While banks have made significant progress in leveraging AI in risk management and sales and marketing, the applications of AI are widespread across departments, especially in compliance, where financial institutions are struggling to cope with rising global expectations on combatting AML and CFT. These were the thoughts of Mr. Abhishek Gupta, Managing Director of Sutra Management, in the recently concluded conference titled Middle East Banking AI & Analytics Summit.

He mentioned that digitization journeys have leveraged robotic process automation as a key theme in the last couple of years. Future AI would expand the number of machine learning models and embed that intelligence into smarter processing that leverages robust machine learning models and unstructured data to make those robotic process intelligent, precise, and efficient.

The conference, organized at ‘The Address, Dubai Mall’ was attended by large financial institutions like FAB, DIB, EmiratesNBD. It also saw confluence of major solution providers like Altair, DataIKU, Datarobot, and Thetaray to name a few. Also gracing the occasion were renowned keynote speakers such as Raja Al Mazrouei (Top 100 women in Fintech) and Sonia Wedrychowicz (seasoned banker and McKinsey & Co. partner)

While RAKBANK and Gino George from First Abu Dhabi Bank won the awards for the ‘Best Analytics use case’ and ‘Best Analytics and AI Leader of the year’ respectively, Sutra Management Consultancies received the award for the ‘Most innovative AI service provider’.

About Sutra Management Consultancies – Sutra Management is an analytics-driven advisory firm. Founded in UAE in 2014, Sutra has served over 150+ clients comprising financial institutions, exchange houses, and insurance firms, public sector entities, telecom and utility companies. The company is also a strategic implementation partner to globally recognized analytics solution providers like SAS and DataIKU. The company is headquartered in Dubai and has offices in Indonesia, Canada and India.

Effiya Technologies powered by Sutra Management Consultancies offers these powerful tools and has successfully implemented them in many large financial institutions. Effiya offers a Financial Crime Compliance Suite consisting of Anti-Money Laundering Software, Fraud Detection & Prevention Solution, Transaction Monitoring Software and Data Quality & Governance Solution.

About the conference - Middle East Banking AI & Analytics Summit is the only AI & Analytics Summit in GCC which brings together 300+ senior-level executives & decision-makers from the Banking and Financial Services sector. The summit focused on addressing today’s concerns in adopting futuristic technologies and the opportunity to dissect real case studies, presentations and panel discussions.