Harvard Business School (HBS) has released a case study highlighting DBS Bank's extensive use of Artificial Intelligence (AI), marking the first time an Asian bank and Singaporean company has been featured in such a study at HBS. Authored by HBS Professor Feng Zhu, the eight-month research explores DBS’ AI strategy and its integration of AI to enhance customer experiences and boost employee productivity.
DBS Bank, led by CEO Piyush Gupta, began utilizing AI in 2014 to drive business value. The bank has since expanded AI implementation across various operational areas, including offering personalized financial recommendations for customers and equipping relationship managers with AI-driven insights to better understand client needs. Additionally, AI tools have been deployed to create personalized career development plans for employees.
The case study also focuses on DBS’ exploration of Generative AI, which the bank views as a key area for future growth. Professor Zhu emphasized that the case illustrates how AI can transform traditional industries, particularly in financial services, by driving value creation and operational excellence.
“The case study on DBS illustrates how AI technologies can potentially transform traditional industries, such as financial services, while driving value creation. By integrating AI into core processes, companies can unlock new potential for customer-centricity and operational excellence,” said Professor Zhu.
DBS currently operates over 800 AI models across 350 use cases and anticipates that these AI-driven solutions will deliver an economic impact exceeding SGD 1 billion by 2025. The bank’s structured governance framework and AI infrastructure have positioned it well to explore the potential of Generative AI while managing associated risks.
Piyush Gupta, who has led DBS’ AI journey, is set to retire in March 2025. He will be succeeded by Tan Su Shan, who will become DBS’ first female CEO.
The case study is now available on the Harvard Business School website and will be taught in HBS’ MBA and executive education programs, focusing on AI, digital transformation, and the impact of technology on traditional industries.
