This category aims to award the technology program or project which has enabled discernible and measurable excellence in the organization’s ability to treat data and information as critical assets. Leaders in this category invest in a range of technology and people to distill insight into monetary value, mastering syntax, semantics, and socialization. These organizations focus on extracting and developing the value and utility of information relative to customers, markets, transactions, services, products, physical assets, and business experiences. They often invest in the establishment of organizational competencies focused on leveraging data for improved decision making, collaboration, competitive advantage, and ultimately, data monetization. Their leading KPI is the percentage of revenue generated from information-based products, experiences, and services. There are 4 major areas where these companies thrive:
To adapt to the evolving nature of the digital economy, this category is now known as Best in Future of Intelligence.
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|Smart Advisor on the Krungsri Mobile App is an advanced artificial-intelligence-based (AI-based) feature that assists clients in achieving financial wellness. Through a series of questions, Smart Advisor analyzes the customer's investment goals to build an investment portfolio based on the customer's risk level — from conservative to aggressive — in proportion to given criteria. Krungsri developed an application programming interface (API) to calculate asset allocation based on the Black-Litterman Model. Smart Advisor uses both artificial and human intelligence, and was fully developed using the framework of DevOps and microservice architecture. The bank has also partnered with fintechs to provide a full range of services for investments, and through the Smart Advisor, it offers advisory services, asset allocation, online transactions, investment tracking, comparison of existing portfolio against recommendations, instant notifications, and mutual fund account opening. Smart Advisor is an effective low-cost advisor on the Krungsri mobile app, which is the first one-stop service mobile banking application in Thailand's financial industry. At the end of 2018, the subscription volume of mutual funds via this mobile channel was THB 13,000 million, representing growth close to 300%.|
|In 2016, Siam Commercial Bank (SCB), Thailand's largest commercial bank, embarked on its multi-year transformation journey to strengthen its competitive edge, with data-driven transformation as one of its primary objectives. Leveraging best-in-class data and analytics capabilities to enhance customer experience, SCB launched the Business Intelligence (BI) Transformation program, which comprehensively addresses technology, organization, people, and change management. The BI Transformation program features a new data and analytics operating model, as well as a Hadoop-based data lake, data visualization and virtualization tool, and data lab for data science modeling. More importantly, the bank has addressed change management with a series of programs targeted at driving user adoption. To scale, SCB migrated its on-premise data lake to cloud, while a model management tool was also implemented for analytical models management. To support this initiative, SCB has grown a strong pool of data engineers and scientists, as its new data lake manages data up to 61% more efficiently. Overall, SCB's BI Transformation program has lowered total cost of ownership (TCO), promoted data sharing and usage in a governed environment, and improved use of data science and machine learning to drive the bank's desired business outcomes.|
|CTBC Bank is the first bank in Taiwan to issue credit cards and set up a customer service center. As one of the largest privately owned banks in the country, it owns more than 1,000 seats for both inbound customer service and outbound telemarketing business. Generating around 700,000 calls with more than 50,000 hours of voice records on a monthly basis, CTBC Bank was plagued with fragmented and low-quality inspections and manual processes. Upon realizing that the speech records hold vast amounts of customer data, it pioneered the development of the Intelligent Speech Processing Platform (ISPP). The ISPP is a part of CTBC Bank’s business strategy and is a core platform service focusing on the resolution of speech data in terms of processing and analysis. Established in 2018, the ISPP contains comprehensive technologies, including automatic speech recognition, speech to text, natural language processing, machine learning, and deep learning algorithms. Its goal is to integrate scattered technologies and design a scalable platform to fulfill business needs, such as intelligent speech inspection and customer insight analysis. With the ISPP in place, CTCB Bank improved speech quality inspection coverage to 100% and reduced holding time for incoming calls by 10%.|
|Perpetrators of counterfeit medicine and gray market trading are getting more sophisticated and prevalent, with 10% to 30% of medicines in low- to middle-income countries found to be falsified or substandard. In the past, tracking down such products was a manual process involving multiple stakeholders across the supply chain and could take up to weeks. Zuellig Pharma, one of Asia’s largest healthcare services providers, has developed the mobile app–based solution eZTracker, which harnesses the power of blockchain technology to address counterfeit products, cross-border trading, and product recalls. The app empowers anyone with a mobile phone — from patients to healthcare professionals or regulators — to trace medicine to its manufacturer and country of origin within seconds. This user-friendly solution is backed by a robust infrastructure, with the chain code and distributed ledger built on Hyperledger, whereas the smart contract layer and design cater to the different information requirements of each player in the supply chain. A massive parallel processing database engine powers the ability for downstream end users to scan the barcodes of medicine products through eZTracker. Unregistered products detected will trigger automatic alerts to notify manufacturers and Zuellig Pharma on where the supply chain was breached.|
