Standard Chartered has officially rolled out its new Generative AI (GenAI) tool, SC GPT, across 41 markets globally, reinforcing its commitment to innovation in banking technology. The launch is part of the Bank’s ongoing strategy to integrate cutting-edge AI into its operations to boost efficiency, client engagement, and overall productivity.

It is here to empower more than 70,000 employees worldwide, SC GPT is ready to revolutionize how the Bank operates. It aims to enhance operational workflows, tailor sales and marketing efforts to boost revenue, automate software engineering, and refine the measurement, management, recording, and reporting of risks. This powerful tool is a crucial step in Standard Chartered’s pursuit of digital transformation.

Standard Chartered Shares SC GPT, a Generative AI Tool

“We believe SC GPT reflects our people-focused approach to AI and our commitment to innovation with responsibility,” said Mohammed Rahim, Group Chief Data Officer at Standard Chartered. “With a strong governance framework and ethical AI principles at its core, SC GPT is going to help us scale AI across the business while promoting fairness and mitigating biases.”

The Bank is also working on a customized version of SC GPT to solve unique challenges specific to Standard Chartered. Local teams will be able to use the tool to create solutions tailored to regional needs. Notable use cases include content generation for digital marketing, translation services, and customer advisory tools.

Bill Winters, Group Chief Executive, emphasized the importance of adopting GenAI across the banking sector, saying, “By responsibly harnessing GenAI, we’re driving new efficiencies, transforming service delivery, and reinforcing our leadership in digital banking.” Winters added that SC GPT’s potential to transform Cross-border and Affluent banking services would be a game changer for the bank.

Standard Chartered plans to expand SC GPT’s reach to 10 more markets in the coming months, signaling further growth and innovation for the financial giant.

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