AI to revolutionize Kuwait’s Banking & Finance sectors

Primarily focusing on the transformative role of Artificial Intelligence (AI) in Kuwait’s Energy and Banking & Finance sectors, The AmCham Kuwait successfully hosted the second installment of “The Future of AI” forum.

The event highlighted about the collaboration with Boeing and sponsorship from BDO Kuwait Al Nisf & Partners indicating a strong support system for integrating AI into the local economy. It brought together industry leaders, AI experts, and professionals to explore AI’s potential to reshape two of the country’s most vital sectors.

Aisha Alqabandi, opened the event with her welcoming remarks, which highlighted AI’s capacity to drive innovation, efficiency, and economic growth in Kuwait. She extended her gratitude to Boeing, BDO Kuwait Al Nisf & Partners, and the AmCham Kuwait team for making the event possible.

Similarly, Alaeddine Karim, Chair of the IT/Cyber Security Focus Group at AmCham Kuwait, and the Country General Manager of Microsoft Kuwait, delivered the event’s opening remarks underscoring the significance of AI in Kuwait’s future, and emphasizing how it aligns with the New Kuwait 2035 Vision. Alaeddine further stated that “Kuwait is well-positioned to lead AI integration, and with the right approach, we can set a global standard for innovation”.

The keynote speaker, Abdulwahhab Alzaidan, Senior Project Manager at the Youth Public Authority, discussed the Kuwait Digital Startup Campus—a pioneering collaboration with Boeing and KDIPA, which aimed at empowering local entrepreneurs and fostering Kuwait’s digital economy. He further shared his vision for supporting Kuwait’s youth through innovation and entrepreneurship.

Addressing the gathering, Hebah Abbas, Chief Specialist Electrical Engineer at the Ministry of Education and Chairwoman of the National Sustainability Committee, shared about the AI’s role in sustainability and education. She emphasized the need for sustainable energy solutions and the importance of nurturing future generations of technologists.

The Banking and Finance panel, which was moderated by Mai AlOwaish of CINET, opened with a presentation on AI’s role as a driver of innovation in the financial sector. She illustrated how AI is being used to predict customer behavior, support credit decisions, and streamline fraud prevention and cyber security.

Further building on these themes, the panel that included Ammar Boumajdad of Mashreq Bank, Hashem Qtaishat of BDO Kuwait, Talib Behbehani of Al Ahli Bank of Kuwait, and Zahra AlMousa of the Capital Markets Authority, explored how AI-driven models are enhancing operational efficiency, improving decision-making, and transforming customer experiences in Kuwait’s financial services.

Moving ahead, in the afternoon session the focus shifted toward the Energy sector, with a presentation by Mohsen AlKazemi of EnerTech Holding, who emphasized Kuwait’s strategic position as a hub for digital infrastructure and the importance of balancing the “energy trilemma”— ensuring energy security, sustainability, and equity.

The panelists that included Dr. Mosab Alrashed from the American International University, Dr. Scott Pezanowski of Brightworld Labs, cyber security expert Dr. Shaheela Banu Abdul Majeed, Amjad Omran of NOV Kuwait, and Dr. Huda Alrashidi from KCST; further discussed how AI is driving advancements in clean energy, improving operational efficiency, and enhancing cyber security in the energy sector.

In the forum’s concluding note, Alaeddine Karim reflected on the day’s discussions, emphasizing that AI is here to stay and will play a crucial role in making us more productive. He highlighted how AI enables us to focus on higher-priority tasks by automating routine processes and driving innovation across sectors. Karim also noted that the event demonstrated AI’s growing influence on the future of finance and energy in Kuwait, with the ongoing dialogue crucial as the country moves toward a more AI-driven economy.

“The Future of AI” AmCham Kuwait’s forum, underscored the growing significance of collaboration and innovation in realizing the full potential of AI across Kuwait’s key industries. The event served as a platform for leaders, experts, and innovators to explore AI’s transformative power and its role in driving sustainable growth for the future of Kuwait.