AI at the top end — how Saudi Arabia’s financial sector is redefining premium services
RIYADH: Artificial intelligence is rapidly reshaping Saudi Arabia’s financial services sector, enabling more personalized client experiences, improving operational efficiency and expanding access to wealth management and banking services.
The Kingdom’s AI market is projected to grow from $9.3 billion in 2025 to $102.8 billion by 2033, according to Grand View Research, driven by investments in digital transformation and financial innovation under Vision 2030.
According to Jad Zerouali, senior partner at Bain & Co., and head of financial services practice, Middle East, AI is expected to transform premium financial services in Saudi Arabia by enabling always-on, personalized client experiences.
“Local banks, if they seize the transformation opportunity soon enough, will have the ability to compete more effectively with larger international banks with more installed infrastructure and history,” Zerouali told Arab News, adding: “And it can also be an opportunity for new and nimble players to gain competitive advantage. AI will be a once in a lifetime chance for innovative players to gain market share, fast.”
