UOB and Microsoft Collaborate to Revolutionise Banking with New AI
In an exciting leap towards innovation, United Overseas Bank (UOB), Singapore’s leading bank, is set to become the first Singaporean bank to trial Microsoft 365 Copilot, a revolutionary Generative Artificial Intelligence (Generative AI)-powered productivity tool. This groundbreaking collaboration aims to not only enhance productivity and accessibility for UOB’s employees but also foster creativity and innovation, ultimately elevating customer experiences in the banking sector.
A Digital Revolution Begins
The partnership between UOB and Microsoft marks a significant milestone in the banking industry. As part of the Microsoft 365 Copilot Early Access Program (EAP), UOB will use Microsoft 365 Copilot in October 2023, allowing 300 employees across various business functions to gain access to this cutting-edge AI innovation progressively. These functions include branches, customer service, technology, and operations. This pioneering initiative aims to empower UOB’s workforce by providing them with the tools to excel while maintaining high security.
Unleashing the Power of Generative AI
Microsoft 365 Copilot, introduced by Microsoft in March 2023, combines the capabilities of large language models with business data from users’ calendars, emails, chats, documents, meetings, and more. Integrated with Microsoft 365 apps like Outlook, Word, PowerPoint, and Teams, this tool transforms words into a Generative-AI-powered productivity tool.
Enhancing Productivity and Efficiency
Participating UOB employees can access Microsoft 365 Copilot for one year, during which they will receive support from a global Center of Excellence and Microsoft’s Customer Success team. Workshops are also available to ensure a seamless adoption and onboarding process. The impact of this collaboration on UOB’s workforce is expected to be profound, with several key benefits:
Raise productivity and effectiveness: Microsoft 365 Copilot empowers employees to work more efficiently. It can summarise lengthy documents, extract insights from data, and create concise meeting summaries. This automation liberates employees’ time, enabling them to focus on more strategic tasks and fostering creativity.
Improve accessibility to information: The tool enables employees to locate and reference information within the bank effortlessly. It intelligently identifies and retrieves relevant data based on the context of emails or documents, facilitating seamless collaboration and knowledge sharing among employees from different functions.
Enhance content quality: With Microsoft 365 Copilot, employees can transform existing documents into engaging presentations, make content more concise, and suggest suitable tones of voice for messages. This ensures the bank maintains a consistent and compelling voice across marketing materials and customer interactions.
A Vision for the Future
UOB’s commitment to integrating Generative AI into its daily operations reflects its forward-thinking approach. The Microsoft 365 Copilot EAP is about adopting AI tools and guiding employees towards a new way of working with AI. Active feedback loops from employees will contribute to a broader GenAI strategy, ensuring that AI technology is used responsibly and sustainably.
As UOB explores and adopts GenAI technology, it aims to create meaningful and sustainable business outcomes that benefit employees and customers. With a rich history of nearly nine decades and a strong focus on customer-centricity, UOB is dedicated to building the future of ASEAN, connecting businesses to opportunities in the region, fostering social inclusiveness, creating a positive environmental impact, and pursuing economic progress.
As a partner in this journey, Microsoft is committed to enabling digital transformation and empowering organisations to achieve more in the intelligent cloud and edge era.
In conclusion, the collaboration between UOB and Microsoft is a testament to the transformative power of technology in the banking sector. By embracing Generative AI, UOB is enhancing its operational efficiency and creating a platform for its employees to innovate and deliver exceptional customer experiences, setting a remarkable precedent for the future of banking in Singapore and beyond.
