The Gulf Cooperation Council (GCC) banking sector is undergoing a significant transformation as artificial intelligence (AI) reshapes traditional workflows, automating routine tasks while creating demand for tech-driven expertise. While the rapid adoption of AI is raising concerns about job displacement, industry leaders emphasize its potential to boost productivity, enhance customer experience, and drive economic diversification.
UAE Leads AI Integration in Banking
The United Arab Emirates (UAE) is at the forefront of AI adoption in banking, with its goal of achieving a 90% cashless economy by 2026 accelerating digital transformation. Digital wallets like Aani and neobanks such as Wio and Yap now dominate the financial landscape, with 50% of UAE customers using digital-only services. Wio, for example, captures one-third of new small and medium-sized enterprise (SME) accounts by leveraging AI-powered real-time financial analytics.
However, as AI automates customer service, compliance, and back-office operations, concerns over job losses persist. A PwC report estimates that 55% of banking roles in the GCC could be automated within the next decade. AI-powered chatbots at RAKBANK already resolve 85% of routine customer inquiries, while Emirates NBD’s use of machine learning has cut loan approval times by 70%.
Reskilling and Workforce Adaptation
To address these changes, the UAE is investing heavily in reskilling initiatives. Emirates NBD’s digital training program, backed by CEO Shayne Nelson, aims to equip employees with AI management and data literacy skills. Additionally, the government has allocated $135 million to AI education programs, including collaborations with Mohamed bin Zayed University of Artificial Intelligence.
“Our goal is adaptation, not displacement,” says UAE AI Minister Omar Sultan Al Olama.
Industry experts agree that AI will redefine jobs rather than eliminate them. “AI won’t replace jobs but transform them,” says Mira Nasser, a UAE-based learning and development specialist. “Administrative roles will shrink, freeing professionals for strategic work.”
Global AI Trends Reflect GCC’s Shift
The AI-driven shift in banking is not unique to the GCC. Goldman Sachs recently deployed its ‘GS AI Assistant’ to automate tasks such as email summarization and document proofreading for 10,000 employees. Bloomberg Intelligence predicts that 200,000 banking jobs worldwide could disappear by 2030, with repetitive tasks most at risk.
Despite concerns, the World Economic Forum forecasts AI will create 97 million jobs globally by 2025, particularly in AI training, cybersecurity, and ethical governance—areas the UAE is prioritizing.
Economic Impact and Future Outlook
AI’s integration is set to boost banking productivity by 40% by 2030, according to McKinsey & Company. In the Middle East, AI-driven open banking and financial analytics are expected to contribute $320 billion to the region’s economy, with the UAE accounting for $96 billion of this growth. Saudi Arabia also anticipates AI contributing 12% of its GDP by 2030.
However, ethical and security challenges remain. The International Monetary Fund (IMF) warns that 40% of global jobs face disruption, while AI bias and cybersecurity risks could undermine public trust. “AI adoption must be responsible. Regional collaboration on regulation is critical,” urges Dr. Ayman El-Sherbiny of the UN’s Economic and Social Commission for West Asia.
The Human Element in AI-Driven Banking
Despite AI’s growing presence, human skills remain indispensable. “AI lacks emotional intelligence and creativity—cornerstones of client relationships and innovation,” says Abu Dhabi HR strategist Shamma Hazza. As AI takes over technical tasks, demand is rising for ‘AI translators’—professionals who bridge the gap between technology and business strategy.
The GCC banking sector stands at a crossroads. As institutions like Emirates NBD and Wio Bank embrace AI-driven transformation, the next few years will determine industry leaders. “2025 will separate winners from observers,” says Suvo Sarkar, CEO of Dubai-based 3D Advisory. “The future belongs to those merging human ingenuity with AI’s precision.”
