The Impact of Artificial Intelligence on Employment in Financial Sector of United Arab Emirates

Abstract

With the global advancement of AI, its influence on employment has grown more apparent in nearly all sectors, including the financial sector worldwide. The financial sector in the UAE has experienced substantial changes in job duties and labor requirements, which align with global patterns. This study explores the role of Artificial Intelligence (AI) on employment in financial sector of United Arab Emirates (UAE). The study employed regression analysis to examine AI and employment together with technical variables like Automation, Robotics, and Drones. This study employed a meticulous selection technique to choose 319 experts working in the banking, insurance, and financial sectors from the main emirates of the UAE. Automation, artificial intelligence, and robotics all have negative beta values, implying they could reduce employment, but only AI is statistically relevant. A significance level below 0.05 and a beta value of 0.074 support AI's negative impact on employment. Due to its positive beta value and statistical insignificance, drones' impact on employment is refuted by the study. Originality consists in the combination of a targeted research question, personalized technique, and contextual relevance, which advances technology and employment dynamics in the UAE's financial sector.