Zemen Bank announced that it will work closely with the Ethiopian Artificial Intelligence Institute to further modernize its operations. The announcement was made during a working visit by the bank’s senior executives to the Institute, where both institutions held their first round of discussions on potential collaboration in applying artificial intelligence technologies within the financial sector.
The meeting, which took place at the Institute’s headquarter, focused on identifying areas where the two institutions could collaborate in the financial industry through AI-powered solutions. During the discussion, the Institute provided Zemen Bank executives with detailed presentations on various systems it has developed using artificial intelligence.
In addition, the bank’s officials toured several facilities within the Institute, including the robotics workshop, product demonstration center, and the artificial intelligence startup incubation hub.
Speaking during the visit, Ato Asrat Tadesse, Chief Retail Banking Officer of Zemen Bank, stated that the Institute is undertaking promising and innovative initiatives. He noted that the bank plans to work closely with the Institute in the future to further modernize its operations through technology.
Ato Asrat also emphasized that the visit allowed the bank’s leadership to observe startup companies hosted by the Institute that are developing practical, problem-solving technological innovations capable of being implemented across various sectors.
On his part, Dr. Taye Girma, Deputy Director General of the Ethiopian Artificial Intelligence Institute, explained the Institute’s ongoing efforts to locally develop artificial intelligence solutions for different sectors. He further confirmed the Institute’s strong interest and readiness to collaborate closely with the bank in supporting the modernization of Ethiopia’s financial sector through advanced technology.
