“OCBC Bank is set to revolutionize how its employees work by rolling out a generative AI chatbot, OCBC ChatGPT, globally. This groundbreaking move follows a successful six-month trial involving approximately 1,000 OCBC staff across various functions, including investment research, product management, and marketing. During the trial, employees harnessed OCBC GPT to streamline tasks such as…
Tag: artificial intelligence
AI and data: Honing hyper-personalization to build the bank of the future
“’We want to use AI and ML to identify key events in the customer’s life that might necessitate financial support and use that response to help customers ultimately achieve their life ambitions,’ he says to ZDNET in a video interview. Effective hyper-personalization means using data that’s already been collected in combination with emerging technologies to…
American banks dominate AI transformation race
“North American banks are winning a global race to transform banking into an AI-first industry, according to a new report from banking data provider Evident. J.P. Morgan Chase leads in AI research, Capital One in AI patents, and Wells Fargo in AI investments. Other top performers include Royal Bank of Canada, TD Bank, Goldman Sachs,…
A Generative AI Decision-Making Guide for Community Banks and Credit Unions
“As we deepen our exploration of generative AI, crafting a strategic blueprint for governance becomes essential. Ethical AI is not just a consideration but a mandate, requiring vigilant oversight. A ‘center of excellence’ must be established to develop frameworks that address ethics, bias and risk. Leveraging LLMs on institutional knowledge is a key component of…
JPMorgan CEO Jamie Dimon Says AI ‘Is Real’ and Will Eliminate the 5-Day Work Week. Here’s How His Company’s Going All In.
“’Your children are going to live to 100 and not have cancer because of technology,’ Dimon told the outlet. ‘And literally, they’ll probably be working three-and-a-half days a week.’ New research from Stanford and MITsupports the productivity spike: A study that is believed to be the first significant real-world application of generative AI in the…