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DBS Case Study

Introduction

DBS is fighting to stay relevant in the second phase of its future-ready digital transformation. As an established incumbent, the bank faces challenges from emerging fintech companies. In order to adapt to the significant changes in the banking industry—driven primarily by technological advancements—DBS is embarking on strategic shifts in its operational paradigms.

Facing the Disruptors

DBS is threatened by the influx of startups and major technology companies entering the fintech space. The potential for disruption is hard to quantify, forcing the bank to proactively engage in a second phase of digital transformation. Piyush Gupta, DBS CEO, has aptly said, "The second stage was tougher because no one knew what a digital bank should look like."

A New Approach to Partnerships

Previously, DBS viewed its external relationships as vendor-oriented, where the bank set the terms. Now, DBS aims to collaborate closely with partners in order to learn and grow together. This partnership mindset is central to the bank's digital transformation strategy. One exemplary partnership has been with Microsoft, which has played an essential role in DBS's digital journey.

Focus on Collaboration

The focus is not just on products, but also on people and processes. Both DBS and Microsoft have invested in building a strong collaborative environment, breaking down silos, and learning from each other. Such collaborative efforts go beyond mere service provision; they also focus on human aspects, highlighting that a good partnership is crucial for success.

Expanding Horizons

DBS has actively sought partnerships in new markets like Indonesia and India. It has launched property and electricity marketplaces in Singapore, working with existing players to avoid duplicative efforts. Through these innovative partnerships, DBS continues to make strides in its digital transformation journey.

Building the Foundation

DBS understands that its future must be built on a robust technological foundation. After significant investments in basic IT infrastructure during the first phase, the bank is now poised to accelerate its market entry with a stable platform. Beyond mere digitization, the bank is re-architecting its backend systems to enable true digital transformation.

Embracing New Work Cultures

DBS envisions itself as a 22,000-person startup, nurturing a culture that emphasizes speed and agility. The workforce of the future will focus more on flexible and agile practices, and metrics will go beyond traditional financial measures to include indicators that drive digital transformation.

Leadership and Strategy

CEO Piyush Gupta has championed digital transformation through a top-down approach. He has incorporated digital KPIs into scorecards and encourages a culture of experimentation and risk-taking. Gupta understands the need for a shift in the organizational culture and works diligently to instill this change throughout DBS.

Preparing for the Future

DBS began its digital transformation journey in 2014, gradually evolving into a technology company that offers financial services. It has shifted its focus towards hiring more engineers than bankers and has been recognized as the world's best digital bank multiple times by Euromoney. With its robust infrastructure, DBS is well-prepared to adapt to future technologies and continue offering innovative banking solutions.

By adopting a partnership mindset, focusing on collaboration, and building a solid technological foundation, DBS is positioning itself strongly for the future. Its transition from a traditional bank to a technology-driven financial institution exemplifies how companies can adapt and thrive in a rapidly changing landscape.

DBS Case Study

Welcome to "Continuous Improvement," the podcast where we explore the strategies and stories behind companies' efforts to evolve and thrive in today's ever-changing business landscape. I'm your host, Victor, and in today's episode, we delve into the fascinating journey of DBS, a bank that has embraced digital transformation to stay ahead in the fintech revolution.

In the midst of disruptive forces and emerging fintech companies, DBS recognized the need to adapt and proactively engage in a second phase of digital transformation. As Piyush Gupta, the CEO of DBS, aptly noted, "The second stage was tougher because no one knew what a digital bank should look like."

Previously, DBS viewed its external relationships as vendor-oriented. But now, the bank has shifted its approach to collaboration, recognizing the value of partnerships in its digital transformation strategy. Notably, DBS has forged a strong partnership with Microsoft, where both organizations have invested in building a collaborative environment and learning from each other's expertise.

The focus of DBS's transformation extends beyond products and services—it centers around people and processes. By breaking down silos and nurturing a collaborative work environment, DBS is harnessing the power of partnership and realizing that success lies not just in service provision, but in building a strong relationship that drives innovation.

