Issue Migrating banks off AI-incompatible legacy systems

Summary

Many banks run on legacy systems that cannot work with AI, so adopting it requires both infrastructure investment and cultural change. Dubai Future Foundation suggests incremental, agile approaches with security-first design, using pilot projects to move the transformation forward. Once AI is integrated, banks can monitor transactions in real time, detect fraud immediately and automate know-your-customer checks and onboarding. Generative AI can also produce financial case summaries that support decision-making. Legacy platforms, by contrast, are slow and inflexible, lack application programming interfaces and real-time data, often trap information in silos and raise data quality concerns.