DBS launches enhanced generative AI programme to fast-track SME adoption

[SINGAPORE] DBS launched an enhanced generative artificial intelligence (AI) programme on Friday (Apr 24) to fast-track AI adoption among small and medium-sized enterprises (SMEs).

The enhanced Spark GenAI programme aims to accelerate SMEs’ AI transformation efforts, in line with the national push for AI adoption and business transformation.

The lender said the initiative will take a more structured approach to implementation than its previous version, with the enhanced programme incorporating a three-tier approach that provides guidance tailored to different levels of maturity and business readiness.

In addition, the bank will provide group-based consultancy services with customised solutions, along with one-to-one advisory support and tailored back-end integration.

The original programme provided only digital advisory guidance, curated AI training and access to off-the-shelf solutions.

DBS’ Business Pulse Check Survey, which polled representatives of 730 companies, found that two in five SMEs are seeking expert advice on how to meaningfully integrate AI into their business operations.

In a statement, DBS group head of corporate and SME banking Chen Ze Ling said: “This is why we have enhanced our Spark GenAI programme – to reduce the friction around adoption, accelerate implementation and support businesses as they build capabilities that can future-proof them.”

To further support implementation, businesses can also leverage DBS’ suite of financial solutions, such as its cyber protection coverage, which enables companies to invest in AI adoption while providing a safeguard against cyber threats.

The lender will also organise quarterly engagements on AI trends, insights and industry-focused case studies to help businesses keep abreast of developments.

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In an interview with The Business Times, DBS said that more than 380 companies have joined the programme since its launch.

The programme is being rolled out in partnership with Enterprise Singapore (EnterpriseSG) and the Infocomm Media Development Authority (IMDA).

Participating SMEs will have access to its Open Innovation Platform (OIP), which connects them to a global network of more than 16,000 solutions providers.

Johnson Poh, assistant chief executive of the enterprise transformation and innovation group at IMDA, said: “AI is fast becoming a key driver of business competitiveness, and it is important that our SMEs are well-equipped to harness its potential.”

AI playbook

The lender has also launched the SME AI Playbook, which includes a readiness diagnostic tool designed to support independent learning and covers seven key industries in Singapore, ranging from retail to trading.

Developed with knowledge partner KPMG and supported by SkillsFuture Singapore (SSG) under the banner of the SME AI Skills Launchpad, the playbook aims to equip businesses with the capabilities to adopt AI in a practical, scalable way.

It compiles practical use cases, real success stories, frequently asked questions and a readiness diagnostic tool to guide companies in implementing AI, while also “supporting the workforce to develop the skills needed to adopt and apply AI effectively”.

Chen said the playbook enables business leaders to break down “what can seem like a complex transformation process into incremental steps”.

“In doing so, it empowers businesses to assess where they stand, learn at their own pace and identify the next step that makes the most sense for them,” he added.