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OCBC is first bank in Singapore to establish AI unit

The Edge logo The Edge 14/3/2018 Michelle Zhu Open Vault_20180314200125_theedgesingapore.jpg © Provided by The Edge Open Vault_20180314200125_theedgesingapore.jpg

SINGAPORE (March 14): OCBC Bank on Tuesday announced the launch of its own artificial intelligence (AI) unit named AI Lab@TOV within its Fintech and Innovation Group, The Open Vault at OCBC (TOV), in a move to position itself as an “AI-first” bank.

The aim is to deliver greater value to customers by giving them access to banking services through natural user interfaces that are seamless and convenient, as well as targeted and tailored products and services that are contextually relevant, driven by machine learning, says OCBC in a media statement.

According to OCBC, an initial investment of S$10 million over three years has been committed with a pioneering team of three data scientists, led by Ken Wong, to drive the adoption of...(click on link for full story on

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