Banks can't afford to fall behind on AI. But can they afford for it to fail?

Banks are investing heavily in artificial intelligence and digital technologies to keep pace with rapidly evolving customer expectations and growing competition from tech-driven banks. However, the increasing reliance on complex digital infrastructure leaves them vulnerable to disruptions, cyberattacks, and geopolitical risks. In recent months, a series of outages and cyber incidents have exposed the precarious balance between innovation and resilience in the UAE banking sector.

From a regional cloud service provider being targeted by Iranian attacks to an intermittent outage at a major UAE lender, the consequences of technology failures have become all too apparent. As Pedro Cardoso, group chief digital officer at Abu Dhabi Commercial Bank, put it, "Trust is the ultimate currency in banking," and the industry must ensure that innovation and customer experience progress hand in hand with robust risk management strategies.