Harvard Business School examines DBS' AI strategy and implementation in its first case study focusing on AI in an Asian bank
Harvard Business School (HBS) has published a case study on DBS' Artificial Intelligence (AI) strategy, marking the first AI-focused study on an Asian bank. Authored by Professor Feng Zhu, the case examines DBS' AI implementation since 2014 and its approach to Generative AI. DBS has integrated AI across its operations, with over 800 AI models across 350 use cases, expecting an economic impact exceeding SGD 1 billion in 2025.
The study highlights DBS' use of AI to enhance customer experience, boost employee productivity, and create personalized services. In 2023, DBS ranked #1 for AI Strategy Leadership in the Global Evident AI Index and #10 overall, being the only Asian bank in the Top 10. The case will be taught in HBS MBA programs and executive education courses on AI and digital transformation.
La Harvard Business School (HBS) ha pubblicato uno studio di caso sulla strategia di Intelligenza Artificiale (IA) di DBS, segnando il primo studio focalizzato sull'IA in una banca asiatica. Scritto dal Professor Feng Zhu, il caso analizza l'implementazione dell'IA da parte di DBS dal 2014 e il suo approccio all'IA Generativa. DBS ha integrato l'IA in tutte le sue operazioni, con oltre 800 modelli di IA e 350 casi d'uso, prevedendo un impatto economico superiore a 1 miliardo di SGD entro il 2025.
Lo studio evidenzia l'uso dell'IA da parte di DBS per migliorare l'esperienza del cliente, aumentare la produttività dei dipendenti e creare servizi personalizzati. Nel 2023, DBS si è classificata al numero 1 per la Leadership della Strategia IA nell'Indice Globale Evident AI e al numero 10 in generale, essendo l'unica banca asiatica nella Top 10. Il caso sarà insegnato nei programmi MBA e nei corsi di formazione executive su IA e trasformazione digitale di HBS.
La Harvard Business School (HBS) ha publicado un estudio de caso sobre la estrategia de Inteligencia Artificial (IA) de DBS, marcando el primer estudio centrado en IA de un banco asiático. Escrito por el profesor Feng Zhu, el caso examina la implementación de IA por parte de DBS desde 2014 y su enfoque hacia la IA Generativa. DBS ha integrado la IA en sus operaciones, con más de 800 modelos de IA en 350 casos de uso, esperando un impacto económico que supere los 1 mil millones de SGD en 2025.
El estudio destaca el uso de IA por parte de DBS para mejorar la experiencia del cliente, aumentar la productividad de los empleados y crear servicios personalizados. En 2023, DBS ocupó el puesto número 1 en Liderazgo en Estrategia de IA en el Índice Global Evident AI y el número 10 en general, siendo el único banco asiático en el Top 10. El caso se enseñará en los programas de MBA y en los cursos de educación ejecutiva sobre IA y transformación digital de HBS.
하버드 비즈니스 스쿨(HBS)은 DBS의 인공지능(AI) 전략에 대한 사례 연구를 발표했습니다. 이는 아시아 은행에 대한 첫 번째 AI 중심 연구로 기록됩니다. 펑 주 교수에 의해 저술된 이 연구는 2014년 이후 DBS의 AI 구현과 생성적 AI에 대한 접근 방식을 조사합니다. DBS는 350개의 사용 사례에서 800개 이상의 AI 모델을 통합하여 운영에 AI를 적용하고 있으며, 2025년까지 경제적 영향이 10억 SGD를 초과할 것으로 예상하고 있습니다.
이 연구는 고객 경험을 향상시키고 직원 생산성을 높이며 개인화된 서비스를 창출하기 위해 DBS가 AI를 활용하는 방법을 강조합니다. 2023년 DBS는 글로벌 에비던트 AI 지수에서 AI 전략 리더십 1위 및 종합 10위를 기록했으며, 아시아 은행 중 유일하게 상위 10위에 올랐습니다. 이 사례는 HBS의 MBA 프로그램과 AI 및 디지털 혁신에 관한 임원 교육 과정에서 가르쳐질 예정입니다.
La Harvard Business School (HBS) a publié une étude de cas sur la stratégie d'intelligence artificielle (IA) de DBS, marquant la première étude axée sur l'IA d'une banque asiatique. Rédigé par le professeur Feng Zhu, le cas examine la mise en œuvre de l'IA par DBS depuis 2014 et son approche de l'IA générative. DBS a intégré l'IA dans toutes ses opérations, avec plus de 800 modèles d'IA dans 350 cas d'utilisation, s'attendant à un impact économique dépassant 1 milliard de SGD d'ici 2025.
L'étude met en lumière l'utilisation de l'IA par DBS pour améliorer l'expérience client, accroître la productivité des employés et créer des services personnalisés. En 2023, DBS a été classée numéro 1 pour le leadership en stratégie IA dans l'Indice Global Evident AI et numéro 10 au général, étant la seule banque asiatique dans le Top 10. Ce cas sera enseigné dans les programmes MBA de HBS et dans les cours de formation pour les cadres sur l'IA et la transformation numérique.