DBS's digital transformation journey hasn't been limited to its home market. In fact, the bank has actively sought partnerships in new markets, like Indonesia and India, and launched property and electricity marketplaces in Singapore. By collaborating with existing players and avoiding duplicative efforts, DBS is expanding its horizons and making significant strides in its digital transformation.

A strong technological foundation is the bedrock of DBS's future. After significant investments in basic IT infrastructure, the bank is re-architecting its backend systems, enabling true digital transformation. This robust infrastructure ensures that DBS continues to adapt to future technologies and offer innovative banking solutions.

To thrive in this digital era, DBS understands the importance of cultivating a new work culture—one that emphasizes speed, agility, and embraces change. By envisioning itself as a 22,000-person startup, the bank is nurturing a mindset that encourages experimentation and risk-taking. This cultural shift is crucial in driving the digital transformation journey forward.

CEO Piyush Gupta has been instrumental in championing digital transformation at DBS. With a top-down approach, he has incorporated digital KPIs into scorecards and encourages a culture of continuous improvement. Gupta recognizes the need for an organizational shift and works diligently to instill this change throughout DBS.

DBS's transformation journey began in 2014, and since then, it has evolved into a technology company that offers financial services. With its focus on hiring more engineers than bankers, DBS has been recognized as the world's best digital bank multiple times by Euromoney. With a solid infrastructure in place, DBS is well-prepared to adapt to future technologies and continue offering innovative banking solutions.

And that brings us to the end of today's episode of "Continuous Improvement," where we explored how DBS, through partnerships, collaboration, and a robust technological foundation, has successfully navigated the evolving financial landscape. Join me next time as we dive into another company's continuous improvement journey.

DBS 案例研究

介紹

DBS正在努力保持在其未來準備數碼轉型的第二階段的相關性。作為一家成立的公司，該銀行面臨來自新興金融科技公司的挑戰。為了適應銀行業由技術進步主導的重大變化，DBS正在對其運營範式進行戰略性的轉變。

面對破壞者

DBS受到新創公司和大型科技公司進入金融科技領域的威脅。破壞性的潛力難以量化，迫使銀行主動參與數碼轉型的第二階段。DBS的首席執行官Piyush Gupta恰當地說：“第二階段更難，因為沒有人知道數碼銀行應該是什麼樣子。”

與合作夥伴的新方法

以前，DBS將其外部關係視為供應商導向，由銀行設定條件。現在，DBS的目標是與合作夥伴緊密合作，以便共同學習和成長。這種合作夥伴關係思維是銀行數碼轉型策略的核心。一個傑出的合作夥伴關係就是與Microsoft的合作，這對DBS的數碼轉型旅程起著至關重要的作用。

專注於合作

重點不僅在於產品，還在於人和流程。DBS和Microsoft都投資於建立強大的合作環境，打破孤島，並相互學習。這樣的合作努力不僅僅是提供服務；他們還注重人性方面，突出了良好的合作夥伴關係對成功至關重要。

擴大視野

DBS 積極在像印度尼西亞和印度這樣的新市場尋求合作夥伴。在新加坡推出了樓宇和電力市場，與現有的參與者合作，避免重複努力。通過這些創新的合作關係，DBS持續在其數碼轉型的旅程中取得進步。

建立基礎

DBS清楚地知道，其未來必須建立在堅實的技術基礎上。在第一階段對基本IT基礎設施進行了大量投資後，該銀行現在已經準備好用穩定的平台加快市場進入的步伐。除了單純的數位化，該銀行正在重新設計其後端系統，以實現真正的數碼轉型。

擁抱新的工作文化

DBS把自己視為一個擁有22,000人的新創公司，培養一種強調速度和靈活性的文化。未來的勞動力將更加關注靈活和敏捷的做法，衡量標準將超越傳統的財務措施，包括推動數碼轉型的指標。

領導與策略

CEO Piyush Gupta通過自上而下的方式推動數碼轉型。他在評分卡中加入了數碼KPI，並鼓勵實驗和冒險的文化。Gupta明白需要改變組織文化，並努力在DBS中灌輸這種變化。