|The UOB enterprise data strategy and analytics transformation program under the Data Management Office (DMO) aims to drive the adoption and ongoing use of data and analytics across the bank for smarter, faster, and more accurate decision making. This is done through a holistic approach that focuses on people, process, technology, and data. As part of the program, UOB set up the BDAC as a center of excellence to deepen the organization’s data analytics capabilities and provide effective business intelligence solutions for business functions across the bank. UOB also brought together people with expertise in areas such as analytics, technology, finance, and risk to form a multidisciplinary agile team that focuses on delivering data and analytics solutions for the organization. In addition, the bank has been equipping leaders in key markets, including China, Indonesia, Malaysia, and Thailand, with the knowledge and skills to develop local data strategies and gain local insights through the use of self-service business intelligence tools.|
|Procter and Gamble (P&G) is one of the fastest growing fast-moving consumer goods companies in Asia/Pacific. P&G has been at the forefront of leveraging digital for disrupting brands and go to market in Asia/Pacific, Middle East, and Africa. It has invested millions of dollars in its digital innovation center in Singapore in partnership with the Singapore Economic Development Board (EDB). In addition, P&G has also established its own incubation program as well as technology event ONward, partnering with industry partners and start-ups to solve key business challenges in P&G through internet of things (IoT), AI, blockchain, cloud, robotics, and others. Its end-to-end data strategy disruption has been in consumer, customers, and supply chain, using such technologies as cloud, big data, IoT, and data science to fuel growth and develop new models. The data strategy encompasses holistic end-to-end planning and information-driven models and algorithms that help accelerate growth and maintain its market leadership position. The use of a unified market and category data strategy has driven a step change in organizational productivity and faster accessibility to insights. A modern in-house datacenter of excellence has been established, with modern cloud architecture and P&G’s big data lake in Asia/Pacific. This was complimented with predictive models and extreme data science and engineering organization. The intervention has helped change organization productivity and driven the agility of insights from a monthly to daily cycle while democratizing data access for employees and monetizing insights with P&G growth, share leadership, best reach, and productivity.|
|Since 2017, PRiSM is the first to implement a nationwide satellite imaging and information and communications technology‒based rice monitoring system in Southeast Asia. PRiSM generates digital rice-planted area maps from time-series earth images using remote sensing technology. It also extracts information, such as rice area planted, planting dates, and extent of rice fields affected by flood and drought using digital cartography. Rice yield estimates are produced from digital information derived from processed satellite images, ground data collected using mobile technology applications, and crop growth simulation models. With this, PRiSM supports the Philippine Department of Agriculture (DA) in strategic planning, decision-making, development project implementation, and disaster preparedness through the provision of near real-time information. Digital technologies, such as earth observation satellites, communication systems, computer application programs, and electronic sensors, are used by PRiSM during the process. Through this initiative, the system helps DA fulfill its vision of a technology-based agriculture that will empower the farming communities to produce adequate, accessible, and affordable food for every Filipino.|
|As a government agency, the Malaysian Aviation Commission (MAVCOM) must respond to the growing needs of the public. Committed to its cause of serving the Malaysian people, it is the first ASEAN regulator to introduce a complaints management system. Before the introduction of the CMS, complaints were registered and tracked in a manual spreadsheet. Available on MAVCOM’s website and integrated in a mobile application, the Centralized Maintenance System (CMS) serves as a convenient channel for consumers to register their complaints on services rendered by airlines or airports in Malaysia. With the goal of improving operating efficiencies and complaint resolution time, the CMS organizes data and allows MAVCOM to systematically analyze noncompliance matters. With millions of passengers going in and out of airlines and airports, the system acts a strategic tool that records and tracks trends and performance. In 2018, out of more than 1,600 complaints received, 94% of these were resolved within 30 days. All in all, the CMS has reengineered the complaints treatment process by cohesively engaging with the relevant parties to adhere to regulatory standards and deliver a seamless customer experience.|
|Acknowledging the role of data-driven curation as a key driver for customer retention and continued business growth, Shihan Bank set to revamp its infrastructure to gain a better understanding of internal and external data points. Led by Shihan Bank’s big data center, it created a visualization analysis tool that allowed employees, from project owners to decision makers, to access meaningful, value-adding insights from data to generate new ideas to address issues on customer service, product and service development, sales, and risk management. For data storage and analysis, the bank employed a metadata referencing system and subject-based data market, respectively. Aside from its dashboard and custom reports, the platform became an integral part of transforming Shihan Bank’s work culture from a traditional system to a real-time and data-directed collaborative environment. As a result, report generation time was cut by 83%, multidimensional reports were produced, and the average time spent on creating analysis reports was shortened from one month to one week. By going beyond intuitive understanding, the system gave an in-depth profile of target customers and suggested alternatives to be developed as action plans. As of May 2019, 14 business groups composed of 121 employees are actively using this platform, with the number projected to increase in the months to come.|
