DUBAI, UAE, Aug 13, 2024 - (ACN Newswire) - Al Fardan Exchange is pleased to announce its partnership with the Dubai AI & Web3 Festival 2024, following the signing of a Memorandum of Understanding (MoU) between both parties. This collaboration is set to drive forward AI integration within the financial sector and underscores our commitment to supporting the UAE’s vision for a digitally advanced financial landscape.

Hasan Fardan Al Fardan, Chief Executive Officer of Al Fardan Exchange and a member of the festival’s advisory committee, highlighted the transformative impact of this partnership. He called the collaboration with the Dubai AI & Web3 Festival 2024 a pivotal opportunity to drive AI advancements in the financial sector. In his role on the advisory committee, Hasan Fardan Al Fardan is dedicated to championing the UAE’s ambition to become a global leader in digital finance. This partnership reflects Al Fardan Exchange’s commitment to shaping a future where AI enhances both financial services and customer experiences.

AI has the potential to revolutionise customer interactions within the financial sector. Recent studies highlight that businesses adopting AI in customer service report a 40% reduction in response times and a 38% increase in customer satisfaction. According to McKinsey, financial institutions implementing AI can see a 20% increase in operational efficiency and a 10-15% reduction in costs. Al Fardan Exchange is committed to utilising AI to provide these enhanced experiences, ensuring every customer interaction is seamless and effective.

Additionally, AI plays a pivotal role in advancing financial inclusion, making financial services accessible to a wider audience. The World Bank estimates that AI-driven solutions could bring financial services to over 1.7 billion unbanked individuals globally, bridging this gap and providing essential financial services to underserved populations. This initiative aligns with Al Fardan Exchange's mission to foster global financial inclusion.

“Our partnership with the Dubai AI and Web3 Festival 2024 is aimed at advancing AI integration within the financial sector. As a member of the advisory committee, I am committed to supporting the UAE’s vision of a digitally advanced financial landscape,” said Hasan Fardan Al Fardan. He continued, “AI holds significant promise in enriching customer experiences, advancing financial inclusion, and strengthening the financial ecosystem. This partnership reaffirms our commitment at Al Fardan Exchange to deliver technology-driven financial solutions whilst ensuring an effortless customer journey.”

About Dubai AI & Web3 Festival

Dubai AI & Web3 Festival, organised by the Dubai AI Campus in strategic partnership with DIFC and the Minister of State for Artificial Intelligence, Digital Economy & Remote Work Applications Office, is a premier event cementing Dubai’s role as a pioneer in the global digital economy.

This dynamic platform brings together the brightest minds to explore and expand the commercial possibilities of AI and Web3 technologies. Attendees will experience state-of-the-art integrations of artificial intelligence, blockchain, XR, and decentralised systems, driving the progression of digital economies and technological innovation. Join us to engage with the future of technology at the Dubai AI & Web3 Festival.

About Al Fardan Exchange

Al Fardan Exchange is a leading financial services provider in the UAE, offering a wide range of services including currency exchange, money transfers, and remittance solutions. Established with a strong commitment to customer satisfaction, Al Fardan Exchange combines tradition with innovation to deliver secure, efficient, and reliable financial services across the region. With a reputation built on trust and integrity, it continues to play a pivotal role in connecting individuals and businesses to the global financial network.

For more information, please contact:
Shadi Dawi
Director, Public Relations & Partnerships – Global & MEA
Trescon Global
Mobile: +971 55 498 4989
shadi@tresconglobal.com

Topic: Press release summary
Source: trescon
Sectors: Trade Shows, Blockchain Technology, Artificial Intel [AI]
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