Standard Chartered has launched SC GPT, a GenAI tool, across 41 markets worldwide as part of its strategy to integrate AI into its business.

The tool is designed to improve operational efficiency and client engagement.

SC GPT is expected to support over 70,000 employees globally by improving operations and productivity, tailoring sales and marketing efforts to drive revenue, advancing software engineering through automation, and enhancing the way risks are measured, managed, recorded, and reported.

Mohammed Rahim, Group Chief Data Officer at Standard Chartered, said:

“The tool has been developed with strong governance and ethical AI principles at its core. As we scale GenAI across our business, we remain committed to responsible AI adoption, guided by our responsible AI framework to mitigate potential biases and promote fairness.”

A customised version that enables the Bank to use Group data for specific problem-solving is in development.

Local teams can also use SC GPT to create solutions tailored to market needs, including content generation for digital marketing, translation, and customer support in product and service advisory.

Bill Winters, Group Chief Executive at Standard Chartered, said:

“Effective adoption of GenAI is an operational imperative for all banks. We have a distinctive and increasingly differentiated strategy – we believe the potential for GenAI to help us win in so many areas across Cross-border and Affluent banking will be game-changing.”

“By harnessing GenAI 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.”

Standard Chartered plans to expand SC GPT to 10 more markets in the coming months.

Featured image credit: edited from freepik

This article first appeared on Fintech News Singapore