|Considering the inefficiencies brought about by the underwriting process, Kyobo Life Insurance launched a real-time AI underwriting system aimed to improve underwriters’ working system and augment client satisfaction. The Best Analysis and Rapid Outcome (BARO) AI is the world’s first AI underwriting system product and transforms human work and covers all insurance products. Kyobo Life Insurance systemized its underwriters’ thinking process and designed models that reflected the factors that underwriters would consider in assessing applications. Inquiries are comprehended via natural language processing, which includes named entity recognition, taxonomy, user dictionaries, keywords, and various preprocessing techniques. By producing instant results, which were then evaluated by underwriters, sales consultants can accelerate and increase their sales. BARO supports its insurance product decision making through the inclusion of five key references, which sales teams can check easily so they can focus on customer service. Receiving over 400,000 inquiries in just two years, BARO has been responsible for resolving 52% of these, significantly reducing the workload of underwriters. With BARO, reviews of applications that normally took four to eight weeks were significantly shortened, with 56% of applications being approved right away based on BARO's guidelines.|
|FinAccel's focus is to increase financial inclusion across the ASEAN region by providing access to credit in an affordable and convenient manner. Through a proprietary, industry-leading risk management system that leverages data and technology, FinAccel can automate key operational tasks and manage risk over the customer life cycle, achieving bank-level risk metrics and highly efficient operations. The proprietary verification and credit-scoring technology impacts the customer onboarding experience, which FinAccel considers as one of the most important journeys in a customer’s interaction with its product Kredivo, as well as a key determinant of the sustainability of the organization's business model. Through its payment method, Kredivo, FinAccel is then able to offer an instant and unique two-click checkout system that simplifies the process for consumers and reduces cart abandonment rate, becoming a real-time transaction enabler for Kredivo’s ecommerce partners. Through deep integration with its ecommerce partners and fraud detection technology, Kredivo can offer customers the ease of making online purchases without having to log in to their Kredivo account and input a one-time password.|
|Cairn Oil & Gas is the largest oil and gas exploration and production company in India, accounting for more than a quarter of the country’s domestic crude oil production. With the objective of transforming data as a source of key competitive advantage, it rolled out the Exception-Based Surveillance (EBS). Utilizing existing sensor data, the EBS raises analytics-driven exceptions on systems that need urgent and proactive attention and converts these insights into actionable items. Designed with a built-in intelligent event processing engine to constantly watch over plant and field operations to rapidly access and analyze situations, it triggers alarms and alerts when an incident occurs. Beyond providing information in real time, the system also stores key data points for future reference, assists in the identification of root causes of exceptions, and provides suggestions for remediations. With respect to enhancing employee efficiency, it has helped asset teams to focus on areas that need attention rather than routine. Overall, the EBS has reduced downtime in all aspects, increased equipment life, improved safety standards, reduced operational costs, and improved focus on the remediation of the exceptions.|
|China CITIC Bank International (CNCBI) launched its flagship mobile banking platform, inMotion, in March 2018. Riding on the power of AI, inMotion allows customers to open an account remotely in as little as 15 minutes anytime, anywhere without the need for a branch visit, address proof, or signature, breaking new ground in banking in Hong Kong. In February 2019, CNCBI in Hong Kong launched the city’s first truly virtual credit card, the “Motion Virtual Credit Card,” in addition to full-function securities trading service “inVest” and life insurance purchase services. This expanding service portfolio provides customers a comprehensive virtual banking experience. With a view to becoming an innovative trendsetting brand in the industry, CNCBI continues to explore new, innovative services that bring banking to customers’ fingertips.|
|In order to actively respond to the external challenges of internet finance, China Merchants Bank (CMB), the first share-holding commercial bank wholly owned by corporate legal entities in China, accelerated its financial technology transformation. In August 2018, CMB's mobile banking and Handheld Life apps saw more than 60 million monthly active users, requiring the bank to provide higher storage capacities and faster data processing. China Merchants Bank with its ICT partner launched a joint innovation laboratory to develop a distributed relational database suitable for the financial industry. Through this laboratory, China Merchants Bank has successfully developed one of the most innovative, cutting-edge, high-availability, and high-performance distributed databases in the industry, enabling 85 million daily average requests, with its peak transactions per second (TPS) reaching 3,500, allowing the bank to realize its intelligence transformation.|
|Sportsbet is an Australian internet betting and entertainment website that has been established for over 15 years. Within the Tech2020 pillar "Our Platforms, Our Advantage," it set out to create platforms of the future, developing an innovative approach to personalization aimed at improving customer experience. Core to Sportsbet culture is its value of "Customer First & Last" and the organization strives to have teams building exciting experiences for customers. To bring this to life, the 10Zing project was created to improve the Sportsbet customer experience, which involved the establishment of cross-functional delivery teams across data engineering, data science, software engineering, and front-end experience. Marketing, product, and HR teams also formed a core part of the project team, as the organization tried to minimize handoffs and stay focused on iterative customer experience delivery. Creating the best personalization for customers required building a connected system of technology capability, where raw customer data is taken from source systems and processed, analyzed, and modelled to ultimately send relevant and timely decisions to the channels that directly serve the customer. Sportsbet now has the capability and scale to provide active customers a personalized experience, which delivers the right content, at the right time, the right way — which was very different from its previous "one-size-fits-all" model.|
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