為未來做好準備

DBS從2014年開始其數碼轉型之旅，逐漸演變為一家提供金融服務的技術公司。它已將重點轉向雇用更多的工程師而不是銀行家，並已多次被Euromoney評為全球最佳數碼銀行。有了其堅實的基礎設施，DBS已做好充分準備，能夠適應未來的技術，並繼續提供創新的銀行解決方案。

通過採取合作夥伴關係的思維，專注於合作，並建立堅實的科技基礎，DBS正在為未來做好堅實的準備。他們從傳統的銀行轉變為由技術推動的金融機構，這體現了如何在快速變化的環境中適應和繁榮。

Healthcare in the Future - A Glimpse into the Year 2060

Imagine you're a scientist with the ability to time-travel to the year 2060—37 years into the future. You take a trip into one possible future and witness a fictitious dialogue between a doctor and a patient in the Singapore healthcare system.

Doctor: "Alamak, Uncle Tan! You look more radiant than usual today. How are you feeling?"

Patient: "Aiya, Doctor, you know lah, I'm feeling much better. I've heard that the healthcare system in Singapore is now one of the most advanced in the world. It provides high-quality, affordable healthcare not only to Singaporean citizens but also to people around the globe. Is it true that the system maintains high-quality care while expanding globally and reducing costs?"

Doctor: "Eh, Uncle Tan, of course, it's true lah! The government has continued to invest heavily in healthcare infrastructure, research, and education. This has resulted in a highly skilled and competent workforce of healthcare professionals. We have the most impressive healthcare system in the world!"

Patient: "Wah, really ah? That's a major breakthrough. Can you tell me more about the global expansion?"

Doctor: "Certainly. Singapore has established a reputation as a global leader in healthcare innovation and remote medical delivery. This success is due to continued investment in healthcare infrastructure, education, and research. We have a highly skilled and experienced workforce capable of delivering world-class care at lower costs. Additionally, the country has forged strong partnerships with other nations, providing consulting services and sharing expertise to develop healthcare systems around the world."

Patient: "That's truly amazing. I'm concerned about accessibility and affordability though. Is healthcare expensive here?"

Doctor: "Don't worry lah, Uncle Tan. Healthcare costs less than a cup of kopi-o here. Advances in technology, such as artificial intelligence, robotics, and telemedicine, have streamlined processes and improved efficiency. This allows healthcare providers to deliver high-quality care at lower costs. Additionally, advancements in medical research have led to the development of new treatments and medications that are more affordable and accessible."

Patient: "Oh my gosh! I like the sound of that! Can everyone benefit from these advancements?"

Doctor: "Absolutely. Singapore has embraced a more patient-centered approach, shifting towards a preventative and holistic healthcare model with a greater emphasis on promoting healthy lifestyles. This approach is likely to improve patient outcomes, increase patient satisfaction, and reduce healthcare costs over time."

Patient: "It sounds like healthcare in Singapore in 2060 is very promising. I'm glad I can benefit from these advancements today and perhaps even live to celebrate my 100th birthday."

Doctor: "Absolutely, Mr. Tan. Our goal is to provide the best possible care to all our patients. Singapore's best-case healthcare scenario for 2060—characterized by advanced technology, personalized care, a focus on prevention, and a high level of accessibility and affordability—bodes well for patients worldwide. Remember, the key is to stay healthy and happy at a low cost. Jia you!"

Healthcare in the Future - A Glimpse into the Year 2060

Welcome, everyone, to another episode of "Continuous Improvement." I'm your host, Victor, and today we're taking a journey into the future. Imagine with me for a moment that you have the ability to time-travel to the year 2060, to witness a conversation between a doctor and a patient in the Singapore healthcare system.

Doctor, Uncle Tan mentioned that the healthcare system in Singapore is now one of the most advanced in the world. Can you confirm that the system maintains high-quality care while expanding globally and reducing costs?

Doctor: Absolutely, Victor! The Singapore healthcare system has made tremendous advancements over the years. The government has invested heavily in infrastructure, research, and education, resulting in a highly skilled workforce of healthcare professionals. We can proudly say that our healthcare system provides high-quality, affordable care to not only Singaporeans but also people around the globe.

