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OCBC Bank has set up a new unit dedicated to developing and integrating artificial intelligence (AI) capabilities into its products and services.
The Singapore bank said it was investing an initial amount of S$10 million (US$7.6 million) over three years to support a pioneer team of three data scientists, which headcount was targeted to double within a year. These specialists would be tasked to push the adoption of AI across the company’s services, including loans financing and wealth advisory.