Ministry of Finance launches digital transformation initiatives using metaverse and AI solutions #Dubai - Dubai City Guide
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Ministry of Finance launches digital transformation initiatives using metaverse and AI solutions
(22 October 2023)


The Ministry of Finance concluded its participation in GITEX Technology Week 2023, in which it showcased its leadership in digital transformation and artificial intelligence, providing metaverse solutions for government entities and facilitating client journeys towards a more inclusive future. The Ministry also showcased its digital systems, projects, smart and innovative initiatives in the financial field.

H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, emphasised that the Ministry is keen on developing advanced financial solutions that catalyze the growth of various sectors within a secure environment, thereby enhancing the UAE’s status as a top-tier economic and financial destination. He said, “The Ministry adopts a proactive approach to provide advanced financial solutions that support various sectors, especially the digital economy and advanced financial technologies.”

At GITEX, the Ministry showcased a range of systems, projects, artificial intelligence initiatives, digital services, the generative artificial intelligence platform ChatGPT – Ministry of Finance, the digital procurement platform, Ministry of Finance Metaverse, the federal asset tracking systems in the metaverse, the suggestion platform, the violation reporting service, supplier registration in the federal supplier registry, in addition to the public revenue collection and public funds services.

The Ministry organised a panel session titled ‘Ministry of Finance Initiatives in the Field of Artificial Intelligence’, presented by Meshal bin Hussain, Director of Information Technology at the Ministry of Finance. During the session, he introduced the Ministry of Finance Metaverse through a prototype of the digital procurement platform. This platform allowed the public to explore products and services to facilitate the digitally enhanced journey of stakeholders. The presentation showcased how the platform improves communication with government clients through features such as ‘Hessa’ – a smart digital assistant (chatbot) that can guide users in completing specific tasks or provide information and other assistance to enhance the user experience through voice or written commands. There was also the step-by-step digital guide, a new feature implemented in the digital procurement platform that guides the user step-by-step on how to carry out purchasing procedures.

The Federal Asset Tracking System was also reviewed using the Metaverse technology. This system was launched due to the Ministry of Finance’s commitment to accurately enumerate and record all federal government assets in financial statements. The system aims to provide a comprehensive overview of all movable and immovable federal government assets, displaying the size and value of the assets on the ground. The system has been implemented at the federal government level in 24 entities, including the Ministry of Finance. The system is integrated with federal systems, from the federal procurement system to the federal financial system. It also automates the asset management process, from registration and transfer to inventory and more.

Another initiative is Chat GPT – Ministry of Finance. This generative artificial intelligence platform was showcased to the public through a prototype chatbot. The platform allows government stakeholders to explore virtual applications of physical spaces, interact with realistic simulations, and collaborate with others in a virtual environment using features such as meetings, training simulations, and tours of government facilities. Its goal is to revolutionise customer service and empower the Ministry to provide practical support for its clients, leveraging AI technologies to enhance service delivery, engage citizens, and meet the needs of the digital age.

The Ministry also organised a session titled ‘Services 2.0’, presented by Fatima Alnaqbi, Acting Assistant Under-Secretary for Support Services Sector at the Ministry of Finance. The opening speech addressed the efforts of the Ministry of Finance in developing digital services and adopting the latest technologies, systems, and applications as part of the Ministry’s digital transformation journey. This includes the recent use of generative artificial intelligence in several of its initiatives and systems. The session highlighted the UAE government’s vision in developing a new approach to designing government services, focusing on the experience of stakeholders through innovative and efficient means to facilitate their journey. This aims to provide them with simplified, effective, and quick services, prioritising a positive impact on stakeholders and the broader community, in line with national efforts to make government services in the UAE the best globally.

The session focused on the Ministry of Finance’s experience enhancing its services through this proactive approach. The Ministry identified three priority services and tested them as part of the comprehensive service transformation team’s efforts, Services 2.0. These services are registration in the Federal Supplier Register, advisory support in accounting systems, and responding to stakeholder inquiries.

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