Key Highlights:
- Data-Centric Approach: SCBX has built a robust data ecosystem containing 6.5 petabytes of data, equivalent to one-third of the U.S. Library of Congress. This vast repository serves as the foundation for their AI initiatives.
- Partnerships and Proprietary Development: While leveraging a strong partnership with Microsoft for AI tools like Copilot, SCBX has also developed its own Thai large language model called Typhoon. This model, based on Llama 3, is designed to better serve the company’s specific needs and potentially reduce costs.
- AI Literacy Program: SCBX is implementing a comprehensive AI literacy program for its employees, structured in three stages: foundational, intermediate, and advanced. The company aims to equip 100% of its staff with varying levels of AI literacy.
- Broad Adoption and Deep Development: The company is pursuing both broad adoption of AI tools for everyday productivity and deep development for solving complex business problems. Currently, SCBX has deployed over 400 AI use cases across its operations.
- Champions Program: To accelerate adoption, SCBX has selected 300 employees across various functions to serve as AI champions, dedicating time each week to experiment with and promote AI tools.
In an era where artificial intelligence (AI) is reshaping the contours of industries, SCBX stands at the forefront of a transformative journey. As a leading financial technology group in Thailand, SCBX has embraced the strategic imperative to become an AI-first organization, recognizing the profound impact AI has on the economy and society.
Embracing AI to Disrupt Finance
Dennis Trawnitschek, Chief Technology Officer (CTO) of SCB X Public Company Limited (SCBX), said at the Marketing Oops Summit 2024 that the company’s bold objective to have 75% of its revenue AI-enabled within the next four years. This goal signifies a fundamental shift in the industry, with AI playing a crucial role in processes and decision-making. The World Economic Forum recognizes AI as a transformative force, reshaping economies and societies alike. SCBX is not just contemplating AI’s potential; it is actively harnessing its power to drive change and innovation.
Data as The New AI
The CTO of SCBX emphasized the importance of data over models, stating that data-centric approaches are key to leveraging AI effectively. With a robust data ecosystem of 6.5 petabytes, SCBX is well-equipped to feed AI systems, enabling better analytics and more efficient processes. The company’s data lake is not just a repository but a dynamic resource that informs AI applications across various domains.
Building AI Capabilities
SCBX’s commitment to AI is evident in its partnerships and internal developments. The company has partnered with Microsoft to leverage its AI tools and cloud platform, while also developing its own large language model, Typhoon, tailored for Thais. This model addresses the unique linguistic and financial nuances of the region, demonstrating SCBX’s dedication to customized AI solutions.
Cultivating AI Literacy
Recognizing that AI’s success hinges on people, SCBX has launched an AI literacy program to equip employees with the necessary skills to utilize AI effectively. The program aims to demystify AI, dispel fears, and enable staff to focus on more strategic and engaging work. By fostering an AI-literate workforce, SCBX ensures that its employees are not just participants but active contributors to the AI-first vision.
Championing AI Adoption
To drive broad AI adoption, SCBX has established a champions program, selecting 300 individuals across various functions to lead the way. These champions are not only early adopters but also advocates for AI within the organization, showcasing its potential through practical applications and encouraging others to embrace AI in their daily tasks.
The Future of AI in SCBX
As SCBX continues its journey, the company is poised to redefine the financial services industry through AI. From customer engagement to software development, AI is becoming an integral part of SCBX’s operations. The company’s AI-first strategy is not just about technology; it’s about creating a culture of innovation, learning, and growth that will propel SCBX into a new era of finance.
SCBX’s transformation into an AI-first organization is a testament to the power of technology to revolutionize industries. By prioritizing data, developing AI capabilities, and fostering a culture of AI literacy, SCBX is setting a new standard for financial services and demonstrating the limitless possibilities of artificial intelligence.
