interpret financial data on a vast scale, could force some of the Arabian Gulf region’s biggest banks to rethink their already costly digital banking strategies.

GenAI’s insatiable appetite for data offers banks in the Gulf Cooperation…