Artificial Intelligence and Women Empowerment in Bahrain

Abstract

AbstractBahrain has witnessed many key developments in several sectors. The role of the national drive has contributed to economic diversification and financial thrive. Bahrain considers itself a getaway to the entire world due to its strategic location and ideal environment that attracts many startups and business entities. Recently, the government of Bahrain exhibits an outstanding potential in Artificial Intelligence (AI) and started to tap into the digital transformation era due to the Fourth Industrial Revolution (4th IR). To be aligned with the Bahrain Economic Vision 2030, the financial sector regulated by the Bahrain Central Bank (CBB) implemented several financial solutions based on innovation in technology to increase the customer experience and satisfaction which ultimately brings economic fruitful results. Moreover, Bahrain becomes the second world hub for Islamic Finance services after Malaysia with more than 25 Islamic Finance organizations. Furthermore, it undertakes major milestone to adapt the concept of artificial intelligence in the financial and banking sector and has created a competitive regional presence in Financial Technology (FinTech). This research aims to briefly define the notion of artificial intelligence (AI) and highlight Bahrain's achievements in the same field during the Fourth Industrial Revolution and how the artificial intelligence contributes to a rapid development even though it is still in its early phases. Beside this, the research presents the women empowerment in Bahrain and their active participation in all arenas particularly in the financial sector with exceptional lead in innovation. One of the advanced technologies arises in Bahrain is the (Fintech) which promotes the financial services to a superior level. Therefore, artificial intelligence investments require certain set of knowledge and skills to be obtained by the workforce that led to excellent conclusions. Based on the academic perceptions, the main probable challenges of AI are addressed. A set of recommendations are proposed to overcome the uncertainty and accomplish the planned vision 2030.KeywordsArtificial intelligenceFourth industrial revolutionDigital transformationWomen empowerment in BahrainBahrain economyFinTech21st century skillsSTEM