Today, AI is reshaping finance operations across the Middle East region. Artificial intelligence (AI) automation tools and technologies are used to create powerful workflows and enhance decision-making around financial processes. It also allocates additional time for the finance teams, avoids losses by supporting smarter decision making, and fulfils the requirements of banks and other financial businesses.
The World Economic Forum reports that AI automation in the banking sector is predicted to contribute as much as 13.6% to the GCC’s GDP by 2030. If businesses and organisations use AI to its fullest extent, then there is no end to what can be accomplished, and endless opportunities await in the future.
Let’s take a look at the key AI automation tools reshaping finance operations across the Middle East.
Best AI for Finance Operations in the Middle East
AI technologies host a variety of transformations in the Middle East, with such financial advancement getting showcased in Saudi Arabia and the United Arab Emirates. The UAE even appointed a Minister for AI, recognised as the world’s first minister for artificial intelligence.
AI Tools for Financial Planning and Analysis (FP&A)
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Cube
Cube is a popular AI automation tool used for Financial Planning and Analysis (FP&A) in the Middle East. By combining automation with the spreadsheet, this AI tool helps to enhance financial planning, reporting, and analysis.
Key Features:
- You will get real-time data syncing across systems
- Provides Excel and Google Sheets integration
- Scenario planning and version control
- Automated consolidation and variance analysis
Use Case:
Cube AI tool is ideal for mid-market finance teams who want the power of enterprise FP&A tools without abandoning their existing spreadsheet workflows.
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Datarails FP&A Genius
The Datarails FPA&A is an AI-powered FP&A platform used by finance professionals to gain actionable insights. This AI tool helps in transforming spreadsheet data into smart financial narratives and insights.
Key Features:
- Helps in natural language query support (AI Chat)
- Can be used to create Auto-generated financial summaries and narratives
- You can receive real-time data visualisations
- Provides seamless Excel integration
Use Case:
This Datarails FPA&A AI automation tool is best suitable for finance teams looking to automate reporting, deliver insights faster, and communicate financial data clearly to stakeholders.
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Planful Predict
Planful Predict is another AI automation tool used for the process of Financial Planning and Analysis. This AI Automation tool adds machine learning and predictive analytics capabilities to the core Planful FP&A platform. This enables smarter, faster decision-making.
Key Features:
- You can get predictive modelling and forecasting
- You use it for anomaly and outlier detection
- Helps in AI-powered scenario analysis
- Provides seamless integration with Planful workflows
Use Case:
This AI powered tool is perfect for large enterprises or scaling organisations needing robust predictive planning, especially in dynamic environments.
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Vena Insights
Vena Insights is an AI-powered automation tool used for the process of Financial Planning and Analysis. It enhances the Vena platform with advanced analytics, AI-generated insights, and intuitive dashboards for finance and business users.
Key Features:
- It Provides AI-driven data visualisations
- It helps in predictive modelling and forecasting
- Helps get natural language queries
- Used to create interactive dashboards linked to Excel
Use Case:
This AI-powered automation tool is best suited for organisations that heavily rely on Excel but want to upgrade to real-time, AI-enhanced business intelligence and forecasting.
AI Tools for Accounting and Compliance
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Trullion
Trullion is an AI-enabled automation tool for Accounting and Compliance. The Trullion tool utilises AI to automate lease accounting, revenue recognition, and audit preparedness, which ensures compliance with ASC 842, IFRS and other standards.
Key Features:
- It allows AI-powered lease data extraction from PDFs
- It enables Automated compliance workflows
- It allows real-time audit trails with dashboards
- It has easy Integration to ERP systems (e.g. NetSuite, QuickBooks)
Use Case:
Best for companies with multiple leases or complex compliance accounting standards that want audit-ready compliance with minimal manual effort.
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Vic.ai
Vic.ai is an AI automation solution that focuses on Accounting and Compliance. It transforms the accounts payable (AP) process with the help of AI to automate accounting, specifically accounts payable processing, and use invoice intelligence for automated invoices.
Key Features:
- Invoice data extraction without human intervention.
- Autonomous invoice approval workflows.
- Real-time anomaly detection.
- Used for historical benchmarking purposes and audit support.
Use Case:
Vic.ai is perfect for finance teams that want to scale AP operations, eliminate manual invoice handling, and improve accuracy and processing time for transactions.