Die Harvard Business School (HBS) hat eine Fallstudie zur KI-Strategie von DBS veröffentlicht, die die erste KI-fokussierte Studie über eine asiatische Bank darstellt. Verfasst von Professor Feng Zhu, untersucht die Studie die Implementierung von KI bei DBS seit 2014 und deren Ansatz für Generative AI. DBS hat KI in seinen Betrieb integriert, mit über 800 KI-Modellen in 350 Anwendungsfällen, mit der Erwartung, dass die wirtschaftlichen Auswirkungen bis 2025 über 1 Milliarde SGD betragen werden.
Die Studie hebt die Nutzung von KI durch DBS hervor, um das Kundenerlebnis zu verbessern, die Produktivität der Mitarbeiter zu steigern und personalisierte Dienstleistungen zu schaffen. Im Jahr 2023 belegte DBS den 1. Platz für KI-Strategieführerschaft im Global Evident AI Index und den 10. Platz insgesamt, als einzige asiatische Bank unter den Top 10. Der Fall wird in den MBA-Programmen und in den Ausbildungskursen für Führungskräfte zu AI und digitaler Transformation an der HBS gelehrt.
- DBS has implemented over 800 AI models across 350 use cases
- Expected economic impact of AI to exceed SGD 1 billion in 2025
- Ranked #1 for AI Strategy Leadership in the Global Evident AI Index
- Only Asian bank in the Top 10 of the Global Evident AI Index
- Received Celent's Global Model Bank Award for AI Industrialisation in 2024
- None.
Insights
DBS's AI strategy appears to be yielding significant financial benefits. The bank projects an economic impact exceeding
DBS's approach to AI industrialization is noteworthy. By embedding AI across various business functions, from customer experience to employee productivity, they're creating a holistic AI ecosystem. The mention of hyperpersonalized nudges for customers and AI-driven insights for relationship managers indicates advanced machine learning applications. The bank's readiness for Generative AI, built on their existing AI infrastructure, positions them well for future innovations. However, the challenge lies in maintaining this edge as AI technologies rapidly evolve. Investors should watch for DBS's ability to stay ahead of the curve, particularly in areas like AI governance and risk management, which will be important as AI becomes more prevalent in financial services.
DBS's top ranking in AI Strategy Leadership in the Global Evident AI Index and its position as the only Asian bank in the Top 10 underscores its leadership in AI adoption within the region. This could translate to a significant competitive advantage in attracting tech-savvy customers and talent. The Harvard Business School case study further validates DBS's AI strategy, potentially enhancing its reputation among investors and industry peers. However, as AI becomes more widespread in banking, DBS will need to continually innovate to maintain this edge. Investors should monitor how DBS leverages this recognition to drive business growth and whether it translates into measurable market share gains or customer acquisition rates in the coming years.
Authored by Feng Zhu, HBS Professor of Business Administration, the case highlights the bank's use of AI and takeaways for companies navigating technological change
Authored by Professor Feng Zhu, MBA Class of 1958 Professor of Business Administration at HBS and Co-Chair of the Harvard Business Analytics Program, the case maps the bank's strategy and implementation as it industrialised its use of AI since 2014 to unlock business value, as well as how DBS is now approaching Generative AI.
Professor Zhu has authored over 80 articles, cases, and notes in prestigious practitioner and academic journals, including the Harvard Business Review, American Economic Review, and Management Science. His research has also won international awards, such as the Inaugural Practical Impacts Award from the INFORMS Information Systems Society, which recognises business school academics with outstanding leadership and sustained industry impact through their research.
Professor Zhu said, "The case study on DBS illustrates how AI technologies can potentially transform traditional industries, such as financial services, while driving value creation. By integrating AI into core processes, companies can unlock new potential for customer-centricity and operational excellence."
DBS has scaled the use of AI across all parts of the bank, embedding the technology into use cases to enhance customer experience and boost employee productivity. For instance, DBS leverages AI to generate hyperpersonalised nudges to enable customers to make better investment and financial planning decisions, provide relationship managers with deeper insights to better engage their customers, and develop tailored career and upskilling roadmaps to help every employee build long-term careers with the bank.
DBS CEO, Piyush Gupta, said, "AI is shaping up to be an absolute game changer in the way we live and work. DBS has been working with AI for over a decade now, and in recent years, we've managed to industrialise the use of AI across the bank. We today deploy over 800 AI models across 350 use cases, and expect the measured economic impact of these to exceed
The case will be taught in the HBS Master of Business Administration (MBA) Program, the Senior Executive Leadership Program –
In 2023, DBS was ranked #1 for AI Strategy Leadership in the Global Evident AI Index, an independent benchmark which ranks 50 of the largest financial institutions in
The case study can be accessed at: https://www.hbs.edu/faculty/Pages/item.aspx?num=66332
About DBS
DBS is a leading financial services group in
Recognised for its global leadership, DBS has been named "World's Best Bank" by Global Finance, "World's Best Bank" by Euromoney and "Global Bank of the Year" by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in
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SOURCE DBS BANK LTD
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