https://arab.news/wm3tq
RIYADH: Saudi artificial intelligence company Humain has invested in Saudi AI firm MOZN and entered into a partnership to develop enterprise AI solutions for financial institutions and public sector organizations locally and globally.
It is the first investment by Humain - which is backed by the PIF - in a Saudi company.
The partnership aims to accelerate the adoption of sovereign AI across the financial and public sectors by helping organizations move from pilot projects to secure, production-scale deployments.
The companies will jointly develop AI solutions through a shared product road map, initially focusing on financial crime prevention, knowledge intelligence, and governance, risk and compliance.
MOZN’s Forward Deployed Engineering teams will work directly with customers to design, deploy and scale AI applications.
The co-developed solutions will also be available through the Humain ONE AI Agent Marketplace.
Mohammed Al-Hussain, founder and CEO of MOZN, said financial institutions and public sector organizations are increasingly looking for AI services that deliver measurable business outcomes, not just technology.
“As AI becomes more deeply integrated into critical operations, organizations need confidence that it can be deployed securely, responsibly and in line with regulatory requirements,” he told Arab News.
This is particularly important for financial institutions and public sector organizations, where trust, compliance and security are essential, he added.
“Sovereign and trusted AI provide greater control over data and AI operations while enabling organizations to innovate with confidence and meet evolving regulatory expectations.”
Tareq Amin, CEO of Humain, said the partnership marks one of the first strategic engagements under the company’s newly launched banking, financial services and insurance sector.
“Our first investment in a Saudi company with MOZN strengthens our ability to deliver production-grade AI solutions for highly regulated environments, enabling measurable operational impact while expanding access to these capabilities across regional and global markets,” he added.
The partnership comes as the financial services industry enters a new phase of AI adoption. According to the Cambridge Center for Alternative Finance, 81 percent of financial services firms have adopted AI in at least one business function, while McKinsey estimates generative AI could generate between $200 billion and $340 billion in annual value for the banking sector.
Humain and MOZN intend to work with early customers to co-develop the first solutions, which are expected to be introduced at the LEAP global technology conference starting Aug. 31 in Riyadh.