That's incredible! Can you tell us more about the global expansion of the Singapore healthcare system?

Doctor: Certainly, Victor. Singapore has established itself as a global leader in healthcare innovation and remote medical delivery. By investing in infrastructure, education, and research, we have built a highly skilled workforce capable of delivering world-class care at lower costs. We actively collaborate with other nations, providing consulting services and sharing our expertise to develop healthcare systems worldwide.

It's fascinating to hear about Singapore's global impact in healthcare. Now, let's talk about accessibility and affordability. Is healthcare expensive in Singapore?

Doctor: Not at all, Victor. Thanks to advancements in technology like artificial intelligence and robotics, alongside telemedicine, we've streamlined processes and improved efficiency. This enables us to provide high-quality care at significantly lower costs. Furthermore, medical research has paved the way for more affordable and accessible treatments and medications.

That's excellent news! But is everyone able to benefit from these advancements in healthcare?

Doctor: Absolutely, Victor. Singapore has embraced a patient-centered approach, focusing on preventative and holistic healthcare. We place a greater emphasis on promoting healthy lifestyles, which has the potential to significantly improve patient outcomes, increase satisfaction, and reduce healthcare costs in the long run. It's a win-win situation for everyone.

It certainly sounds like healthcare in Singapore in 2060 is very promising. I'm sure Uncle Tan is excited to be part of this healthcare future.

Doctor: Indeed, Victor! Our goal is to provide the best possible care to all our patients. Singapore's healthcare scenario for 2060, characterized by advanced technology, personalized care, a focus on prevention, and high accessibility and affordability, shows great potential for patients worldwide. Remember, the key is to stay healthy and happy at a low cost.

Absolutely, Doctor. Thank you for sharing this exciting vision of healthcare in the future. I'm sure our listeners are as inspired as I am.

And that's all the time we have for today's episode of "Continuous Improvement." Thank you for tuning in and joining our journey into the future of healthcare. If you enjoyed this podcast, don't forget to subscribe and leave us a review. Until next time, stay curious and keep improving!

未來的醫療保健 - 瞥見2060年的景象

想像你是一位有能力穿越時間到2060年的科學家——這是37年後的未來。你走進了一個可能的未來，見證了在新加坡醫療系統中一位醫生和病人之間的虛構對話。

醫生："天啊，陳叔叔！你今天看起來比平常更有活力。你感覺如何?"

病人： "哎呀，醫生，你知道我現在感覺好多了。我聽說新加坡的醫療系統現在是全球最先進的之一。它不僅為新加坡公民，還為全球人民提供高質量，負擔得起的醫療保健。系統能讓我們在成本下降的同時保持高品質的護理並擴展全球業務，這是真的嗎?"

醫生： "嗯，陳叔叔，當然是真的啦！政府一直在醫療基礎設施，研究和教育上投入大量資金。這產生了一支技術嫻熟，能力強大的醫療保健專業人員。我們擁有全世界最卓越的醫療系統！"

病人： "哇，真的嗎? 這是重大突破。你能跟我說更多關於全球擴張的事嗎?"

醫生： "當然可以。新加坡建立了作為全球醫療創新和遠程醫療提供者的領導者的聲譽。這種成功是由於對醫療基礎設施，教育和研究的持續投資。我們擁有一支技術精湛，經驗豐富的工作人員，能夠以低廉的成本提供世界級的護理。此外，該國與其他國家建立了強大的合作關係，提供咨詢服務並分享專業知識，以發展全球的醫療保健系統."

病人： "這真是讓人驚歎。我對可及性和可負擔性有些擔憂。這裡的醫療保健費用貴嗎?"

醫生： "不用擔心，陳叔叔。這裡的醫療保健費用比一杯咖啡還要少。技術的進步，如人工智能，機器人和遠程醫療，使過程變得更為精簡，效率也提高了。這讓醫療提供者能夠以較低的成本提供高質量的護理。另外，醫療研究的進步帶來了新的治療方法和藥物，這些都更具可負擔性和可獲得性。"

病人： "天啊！我喜歡這聽起來的樣子！每個人都能從這些進步中受益嗎?"

