The Arab Monetary Fund (AMF) has recognised the importance of expanding educational awareness of the implications of using Artificial Intelligence (AI) in banking services. 

 

Releasing the Twenty-Fourth Edition of the Introductory Booklet on ‘Using Artificial Intelligence in Banking Services’, AMF sheds light on the impact of using AI and machine learning on developing and increasing the levels of efficiency of financial services. 

 

In addition technology aids lower operational cost and help in detecting and preventing fraudulent financial activities.

 

Within its Strategy (2020-2025), the AMF seeks to strengthen the cooperation and communication with all concerned official parties in the Arab countries aiming to achieve the objectives for which it was established and boost the economic knowledge. 

 

Amidst the challenges facing the new generation in a rapidly changing environment that shapes the future of nations and societies, the AMF saw the importance of publishing a series of introductory booklets to boost the economic and financial awareness among the young generation and empower them to understand the fundamentals of various related topics. 

 

The new series targets the young generation in Arab Countries to help them understand the fundamentals and various related aspects such as financial inclusion, basics of funding, financial technologies, artificial intelligence, digital currencies, and much more. 

 

Through these issues, AMF hopes to strengthen the role of Arab youth in dealing with diverse topics and to have the knowledge that enables them to contribute effectively to accomplish the future vision for Arab countries.  

 

These activities are part of the efforts aiming to achieve the AMF 2040 vision to be the closest partner of the Arab countries in their interaction with recent developments to enhance the economic, financial, monetary stability of the Arab states.-- TradeArabia News Service