11-07-2025
UAE Ministry of Finance Wins AI Impact Award in Geneva
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The UAE Ministry of Finance has won the Innovating for Impact Award at the AI for Good Summit 2025. The award was given in the category of AI applications in the financial sector.
The event took place at the Geneva International Conference Centre (CICG). It was organised by the International Telecommunication Union (ITU) in collaboration with several United Nations agencies.
The Ministry was recognised for its efforts in applying artificial intelligence across various financial functions. These include fraud detection, risk assessment, algorithmic trading, and customer service. Officials stated that these initiatives have improved system efficiency and supported sustainable development goals.
Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, announced that the award reflects the UAE's progress in integrating AI into government operations. He added that these efforts have helped boost efficiency and global competitiveness in the financial sector.
Al Hussaini revealed that the Ministry follows an institutional innovation approach. It focuses on digital transformation and operates on a flexible technical infrastructure. This supports risk management, operational efficiency, and transparency in public financial resources.
He emphasized that the recognition will encourage teams to continue building a data-driven, balanced financial system aligned with the UAE's 50-year vision.
Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, said the award affirms the UAE's leadership in artificial intelligence. He highlighted innovation as a key to driving efficiency and transparency in government financial management.
He added that the Ministry has launched initiatives powered by predictive analytics. These include a smart budget management system that monitors economic indicators in real time.
Key highlights: UAE honoured for AI use in finance at UN's AI for Good Summit
Recognised for AI-based fraud detection, trading, and budgeting
Ministry aims to promote innovation and international partnerships
The AI for Good Summit is the official UN platform for AI. It is organised by the ITU with support from 47 UN agencies and the Swiss Government. The summit explores AI's global impact and supports knowledge exchange to address development challenges.