醫生： "當然。新加坡已經接受了更以病人為中心的方法，向以預防和全人關懷的醫療模式轉變，並更加重視推廣健康的生活方式。這種方法可能會改善病人的結果，提高病人的滿意度，並隨著時間的推移降低醫療費用。

病人： "聽起來新加坡在2060年的醫療保健非常有希望。我很高興我今天就可以從這些進步中受益，也許甚至可以活到100歲生日。"

醫生： "當然，陳先生。我們的目標是為所有病人提供最佳的護理。新加坡對2060年最佳的醫療保健情況的設想 - 包括先進的技術，個性化的護理，預防為主，高度的可及性和可負擔性 - 對全球病人都是一個好消息。記住，關鍵是以最低的成本保持健康和快樂。加油！"

Thinking About the Future with ChatGPT

Recently, I've been pondering the future of work in the context of ChatGPT and Artificial Intelligence (AI). The concept is ever-changing due to technological advancements and societal shifts, continuously reshaping our work landscape. The COVID-19 pandemic has accelerated some trends, like automation, while introducing new challenges that compel us to reconsider how we'll work in the future.

There's speculation that ChatGPT could replace jobs, especially white-collar roles like lawyers, doctors, and accountants. This technology has made waves in the business world, rapidly reaching the peak of the hype cycle. Experts suggest that ChatGPT and other forms of generative AI could pose threats to various professions.

A 2013 University of Oxford study predicted that 47% of US jobs could be automated by AI. ChatGPT has the potential to replace entry-level coders and has already been employed to write cover letters, children's books, and student essays. Jobs in media, such as content creation, technical writing, and journalism, are also increasingly vulnerable to AI technologies.

Traditionally, white-collar jobs have relied on human skills to analyze and interpret vast amounts of linguistic data. Generative AI can now undertake these tasks, capable of not just reading and writing but also understanding human languages. These capabilities have been propelled by advances in AI algorithms, the availability of large data sets, and cloud computing technology.

However, human productivity could see substantial gains if AI is used as a complement to human labor rather than as a total replacement. For instance, it's unlikely that AI would entirely automate the legal industry, which still requires a degree of human judgment. Similarly, while chatbots have begun to replace some customer service roles, many customers still prefer the human touch to robotic interactions.

The future where ChatGPT can perform tasks like reporting and writing more efficiently than humans is promising. This efficiency would free people to address more complex problems requiring human judgment.

Since Google's founding in 1998, automation and AI have been transformative forces across many industries, a trend likely to continue. Jobs involving repetitive tasks or requiring low-level skills are most at risk for automation, while roles demanding critical thinking, creativity, and emotional intelligence will become more valuable. Workers who adapt and acquire new skills will be better positioned to thrive in this evolving job market.

Thinking about the future of work with ChatGPT serves as a form of planning and forecasting. It involves entertaining multiple possibilities, challenging our assumptions, and weighing the potential outcomes of various choices. This skill is increasingly vital in our rapidly changing world and can be beneficial for career advancement and community engagement.

Future thinking with ChatGPT helps individuals and organizations anticipate trends and adapt to change. By identifying potential challenges and opportunities, we can formulate proactive strategies to navigate the shifts effectively.

Considering multiple possible future scenarios allows us to make informed decisions aligned with our values and long-term goals. It also fosters community dialogue, creating a shared vision for the future and exploring diverse possibilities. Keeping an eye on new trends in AI can reveal emerging opportunities for both career development and community involvement.

In summary, contemplating the future of work with ChatGPT suggests that AI could serve as a valuable tool for both professional and personal growth. While AI may replace certain jobs, it could also create new opportunities in fields requiring human creativity and judgment.

Thinking About the Future with ChatGPT

Welcome back to "Continuous Improvement," the podcast where we explore the ever-changing landscape of work and personal growth. I'm your host, Victor, and today we're diving into the fascinating topic of the future of work with ChatGPT and Artificial Intelligence.

In our rapidly evolving world, it's crucial to stay ahead of the curve and understand how technological advancements like ChatGPT are reshaping our work landscape. With the COVID-19 pandemic further accelerating these changes, it's become even more vital to ponder the future possibilities.

