Standard Chartered has launched a new generative AI tool, dubbed ‘SC GPT, ‘ across 41 markets worldwide, to enhance operational efficiency and client engagement.
As Standard Chartered looks to integrate more AI-driven technology into its operations, it plans to empower over 70,000 employees worldwide. The bank expects SC GPT will improve its operations and productivity; tailor sales and marketing efforts to increase revenue; advance software engineering with more automation; and scale how risks are measured, managed, recorded and reported.
“SC GPT reflects our people-focused approach to AI and commitment to innovation with responsibility,” explained Mohammed Rahim, group chief data officer at Standard Chartered. “We developed the tool with strong governance, and ethical AI principles are at its core. As we scale generative AI across our business, we remain committed to responsible AI adoption, guided by our responsible AI framework to mitigate potential biases and promote fairness.”
A more customised version that enables the bank to use Group data to better solve problems particular to Standard Chartered is also underway. Local teams can also leverage SC GPT to develop tailored solutions that address market-specific needs. Use cases include content generation for digital marketing, translation and customer enablement services, specifically in product and service advisory. Standard Chartered plans to expand SC GPT to 10 further markets over the coming months.
Bill Winters, group chief executive at Standard Chartered, also added: “Effective adoption of generative AI is an operational imperative for all banks. We have a distinctive and increasingly differentiated strategy – we believe the potential for generative AI to help us win in so many areas across cross-border and affluent banking will be game-changing.
“By harnessing generative AI responsibly, we are driving new efficiencies, transforming service delivery and reinforcing our leadership in digital banking. This is just the beginning of how we will continue to innovate and create long-term value for our clients, colleagues, and communities.”
