ADGM & MBZUAI unite to advance AI for regulatory compliance

By Shilpa Annie Joseph, Official Reporter
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ADGM-MBZUAI Partnership
Rep. Image | Courtesy: ADGM

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has signed a Memorandum of Understanding (MoU) with Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) in order to advance the role of artificial intelligence (AI) to better achieve regulatory outcomes within the financial services sector.

By combining FSRA’s regulatory knowledge with MBZUAI’s expertise in AI, the partnership aims to develop cutting-edge regulatory technology (regtech) and supervisory technology (suptech) that provide reliable solutions for enhancing regulatory compliance and operational efficiency in the delivery of financial services.

Emmanuel Givanakis-ADGM FSRA
Emmanuel Givanakis

“We are excited to work with MBZUAI’s world-class research faculty in artificial intelligence, to advance FSRA’s thought leadership and capabilities in the field of financial regulation. Through regulatory innovation, we are committed to the vision of Regulation-as-a-Service for the financial community to enhance investor protection and promote the integrity of the financial system. In navigating the transformative potential of AI for regulatory compliance, we recognize that collaboration and open dialogue are critical. As ADGM and MBZUAI move forward with this groundbreaking initiative, we actively invite insights, feedback, and partnership opportunities from the wider financial community. Together, we can build a more secure, efficient, and innovative financial ecosystem.”

According to the statement, “At the core of this collaboration is a multi-step approach focused on training an AI algorithmic model to extract meaning and context from financial regulations and rules. The regulatory information from the AI model can be used by financial services firms to improve or automate their decision-making processes in relation to regulatory compliance.”

By sharing regtech and suptech solutions on FSRA’s Digital Lab, the partnership aims to empower the financial industry with tools and resources to fulfil their regulatory obligations in a more efficient and effective manner.

MBZUAI’s Vice President of Public Affairs and Alumni Relations, Mr. Sultan Al Hajji, said that, “The financial services sector is a pillar of the UAE’s economy and a key enabler of growth and investment across all other sectors. Through this collaboration with ADGM, MBZUAI will tap the unique power of AI to develop, refine, and monitor regulatory processes in the UAE while supporting sustainable innovation and growth in the financial services sector.”

“This collaboration is especially important given the UAE’s position as an emerging hub for fintech. The MoU also enables MBZUAI’s faculty and students to deploy their AI skills and expertise in the specific areas of finance and compliance,” Mr. Al Hajji added.

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