OCBC has become Singapore’s first bank to introduce a generative AI chatbot to all employees worldwide.
All 30,000 employees globally at OCBC will have access to a generative artificial intelligence (AI) chatbot in November, according to a statement, making it Singapore’s first bank to achieve such a feat.
The chatbot was developed in collaboration with Microsoft’s Azure OpenAI and aims to assist staff in writing, research and ideation. OCBC ChatGPT is powered by ChatGPT’s «Large Language Models», which produces answers and results based on accessible text-based information on the web, hosted in a secure and controlled environment.
Operational Improvements
During a six-month trial from April to September 2023 with 1,000 OCBC staff, the bank’s GPT capabilities were used in areas such as investment research reports, content translation and customer response drafts. Including the time required to ensure factual accuracy, tasks were completed 50 percent faster than before.
Other tools to develop code, summarize documents, transcribe calls and create an internal knowledge base also boosted productivity by as much as 50 percent.
«We are excited to be one of the first banks in the world to deploy generative AI tools at scale. We believe that these tools have the potential to transform the way our employees work by automating a wide range of time-consuming tasks, freeing up their time to focus on more strategic and value-added work,» said OCBC head of group data office Donald MacDonald.
