American Express has announced its commitment to further investing in artificial intelligence (AI) with the expansion of the Singapore Decision Science Center of Excellence (CoE). This expansion will broaden the scope of the CoE, moving beyond credit decisioning and fraud prevention to encompass data science applications in marketing and servicing model development and production, utilising AI and machine learning (ML) technologies. Additionally, the CoE will establish a generative AI Research & Development practice, specifically focusing on new AI applications for risk, servicing, and technology.
Recognizing the tremendous potential of AI to revolutionise various aspects of their business, American Express has been at the forefront of adopting this transformative technology. With the expansion of the Singapore Decision Science Center of Excellence, the company aims to enhance its global data science and technology capabilities, enabling the maintenance of world-class credit and fraud risk results while fostering continued AI innovation.
Anna Marrs, Group President of Global Commercial Services and Credit & Fraud Risk at American Express, expressed her enthusiasm for this development, stating, “American Express was an early adopter of AI, recognizing its ability to make a transformative impact on various aspects of our business. The Singapore Decision Science Center of Excellence expanded our global data science and technology capabilities, allowing us to maintain our world-class credit and fraud risk results and continue on our journey of AI innovation. In the next phase of the Center of Excellence, we will bring this same level of innovation to marketing and servicing use cases to deliver on our vision of providing the best customer experience every day.”
The Singapore Economic Development Board (EDB) has partnered with American Express in supporting the expansion of the Decision Science Center of Excellence. Jacqueline Poh, Managing Director of the Singapore Economic Development Board, expressed her excitement about this collaboration, stating, “EDB supports the development of innovative generative AI applications in businesses in order to improve their productivity and products. We are delighted to partner with American Express as it expands its Decision Science Center of Excellence, which will develop novel generative AI tools to serve its global customer base.”
With this expansion, American Express aims to leverage AI and ML technologies to create cutting-edge solutions that will enhance customer experiences across various aspects of their business operations. The Singapore Decision Science Center of Excellence will be at the forefront of driving AI innovation and shaping the future of the financial services industry.
