AI GUIDE FOR BOARDS IN SINGAPORE
Section I: The Board Mandate
2.2 Industry-Specific Perspective
• Education: rough tools like ChatGPT Edu, institutions like National University of Singapore are responsibly deploying AI across teaching, research, and campus administration to meet diverse academic needs. • Technology: AI becomes both the product and the driver of execution. Grab utilised AI for GrabMaps to improve mapping accuracy, and increased baseline accuracy from 67 to 80 per cent, signi cantly reducing manual operations. • Small and medium-sized rms: AI is not just for large enterprises. Descript integrated AI-powered product
AI use cases are o en best understood through industry-speci c problems.
• Financial services: AI is being utilised for high-stakes knowledge retrieval and research support. Morgan Stanley reported that over 98 per cent of its adviser teams use an internal AI assistant to access institutional knowledge, directly strengthening client-facing interactions. • Banking: AI is becoming an enterprise- wide capability rather than a narrow pilot. BBVA collaborated with OpenAI to deploy ChatGPT Enterprise to 100,000 employees globally, embedding AI into the bank’s fundamental operating model. • Retail and consumer businesses: e focus here is on scale and guest experience. Target uses AI for personalised recommendations and easier product discovery, showing how AI can drive value both internally and for the end consumer. • Healthcare and life sciences: AI helps scale high-quality care and reduce the administrative burden that o en plagues the sector. is is critical for boards focused on maintaining service quality and operational consistency.
capabilities, resulting in a 15 per cent increase in exports and a dramatic improvement in duration adherence.
Boards should assess how AI may a ect the fundamental workows, economics and competitive dynamics within their respective sectors.
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