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HighRadius
HighRadius is an AI-powered automation tool that operates in the areas of Accounting and Compliance. HighRadius obtains AI-enabled automation in order-to-cash and treasury processes, specifically in optimising cash flow and receivables.
Key Features:
- Assists in AI-enabled collection and credit risk assessments
- Allows for cash forecasting using machine learning
- Enables automation of dispute and deductions management
- Provides a dashboard for real-time receivables
Use Case:
This AI-enabled automation tool is best for enterprises focused on automating their AR and collections processes, cash forecasting, working capital and reducing DSO (Days Sales Outstanding).
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Workiva
Workiva is an automation solution powered by AI for Accounting and Compliance. As a connected reporting and compliance platform, Workiva uses AI to improve the efficiency and timeliness of financial reporting, audit management, and ESG compliance.
Key Features:
- Provides Automated data linking across reports
- Helps with document tracking to stay Audit ready
- Facilitates managing Risk and control matrix (RCM)
- Used to automate ESG and SOX compliance
Use Case:
Workiva is the best solution for public companies and large enterprises that are dealing with complex reporting, SOX compliance, or ESG disclosures in multiple departments.
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NetSuite (with AI Enhancements)
NetSuite is an AI-driven automation tool developed primarily for Accounting and Compliance. It is the #1 cloud Enterprise Resource Planning (ERP) and the only one that encompasses features like AI and machine learning to deliver intelligent accounting, automation, compliance tracking and analytics with intelligent reporting.
Key Features:
- AI based categorization of separately identified transactions
- Predictive cash flow and expenses tracking
- Real time document of audit logs
- Global compliance management (multi-GAAP, tax)
Use Case:
This AI tool is embeddable and is designed for growing businesses, and global organizations using a single unified ERP with embedded AI for finance, operations, and compliance.
AI Tools for Market Intelligence & Stock Analysis
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AlphaSense
Market intelligence and a financial search engine using AI. This AI tool is designed to support decision making with a range of insights from public and private sources, like company filings, event transcripts, call transcripts from experts, news articles, trade journals, and equity research.
Key Features
- Natural language search across earnings, filings, and research
- Sentiment analysis and trend detection
- Real-time alerts and insights
Use Case: Analysts, investors, and corporates tracking markets, competitors, and risks.
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Kensho
Kensho is an AI tool for financial analytics and investment research (by S&P Global). This AI automation tool makes data discoverable, useful, and valuable in enabling fact-based decisions. It uses data to research, develop and implement leading AI and machine learning capabilities that drive fact-based, objective decision making
Key Features:
- Event detection and impact analysis (e.g., Fed changes, earnings)
- Macro trend forecasting
- Automated visual analytics
Use Case: Institutional investors needing fast insights on macroeconomic or market-moving events.
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Numerai
Numerai is a crowdsourced hedge fund leveraging AI models built by data scientists. Numerai uses a combination of artificial intelligence, machine learning, blockchain technology, and data science to create financial prediction models.
Key Features:
- Encrypted data modeling competitions
- Meta-model aggregation from top contributors
- AI-based stock portfolio strategies
Use Case: Quants and data scientists contributing to or following AI-driven hedge fund signals.
AI Tools for Document & Workflow Automation
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Nanonets
Nanonets is an AI-powered tool used for Document & Workflow Automation. This OCR and document automation platform with AI capabilities helps in document workflows and processes data extraction. This in turn helps businesses automate document-centric business transactions like accounts payable, order processing, and insurance underwriting.
Key Features:
- Helps in smart document parsing (invoices, receipts, forms)
- Help to train a custom model
- Uses APIs that integrate to automate workflows
Use Case:
This AI-powered tool is best suited for Finance teams trying to automate accounts payable or document-heavy processes.
- Stampli
Stampli is an AI-powered tool used for Document & Workflow Automation. This AI-based accounts payable (AP) platform helps to eliminate and streamline processes in the AP process, with other AI capabilities including Stampli Direct Pay.
Key Features:
- Helps in invoice lifecycle management
- It provides AI assistant (“Billy”) for communication & tracking
- Helps in ERP integrations (NetSuite, QuickBooks)
Use Case: This AI-powered tool is best suited for AP teams need visibility, collaboration, and faster approvals on invoices.
