UOB Sets New Banking Standards with Microsoft 365 Copilot and Generative AI

Discover how UOB pioneers the use of Generative AI with Microsoft 365 Copilot to boost productivity, collaboration, and innovation in banking. Explore the future of responsible AI integration in the financial industry.

UOB has become the first Singaporean bank to initiate a trial of Microsoft 365 Copilot, a productivity tool powered by Generative Artificial Intelligence (Generative AI).

As part of its participation in the Microsoft 365 Copilot Early Access Program (EAP), UOB is scheduled to commence its use of Microsoft 365 Copilot in October 2023. Over the course of the rollout, approximately 300 employees spanning various roles in both frontline and back-end functions within the bank will gradually gain access to this innovative AI tool from Microsoft. This will extend to staff members in branches, customer service, technology, and operations, providing them with the means to enhance productivity, accessibility, and collaboration while ensuring security.

Lawrence Goh, Chief Operating Officer and Head of Group Infrastructure Platform Services at UOB, expressed the bank’s excitement about integrating Generative AI into its daily operations. UOB takes pride in being one of the pioneering banks in ASEAN to deploy Microsoft 365 Copilot to its employees. Beyond productivity enhancements, the bank hopes that this tool will ignite creativity and foster innovation among its staff, ultimately enhancing the banking experience for customers.

Microsoft also expressed its enthusiasm for collaborating with UOB to equip its workforce with Generative AI tools like Microsoft 365 Copilot, which is expected to provide the agility required to address evolving customer expectations, competitive pressures, and regulatory changes.

Introduced by Microsoft in March 2023, Microsoft 365 Copilot combines the capabilities of large language models with user data from calendars, emails, chats, documents, meetings, and various Microsoft 365 apps such as Outlook, Word, PowerPoint, and Teams. This integration transforms text into a powerful Generative AI-driven productivity tool.

During the EAP, participating UOB employees will have one year of access to Microsoft 365 Copilot, accompanied by support from a global Center of Excellence and the Microsoft Customer Success team. Workshops are also available to ensure a seamless adoption and onboarding process.

UOB employees can anticipate several benefits from Microsoft 365 Copilot:

1. Boosted Productivity and Effectiveness: The tool empowers employees to streamline their work processes, including summarizing lengthy documents and email threads in Outlook, converting raw data into visualizations in Excel, and delivering concise meeting summaries on Teams. This automation saves valuable time, allowing employees to focus on more impactful tasks and unleash their creativity.
2. Enhanced Accessibility to Information: Microsoft 365 Copilot enables employees to effortlessly locate and reference information within the bank. It intelligently identifies and retrieves relevant data based on the context of emails or documents, facilitating seamless collaboration among employees across different functions.
3. Improved Content Quality and Messaging: With Microsoft 365 Copilot, employees can transform existing documents into engaging presentations, make content more concise, and suggest appropriate tones for messages. This ensures a consistent and compelling voice across the bank’s marketing materials and customer responses.

UOB recognizes the potential of integrating Generative AI into its daily operations. The Microsoft 365 Copilot EAP represents an opportunity for the bank to explore and guide employees in adopting a new AI-assisted work style, incorporating active employee feedback loops that contribute to a broader strategy for leveraging Generative AI throughout the organization. This aligns with UOB’s long-term plans to explore and embrace GenAI technology for meaningful and sustainable business outcomes, benefiting both employees and customers while upholding responsible AI use.

UOB’s pioneering partnership with Microsoft to implement Microsoft 365 Copilot marks a significant milestone in the evolution of banking operations, harnessing the power of Generative AI to enhance productivity, collaboration, and innovation. As UOB continues to explore the possibilities of AI in its daily operations, this initiative sets the stage for a future where technology not only streamlines processes but also empowers employees and enriches customer experiences. With a commitment to responsible AI usage, UOB’s journey towards integrating Generative AI aligns seamlessly with its mission to drive meaningful and sustainable outcomes for its workforce and valued customers, positioning the bank at the forefront of innovation in the financial industry.