Here's a way that uses a temporary table to assure the uniqueness
Create and fill a #temporary table with unique random 8 character codes.
The SQL below uses a FOR XML
trick to generate the codes in BASE62 : [A-Za-z0-9]
Examples : 8Phs7ZYl, ugCKtPqT, U9soG39q
A GUID only uses the characters [0-9A-F]
.
For 8 characters that can generate 16^8 = 4294967296 combinations.
While with BASE62 there are 62^8 = 2.183401056e014 combinations.
So the odds that a duplicate is generated are significantly lower with BASE62.
The temp table should have an equal of larger amount of records than the destination table.
This example only generates 100000 codes. But you get the idea.
IF OBJECT_ID('tempdb..#tmpRandoms') IS NOT NULL DROP TABLE #tmpRandoms;
CREATE TABLE #tmpRandoms (
ID INT PRIMARY KEY IDENTITY(1,1),
[UniqueID] varchar(8),
CONSTRAINT UC_tmpRandoms_UniqueID UNIQUE ([UniqueID])
);
WITH DIGITS AS
(
select n
from (values (0),(1),(2),(3),(4),(5),(6),(7),(8),(9)) v(n)
),
NUMS AS
(
select (d5.n*10000 + d4.n*1000 + d3.n*100 + d2.n * 10 + d1.n) as n
from DIGITS d1
cross join DIGITS d2
cross join DIGITS d3
cross join DIGITS d4
cross join DIGITS d5
)
INSERT INTO #tmpRandoms ([UniqueID])
SELECT DISTINCT LEFT(REPLACE(REPLACE((select CAST(NEWID() as varbinary(16)), n FOR XML PATH(''), BINARY BASE64),'+',''),'/',''), 8) AS [UniqueID]
FROM NUMS;
Then update your table with it
WITH CTE AS
(
SELECT ROW_NUMBER() OVER (ORDER BY ID) AS RN, [UniqueID]
FROM YourTable
)
UPDATE t
SET t.[UniqueID] = tmp.[UniqueID]
FROM CTE t
JOIN #tmpRandoms tmp ON tmp.ID = t.RN;
A test on rextester here