Harvard Business School (HBS) DBS BankUtilizing artificial intelligence (AI).
The survey, which was conducted over eight months, is said to be HBS’s first survey of Asian banks and companies in Singapore.
The study, authored by HBS Professor Feng Zhu, explores DBS’ AI strategy and how it has integrated AI into its operations to improve customer experience and employee productivity.
This case study outlines how DBS has used AI to drive business value since 2014 and its recent efforts to explore the potential of Generative AI.
Over the years, DBS has expanded its use of AI across various areas of the bank.
This includes using AI to provide customized recommendations that help customers make informed financial and investment choices.
AI tools have also been deployed to help relationship managers understand customers more comprehensively, and personalized career development plans have been created to support employees in their career progression.
The case will be taught in HBS’s MBA and executive education programs focused on AI and digital transformation.
Now available at HBS Website.
Professor Zhu said:
“The DBS case study demonstrates the potential for AI technology to transform traditional industries such as financial services and drive value creation. By integrating AI into core processes, businesses can unlock new possibilities for customer centricity and operational excellence.”
Piyush Gupta, CEO of DBS, said:
“DBS has been working on AI for over a decade and has successfully industrialised the use of AI across the bank in recent years. We currently have over 800 AI models deployed across 350 use cases, doubling sequentially over the past few years, and expect these to have an economic impact of over S$1 billion by 2025.”
More importantly, the infrastructure and governance framework we’ve established in our AI journey will enable us to realize the full potential of Generative AI while managing its emerging risks.”
Piyush is set to retire in March next year. Successful By Tan Soo Shan, DBS’s first female CEO.
Featured Image Credit: Free Pick
