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Artificial Intelligence (Established Enterprises)


IBM Singapore Pte Ltd

The use of tools and technology to improve efficiency has been employed throughout history. Today, the tools of choice are computers and artificial intelligence (AI), which are often used to speed up complex processes that take humans much longer to complete. For Standard Chartered, trade document screening was precisely the type of complex job that required optimising.

Due to the high volume of data and varying formats of trade documents – 36 million pages of trade documents with more than 200 million data elements are scanned by Standard Chartered annually – manual screening can be lengthy and tedious work. Standard Chartered’s goal was to improve its operational efficiency of trade document screening processes by providing quicker turnaround times and better accuracy while keeping costs low. To achieve this, it sought the help of IBM to co-develop an AI-based system.

The solution was Trade AI Engine: an AI and machine-learning platform that automates several processes such as the use of optical character recognition (OCR) technology to convert materials into a digital format within minutes. This tool also features a continuous machine-learning ability that helps the system improve accuracy over time, and natural language processing (NLP) capabilities that picks up context from data in documents without requiring a human to read it.

“IBM and Standard Chartered’s jointly developed AI-based solution allowed the bank to handle high volumes of diverse back office tasks with greater efficiency and accuracy, thus offering a more seamless trade processing experience for their clients.”

— Glen Francis, Chief Technology Officer,
Singapore Press Holdings Limited

As a result, IBM has helped Standard Chartered reduce time spent on this task significantly, and with greater accuracy. Standard Chartered’s clients have enjoyed a more seamless trade processing experience – allowing the bank to meet client demands efficiently while strengthening operational control.

For the innovative and successful implementation of AI solutions, IBM is the proud recipient of the Artificial Intelligence (Established Enterprises) award.