OCBC Launches ChatGPT-Powered Bot for All Employees
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OCBC Launches ChatGPT-Powered Bot for All Employees

Singapore’s OCBC will be launching a generative artificial intelligence chatbot for all 30,000 of its employees to assist in writing, research, and generating new innovative ideas.

The chatbot, developed in collaboration with Microsoft’s Azure OpenAI and utilizing ChatGPT’s Large Language Models, is intended to enhance productivity and improve customer service. This rollout follows a six-month trial with approximately 1,000 OCBC staff across various departments, including investment research, product management, and marketing. During the trial, the bot was used for tasks such as writing investment research reports, translating content in multiple languages, and drafting customer responses. Participants reported completing their tasks around 50% faster on average, even factoring in time spent checking the accuracy of the chatbot’s outputs.

Before the launch of OCBC GPT, the bank had already implemented several generative AI tools aimed at increasing productivity by up to 50%. These tools assist in coding, document summarization, call transcription, and the creation of an internal knowledge base.

Currently, AI contributes to over four million decisions daily across areas such as risk management, customer service, and sales, with expectations of reaching 10 million by 2025.

Donald MacDonald, head of OCBC’s group data office, stated, “We are excited to be one of the first banks in the world to deploy generative AI tools at scale. We believe these tools have the potential to transform the way our employees work by automating a wide range of time-consuming tasks, allowing them to focus on more strategic and value-added work. This ultimately enhances our ability to provide better customer service through stronger relationships and the development of innovative products and services.”