{
  "id": 3177034,
  "title": "Banks can't afford to fall behind on AI. But can they afford for it to fail?",
  "url": "https://urgent.news/2026/08/25/banks-cant-afford-to-fall-behind-on-ai-but-can-they-afford-for-it-to-3177034",
  "topic": "ai",
  "section": "AI",
  "published": "2026-08-25T03:00:00.000Z",
  "source": {
    "name": "The National Business",
    "slug": "the-national-business",
    "url": "https://www.thenationalnews.com/business/banking/2026/08/25/banks-cant-afford-to-fall-behind-on-ai-but-can-they-afford-for-it-to-fail/"
  },
  "original_language": "en",
  "account": "Banks worldwide are investing heavily in artificial intelligence (AI) and digital technology to enhance their services and stay competitive. However, the growing reliance on technology comes with risks, particularly when systems fail or are targeted by cyberattacks. Recent incidents in the UAE have highlighted the potential consequences of digital disruption. Iranian attacks disrupted Amazon Web Services (AWS) facilities in the UAE, while a region-wide IT breakdown affected online and phone banking services at several lenders. The Abu Dhabi Commercial Bank (ADCB) experienced intermittent digital outages that lasted about a week. These events underscore the dilemma facing banks in the UAE and globally: while digitalization and AI are essential for meeting customer expectations, they also create new dependencies that must be protected against disruption, cyberattacks, and geopolitical shocks. Pedro Cardoso, group chief digital officer at ADCB, emphasized that \"trust is the ultimate currency\" in banking and that the industry must ensure innovation, resilience, and customer experience advance together. To remain competitive, banks are accelerating their investment in technology. UAE lenders are transforming their operating models to \"digital-first\" propositions, prioritizing infrastructure, cyber security, and cloud capabilities. While top-tier banks are investing substantially in digitalization programs and AI integration, mid-tier banks like National Bank of Fujairah are also committing significant funds to become \"digital-first banks with a human touch.\" Despite the importance of digitalization, banks must remain vigilant about the risks associated with their growing dependence on technology.",
  "summary": "Banks are racing to put artificial intelligence and digital technology at the heart of everything from payments to customer service. But the deeper technology becomes embedded in banking, the greater the consequences when it fails. Recent disruptions have brought that risk into sharper focus. Iranian attacks during the war struck Amazon Web Services facilities in the UAE, while a region-wide IT…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The National UAE",
        "title": "Banks can't afford to fall behind on AI. But can they afford for it to fail?",
        "url": "https://urgent.news/2026/08/25/banks-cant-afford-to-fall-behind-on-ai-but-can-they-afford-for-it-to",
        "published": "2026-08-25T03:00:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}