DBS to Train Staff in AI and Machine Learning
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The bank hopes to equip its employees with skills in these areas, under a partnership with cloud services provider Amazon Web Services (AWS).
DBS Bank will accelerate the use of artificial intelligence (AI) and machine learning (ML) across its business by training its staff in these skills with the launch of the AWS DeepRacer League, the bank announced on Tuesday.
As part of the program, DBS staff will learn the basics of AI and ML through hands-on online tutorials and will use their knowledge in programming an autonomous model race car to compete in a virtual racing environment. The bank hopes to train some 3,000 employees, including its senior leadership, by the end of the year. The league is the largest among Asian-headquartered enterprises and one of the first in the world to be organized at scale by a financial institution, the announcement said.
Employees are also encouraged to develop their talent beyond the bank’s league and compete globally – the bank said six of its employees have already qualified for the AWS DeepRacer Championship Cup to be held in Las Vegas later this year.
We have never believed in limiting digital expertise to a small team. Instead, we passionately believe in democratizing technology skillsets among all employees, so that they can run alongside the company as we advance on our digital transformation together, Paul Cobban, DBS chief data and transformation officer, said.
DBS said it is preparing for the next stage of its digital transformation efforts and has been leveraging AI and ML in areas such as advanced credit risk management, and to provide accurate self-service digital options to its retail customers based on their digital footprint.
Questions & Answers
Q.What is the primary goal of DBS Bank's new training initiative?
What is the primary goal of DBS Bank's new training initiative?
DBS Bank aims to accelerate the use of artificial intelligence and machine learning across its business. This will be achieved by equipping its employees with skills in these areas through a partnership with Amazon Web Services.
Q.How many DBS employees are expected to receive training by the end of the year?
How many DBS employees are expected to receive training by the end of the year?
The bank hopes to train approximately 3,000 employees by the end of the year. This group includes members of its senior leadership, as part of the new initiative.
Q.What is the specific method DBS staff will use to learn AI and ML skills?
What is the specific method DBS staff will use to learn AI and ML skills?
DBS staff will learn the basics of AI and ML through hands-on online tutorials. They will then apply this knowledge by programming an autonomous model race car to compete in a virtual racing environment.
Q.In what existing business areas does DBS currently utilise AI and ML?
In what existing business areas does DBS currently utilise AI and ML?
DBS is already using AI and ML in advanced credit risk management. The bank also uses these technologies to provide accurate self-service digital options to its retail customers, based on their digital footprint.
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