ABU
DHABI, UAE, June 17,
2024 /PRNewswire/ -- 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.
"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 unlimited 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."
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.
About Add Value Machine:
AVM is a leading Generative AI security company that provides
360-degree observability, enabling enterprises to monitor all of
the Generative AI usage no matter where it happens. The accelerated
use of generative AI at large corporations has also accelerated
customer data leakage and presents new challenges for companies
looking to maintain security compliance. At AVM, we believe that
the accelerated adoption of Generative AI needs the strict adoption
of advanced security protocols.
Contact:
Julie Kehoe
juliekehoepr@gmail.com
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SOURCE Add Value Machine