Add Value Machine, ADCB, and AWS Host UAE’s First Generative AI Banking Hackathon

Add Value Machine, ADCB, and AWS Host UAE's First Generative AI Banking Hackathon

Add Value Machine (AVM), a leading provider of secure generative AI platforms, and Abu Dhabi Commercial Bank (ADCB), one of the largest banks in the UAE, have successfully concluded the groundbreaking ADCB Generative AI Hackathon. The event, which took place in Abu Dhabi, marked the first time a UAE bank has conducted a hackathon focused on exploring the potential of generative AI in the banking sector.

AiThority.com Latest News: Wipro Launches On-Premise GenAI Solution with Hewlett Packard Enterprise

“We are thrilled to have partnered with ADCB and AWS to host this groundbreaking hackathon,” said John Shaw, CEO of Add Value Machine. “Our secure generative AI platform has enabled ADCB to explore innovative solutions that can drive meaningful business impact across the bank. This event showcases the immense potential of generative AI in the banking sector, and we look forward to working with ADCB to bring the most impactful use cases into production.”

The hackathon brought together nearly 120 participants from ADCB, AVM and Amazon Web Services (AWS) collaborated to structure the event around key business outcomes, focusing on the most relevant ROI generative AI use cases in procurement, engineering, retail banking, and treasury.

Sean Langton, ADCB’s CIO, reflected on the event’s success, stating, “Generative AI is the perfect technology for a hackathon it has opportunity to improve our business and customer experience but also presents emerging risks we need to be mindful of. Thanks to our partnerships with Added Value Machine and AWS, we’ve been able to build several AI ‘bots’ in a safe way in just a day. I can’t wait to see the first of these up and running in production in the coming days.”

AiThority.com Latest News: Veritone Announces Appointment of Michael Keithley to Board of Directors

All use cases developed during the hackathon were built on AVM’s observability, governance and compliance generative AI platform. AVM and AWS are now working closely with ADCB to accelerate the most impactful use cases into production, ensuring that the bank can quickly realize the benefits of generative AI technology.

Ravi Singh, President and CTO of Add Value Machine, expressed his enthusiasm for the collaboration, stating, “It’s inspiring to witness the passion and unity of purpose at ADCB. The combination of visionary leadership and technical expertise has resulted in a thoughtful, measured approach to generative AI adoption. We are proud to be part of this transformative journey.”

ADCB plans to conduct regular hackathons to foster a culture of innovation and explore new applications of generative AI technology across its business operations.

Read More: Blockchain for Good Alliance and Bybit Web3 Join SocialPlus Hackathon to Empower Builders

[To share your insights with us as part of editorial or sponsored content, please write to [email protected] ]

The post Add Value Machine, ADCB, and AWS Host UAE’s First Generative AI Banking Hackathon appeared first on AiThority.

Close
Your custom text © Copyright 2024. All rights reserved.
Close