Many experts speculate that ChatGPT could replace various professions, especially those in white-collar industries like law, medicine, and accounting. This technology has made significant waves, rapidly climbing to the peak of the hype cycle.

A University of Oxford study from 2013 predicted that nearly half of all US jobs could be automated by AI. We're already witnessing ChatGPT being employed to write cover letters, children's books, and even student essays. It's not only entry-level coding roles that are at risk, but jobs in media and content creation as well.

Generative AI has the power to undertake tasks traditionally relying on human skills to analyze and interpret linguistic data. With advances in AI algorithms, large datasets, and cloud computing technology, ChatGPT can now effectively read, write, and understand human languages.

However, it's important to remember that AI can be a complement to human labor, rather than a complete replacement. While there may be concerns about jobs being replaced, the fusion of human and AI intelligence offers tremendous potential for increased productivity and tackling complex problems that require human judgment.

For example, the legal industry, which heavily relies on human judgment, is unlikely to be entirely automated by AI. Similarly, while chatbots have started to replace some customer service roles, there's still a preference for human interactions in many cases.

Looking to the future, a world where ChatGPT efficiently performs tasks like reporting and writing is promising. This efficiency would free up human workers to focus on more complex challenges, utilizing their critical thinking, creativity, and emotional intelligence.

Since Google's inception in 1998, automation and AI have revolutionized countless industries, and this trend shows no signs of slowing down. Repetitive and low-level tasks are most at risk of being automated, while roles that require critical thinking and human-centric skills will become increasingly valuable.

To thrive in this evolving job market, it's crucial for workers to adapt and acquire new skills. Thinking about the future of work with ChatGPT helps us hone our planning and forecasting abilities, challenging assumptions, and identifying potential outcomes and opportunities.

Our ability to anticipate trends and adapt to change is vital both for personal career advancement and community engagement. By exploring diverse future scenarios and engaging in dialogue, we can make informed decisions and create shared visions for a better future.

So, as we wrap up today's episode, remember to stay curious, be proactive, and continuously seek opportunities to grow in this ever-changing world. The future of work with ChatGPT and AI holds great potential, and by embracing it, we can strive for continuous improvement.

Thank you for joining me on this episode of "Continuous Improvement." If you enjoyed this discussion and want to stay updated on the latest trends and insights, make sure to tune in for our next episode. Until then, keep striving for excellence in your personal and professional journey.

與ChatGPT一起思考未來

最近，我一直在思考ChatGPT和人工智能（AI）在工作未來中的角色。由於技術進步和社會變遷，這個概念總是在不斷變化，持續改變我們的工作景觀。COVID-19大流行加速了一些趨勢，如自動化，同時引入新的挑戰，促使我們重新考慮我們將來如何工作。

有人猜測ChatGPT可能會取代工作，特別是像律師、醫生和會計師這樣的白領職位。這項技術在商界引起了波瀾，迅速達到了炒作周期的高峰。專家們認為ChatGPT和其他形式的生成AI可能對各種行業產生威脅。

2013年牛津大學的一項研究預測，47％的美國工作可能會被AI自動化。ChatGPT有潛力取代初級編碼員，並已經被用來寫求職信、兒童書籍和學生論文。媒體的工作，如內容創建、技術寫作和新聞記者，也越來越容易受到AI技術的影響。

傳統上，白領工作依賴於人類技能來分析和解釋大量的語言數據。生成AI現在可以執行這些任務，不僅能夠閱讀和寫作，還能理解人類語言。這些能力得益於AI算法的進步、大數據的可用性和雲計算技術的發展。

然而，如果AI被用作人力勞動的補充，而不是完全替代，人類的生產力可能會有很大的提高。例如，AI不太可能完全自動化法律行業，這仍然需要一定程度的人為判斷。同樣，雖然聊天機器人已經開始取代一部分客戶服務角色，但許多客戶仍然更喜歡人類的接觸，而不是機器人的互動。