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Xero (with AI add-ons)
Xero is an AI-powered tool used for Document & Workflow Automation. As a Cloud accounting with automation and smart insights, Xero helps accounting to fit into the user’s workflow. This AI tool also helps businesses to automate invoicing, bank reconciliations, and expense tracking and provides users with real-time financial insights to manage cash flow.
Key Features:
- It helps in bank reconciliations and expense categorisation
- It provides AI-based suggestions and cash flow forecasts
- It helps in Workflow integrations
Use Case: This AI-powered tool is best suited for small businesses and accountants need efficient bookkeeping and compliance solutions.
AI Tools for Client Engagement & Advisory
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ChatGPT
ChatGPT is a the best Client Engagement & Advisory AI-powered tool. This conversational AI applied in advisory, customer service, and financial planning. The ChatGPT applies natural language processing to comprehend user input and generate various content such as articles, code, and emails.
Key Features:
- It assists in real-time Q&A and document summarisation
- It assists in natural language financial explanations
- It offers custom GPTs for financial advisory automation
Use Case:
ChatGPT, an AI tool, is optimally designed for companies that automate client conversations, education, and assistant use within the organisation.
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Brooke AI
Brooke AI is another AI-powered automation tool used for Client Engagement & Advisory. This is an AI assistant developed by Intuit for small business accounting and tax queries. Brook AI’s voice assistant can be used to answer, handle, and appoint inbound service calls. This improves customer experience while reducing operational expenses.
Key Features
- Helps in Automated client support
- Helps to develop personalised financial insights
- Helps in integration with QuickBooks
Use Case:
This finance Q&A tool is most suitable for small businesses and advisors utilising Intuit platforms and requiring 24/7 finance Q&A assistance.
- Betterment
Betterment is an automated tool powered by AI for Client Engagement & Advisory. This robo-advisor platform employing AI to invest. It assists you in managing your money with cash management, guided investing, and retirement planning.
Key Features:
- Helps in Automated portfolio management
- Helps in Tax-loss harvesting
- Provides Goal-based investing algorithms
Use Case: This AI-powered tool is best suited for retail investors looking for low-cost, AI-managed portfolios with human advisory support as an option.
Other AI Tools Used for Finance Management
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Sage Intacct
Sage Intacct is a cloud-based ERP and accounting software with AI capabilities. This Financial Management software solution manages your finances and accounting, group accounting consolidation, multiple entities, budgeting, forecasting, accounting processes, compliance, as well as providing comprehensive business intelligence and financial reporting.
Key Features:
- Smart GL and multi-entity consolidations
- Continuous audit and anomaly detection
- Real-time dashboards
Use Case: Medium-to-large enterprises needing scalable, compliance-ready financial operations.
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Domo
Domo is a Business intelligence and data analytics platform with AI/ML support. It is used for turning raw data into actionable insights. It helps organisations connect to various data sources, transform and clean the data, and present it in interactive dashboards, reports, and charts.
Key Features:
- AI-powered KPI dashboards and alerts
Predictive modelling & smart data visualisation - Data connectors for financial systems
Use Case: Finance and exec teams centralising analytics, forecasts, and insights for better decision-making.
To ConcludeA career in finance in the Middle East has its advantages, for sure. There are a growing number of finance certifications available today, including CITF Course, for example. Similarly, AI automation is making significant changes to finance operations in the Middle East. Artificial Intelligence has tremendous potential to bring about improvements through the use of efficiency, innovation, and customer experience. As the Middle East embraces enhancements to customer experience through AI products, financial institutions realise that careful consideration of these products, and their associated challenges is necessary to fully leverage AI products. The Middle East has an opportunity to lead in developing the future of finance, through investment and foresight, in AI.
Author Profile
Vishal Kashyap
Vishal Kashyap brings 14 years of exceptional training experience to Edoxi Training Institute. He specialises in accounting software, IFRS, and QuickBooks Desktop and Online versions. He has guided over 1,500 professionals in mastering computerised accounting systems and ensures students receive up-to-date knowledge of industry trends.
Vishal is a former Training Manager and Master Trainer at ICA Eduskills and has developed a strong expertise in delivering accounting software education for the UAE’s business environment. His training approach combines theoretical knowledge with practical application, focusing on real-world scenarios. He emphasises hands-on learning and encourages independent problem-solving while providing continuous support to his students.
