Chief Future Officer

Where do you see the future of finance headed in the Middle East in 5 years?

In my opinion, the future of finance in the Middle East for the next five years will involve a transition from transaction processing to a greater emphasis on compliance and more partnership-oriented roles in the industry. We'll see increased adoption of digital technologies by companies to enhance efficiency and a shift towards predictive analytics. A cashless economy will likely emerge, driving fintech, payment, and blockchain innovations.

‍With AI being in the picture, what challenges do you see the finance function facing in the Middle East?

The concern here is definitely about potential job losses in finance. Some folks are just not too keen on adapting to new technologies and learning new skills. There's a fair share of traditional thinkers in our field, and that kind of resistance to change can lead to job cuts. It's quite staggering, really; there's this estimate floating around that suggests nearly half of finance functions might become irrelevant in the next three to five years. So, to tackle these challenges with AI, it's important to upskill and dip your toes into data science. Those are the main challenges I see with AI adoption.

‍Where do you see the future of finance headed in the Middle East in 5 years?

In my opinion, the future of finance in the Middle East for the next five years will involve a transition from transaction processing to a greater emphasis on compliance and more partnership-oriented roles in the industry. We'll see increased adoption of digital technologies by companies to enhance efficiency and a shift towards predictive analytics. A cashless economy will likely emerge, driving fintech, payment, and blockchain innovations.

‍Bio‍

Shafeeka Salim is a Finance Business Partner at Hello Chef, UAE's leading meal kit company. With over 9 years of expertise in accounting and financial management, she excels in developing financial policies, risk management, and process enhancements to ensure corporate stability. Her achievements include leading cost-saving initiatives and process migrations, contributing significantly to operational efficiency. Shafeeka's strategic approach and analytical skills have been pivotal in supporting Hello Chef's growth, showcasing her commitment to excellence and innovation in finance.

You have had an impressive career moving from consulting at Deloitte and KPMG to leading finance teams at fast-growing startups like Careem and now SilkHaus. How did your role evolve as you moved from consulting to the executive level?

It’s been quite a transition. In consulting, you advise on strategy and best practices, but you're not accountable for execution. You don’t deal with execution risks. In an executive role, especially in a startup, you shift to deep process and industry knowledge. You make quick decisions with imperfect data and limited resources. Resilience becomes key—you try one strategy, it doesn’t work, but you adapt and push forward. That’s not something consulting prepares you for.

Your work spans real estate, retail, and corporate development. How do you adapt your financial strategy across different sectors?

Each industry, even each revenue line, works differently. At a fundamental level, a CFO manages revenue and cost structures. But what really matters is identifying the key drivers behind those numbers, which differ dramatically across industries. At Careem, growth depended on repeat usage—more rides meant more revenue. At SilkHaus, it's about transaction value, not frequency. Every sector has unique nuances, and you need to be agile enough to adapt.

‍CFOs were traditionally seen as gatekeepers, but do you think that role has evolved? 

Not just in finance—senior leadership, in general, is moving away from the gatekeeper mindset. CFOs today are collaborative leaders, working across departments to provide data-driven insights rather than just controlling spending.

You don’t always fully grasp another department’s challenges, so an open, data-backed approach helps align everyone toward company goals. When communication is strong, insights become actionable, and execution improves.

‍When hiring for your finance team, do you prioritise education, experience, or willingness to learn?
The top priority is team dynamics—working with the right people matters most. Next is a growth mindset, as startups require adaptability. Hands-on experience is valuable, but pedigree only matters when choosing between equally strong candidates.

‍AI and digital transformation are major topics in finance. How do you see these technologies shaping the industry?

AI is streamlining repetitive finance tasks like reporting and reconciliation, making teams more efficient. It enhances predictive analytics, helping us anticipate guest needs, optimize costs, and improve cash flow planning. Real-time reporting is another game-changer, instead of waiting for monthly reports there are instant insights for better forecasting and decision-making.

How do you see finance evolving in the Middle East? And how do you think fintech will continue to impact the finance landscape here?

The UAE is becoming a fintech hub, with strong government support, including regulatory sandboxes for testing new solutions. With $40B in crypto holdings and progressive policies, the region is well-positioned for financial innovation. Despite global economic slowdowns, the UAE always continues to emerge stronger.

‍Do startups have an edge over larger companies in adopting AI, and how can tech adoption drive growth in a fast-paced startup environment?‍

Larger companies have an advantage in AI due to their vast data, which improves model accuracy. Startups, however, win on agility—quickly testing, iterating, and pivoting based on results. A strong experimentation culture allows startups to fail fast, learn, and adapt, something big companies struggle with.

Where do you see the future of finance headed in the Middle East in the next 5 years?

In the next five to ten years, we'll be moving away from a very traditional approach in finance towards a more structured, compliance-driven framework. This is due to new corporate taxes and regulatory measures being implemented. As a result, finance professionals in the Middle East must adapt to increased scrutiny and the need for transparent operations. It's a huge shift that requires us to be more precise in our financial reporting and decision-making.

‍Ever since AI has been introduced to the finance function, how do you think it has impacted finance professionals?

I find AI's introduction to finance to be a game changer. It has revolutionized finance by automating tasks and improving accuracy, thus reducing human errors. It enables us finance professionals to shift from mundane bookkeeping to strategic tasks like analysis and decision-making. This transition allows for a focus on value-driven activities, enhancing the finance function's efficiency and effectiveness.

With AI and digital transformation being in the picture, what sort of challenges do you see the finance function facing in the Middle East?

The integration of AI and digital transformation brings several challenges. The reliance on third-party data providers and the need for accurate data synchronization between different systems pose significant risks. If the data isn't accurately reflected in our systems, it can lead to substantial issues in financial management and reporting. Ensuring data accuracy and integrity is a major challenge as we move towards more automated processes, highlighting the need for robust systems to manage these changes effectively.

Bio

Abhishek Tak is a Finance Manager at GuestReady, a leading global hospitality and property management tech company. With over 9 years of experience in finance, Abhishek's qualifications from ACCA (UK), CIA (USA), and Accounting Tech (India) have been pivotal in his roles. At GuestReady, Abhishek has been instrumental in enhancing financial reporting and aligning the company with UAE tax regulations. His prior role as a tax advisor for high-net-worth individuals in the UK has honed his skills in navigating complex financial landscapes. Renowned for his pragmatic problem-solving approach, Abhishek's contributions have been crucial in driving GuestReady's financial growth and stability.