ChatGPT能比人更有效地執行報告和寫作的未來讓人充滿期待。這種效率能讓人們有時間去處理需要人類判斷的更加複雜的問題。

自Google於1998年成立以來，自動化和AI已成為許多行業內變革的力量，這種趨勢可能會繼續下去。涉及重複任務或需要低級技能的工作最容易被自動化，而需要批評性思考、創造力和情感智慧的角色將變得更有價值。適應並獲得新技能的工人將在這個不斷變化的就業市場中獲得更好的生存條件。

與ChatGPT一起思考工作的未來是一種規劃和預測的方式。這涉及到考慮多種可能性，挑戰我們的假設，並衡量各種選擇的可能結果。這種技能在我們快速變化的世界中越來越重要，對於職業晉升和社區參與都非常有益。

與ChatGPT一起思考未來幫助個人和組織預見趨勢並適應變化。通過識別可能的挑戰和機會，我們可以制定主動的策略，有效地應對變化。

考慮多種可能的未來情景讓我們能做出與我們的價值觀和長期目標一致的明智決定。它還促進了社區對話，創造了對未來的共享願景，並探討了多元的可能性。關注AI的新趨勢可以揭示出在職業發展和社區參與方面的新機遇。

總的來說，與ChatGPT一起思考工作的未來顯示，AI可以作為職業和個人發展的有價值的工具。雖然AI可能取代某些工作，但它也可以在需要人類創造力和判斷力的領域創造新的機會。

The Ongoing Revolution in Technology and Its Impact on Work

Today, while attending a class for my Master's in Technology in Digital Leadership at the National University of Singapore (NUS), my professor offered a prediction about technology's landscape a decade from now. This prompted me to reflect on the future of work. How will work evolve, and how can we prepare to stay relevant? What impact will this have on society, and should we be concerned about the advance of technologies like artificial intelligence?

I believe there's no need for concern if we shift our focus from technology to the customer. Although technology keeps evolving, customer needs remain constant. Tools and equipment may change, but fundamental human demands persist. Business models evolve, yet the core purpose of business remains unchanged. Despite the advances associated with Industry 4.0, we are still struggling to provide optimal customer experiences.

A decade ago, phone banking was incredibly frustrating. I had a simple question, called the customer service line, and got a recorded menu instead of a human response. Even today, the frustration persists with advanced technologies like chatbots, which often fail to understand straightforward queries while human operators remain unreachable.

Banks invest heavily in digital transformation, but they also waste a lot. They spend hours posting on social media to engage customers, who forget about these interactions within minutes. They create subscription models that customers rarely revisit. They generate digital documents, emails, and files that often get lost in the cloud rather than serving the customer effectively.

We have reached a point where technology is advanced and user-friendly enough to be effectively integrated to better serve our customers. This is not just about productivity; it's also about meaningful customer engagement. If banks don't continually improve the customer experience, they will remain stuck in mediocrity, regardless of their innovative financial products.

Digital transformation is not just about technology; it's primarily about the customer. While technology plays a role, the real transformation lies in serving customer needs more effectively through improved operations, mass customization, and new offers.

Contrary to popular belief, ATMs didn't eliminate bank teller jobs. No technology can transform an industry unless it is linked to an emerging market through a viable business model. Interestingly, the technology driving digital companies' explosive growth often isn't even that sophisticated. For impactful changes, all you need is a system that can perform tasks traditionally handled by humans more efficiently.

From a societal perspective, investment in new technology, equipment, and software is crucial for economic growth. An ongoing technological revolution will enable the economy to produce goods and services more efficiently. Simply put, the better the technological innovations we have, the more output we can generate compared to older systems.

Human productivity is the driving force behind the increase in global wealth, power, and living standards over time. Productivity, defined as output per person and driven by advances in technology, has steadily improved over the years.

In the banking industry where I work, technology will continue to be a driving force behind economic growth in the fourth industrial revolution. The financial market is highly competitive, with rapid technological adoption by competitors. Our ability to compete effectively hinges on the timely introduction of innovative products, services, and technologies.

In summary, we should focus on how both customers and society benefit from the continuous revolution in technology. We need to become better at recognizing the true value of new technologies, master their use, and surpass our competitors by offering a superior customer experience, all while boosting our productivity.