From chatbots to automated approvals, AI already plays a role in financial decisions, often without us even noticing. The Central Bank of the UAE has introduced new guidance on how banks and financial institutions should use artificial intelligence and machine learning.
The new rules are meant to make AI in banking safer and more transparent for everyday users. Here’s what that actually means for you:
- You’ll know when you’re dealing with AI instead of a human
- You can ask for a clear explanation if an automated decision affects your loan, credit limit, or access to a product
- You can request a human review instead of accepting a machine’s final decision
- You have access to proper complaint and redress channels if something feels unfair
Behind the scenes, banks now have to build structured systems around how they use artificial intelligence. All systems must operate under meaningful human supervision, especially when decisions significantly affect customers.
Another important part of the update focuses on users data. If banks use it in AI systems, they must follow UAE personal data protection laws.
The UAE recently ranked 3rd globally in AI adoption, showing how strongly artificial intelligence is shaping everything from government services to healthcare and finance. The UAE continues to lead in artificial intelligence adoption, but it’s also drawing lines to protect consumers. Innovation moves forward with accountability, transparency and customer rights built into the process.
