DBS Launches Gen AI-Powered Coaching Tool to Future Proof Its Workforce
- Written by Media Outreach
While most corporations reserve coaching[1] for their top executives or high potential talent, DBS believes that employees at all levels would benefit from coaching by receiving expert advice on career development as well as topical issues such as work-life balance, personal and small team leadership, or mental wellness. However, the main challenge has always been scaling coaching in an efficient and cost-effective manner – coaching is usually done on a one-to-one basis and can be costly.
With the advent of Gen AI, DBS saw an opportunity to leverage the technology to overcome these challenges, enabling the bank to avail coaching to employees across its network.
Lee Yan Hong, Head of Group Human Resources, DBS, said, "As the world of work continues to evolve, building career resilience has become more important than ever. At DBS, we are committed to helping our people thrive by equipping them with future-ready capabilities through our comprehensive Triple E framework – Education, Exposure and Experience. iCoach is a powerful new addition that complements these efforts, leveraging Gen AI to offer personalised, on-demand career guidance to help every employee confidently navigate and grow in the future of work."
Betty Lam, Head of Human Resources, DBS Hong Kong, said, "DBS continues to entrench our standing as a Responsible AI leader and bring our employees along this responsible AI journey where AI is used ethically and effectively. iCoach is a powerful tool that allows our employees to focus on personal and career growth. At the same time, we also encourage our employees to equip themselves with the necessary AI skills, which will be crucial for our collective success."
iCoach's knowledge base was developed in partnership with Marshall Goldsmith, a leading coaching expert with over four decades of experience working with top CEOs and executives, including those from Fortune 500 companies. Dr Goldsmith was inducted by Thinkers50[2] into its Hall of Fame in 2018 and is the only two-time Thinkers50 #1 Leadership Thinker in the World. He was also the inaugural winner of the Lifetime Award for Leadership by the Harvard Institute of Coaching.
iCoach is always-on and available 24/7 to provide employees with just-in-time personalised career guidance. It is tailored to each employee, drawing on the context of the bank's roles, functions and internal mobility pathways to deliver relevant and actionable career advice. Data from International Coaching Federation and Better Up Career Coaching showed 70% of people in organisations who underwent coaching benefitted from improved work performance, relationships and more effective communication skills. 80% of people who received coaching reported increased self-confidence.
iCoach further reinforces the bank's commitment to upskilling its employees and building career resilience, and complements other DBS initiatives including:
- iGrow, an AI / machine learning-powered platform that offers personalised career advice by matching employees to tailored learning and job opportunities based on their career and training history.
- DBS Mentoring Programme, which connects employees with leaders and peers, enabling them to gain practical guidance, career insights and support at critical points in their professional growth.
- DBS Learning Hub, which provides employees with more than 10,000 curated courses, to learn and pick up new skills.
- Be My Guest Programme, where employees have the opportunity to participate in job shadowing, workshops and projects across departments. Last year, over 4,000 such opportunities were taken up by employees.
[2] Thinkers50 is the world's pre-eminent global ranking of management thinkers and has been described by The Financial Times as "the Oscars of management thinking".
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