Two industry powerhouses to advance development and implementation of AI technologies
Standard Chartered and Alibaba Group have entered into a strategic partnership, utilizing Alibaba Cloud’s AI technologies to accelerate the pace at which the financial services sector embraces Artificial Intelligence (AI).
According to the Memorandum of Understanding, Standard Chartered will work with Alibaba Cloud as its strategic partner for AI technologies to enhance operational efficiency and elevate customer experience.
Leveraging Alibaba Cloud’s intelligent solutions and AI technologies, the collaboration aims to help the Bank elevate its competitive edge. This includes developing AI-powered customer service and sales intelligence to raise the bar on customer engagement, automating AI-driven risk management and compliance, and upskilling its talents through AI workshops and certifications.
Global development
The partnership will also support Alibaba Group’s strategic development globally, with Standard Chartered providing a comprehensive range of banking services that is tailored to meet Alibaba Group’s business needs, from financial support, supply chain financing support, cross border fund management solutions, to deepening the collaboration in financial market.
“By combining Alibaba Group’s technological prowess with our financial expertise, we look to harness the full potential of AI technologies to advance on our innovation agenda while also creating long-term value for our clients, colleagues, and communities,” commented Bill Winters, Group Chief Executive, Standard Chartered.
“Through this strategic alliance, we will combine Alibaba’s technological expertise with Standard Chartered’s deep industry knowledge to unlock new possibilities,” noted Eddie Wu, CEO, Alibaba Group.
