Artificial intelligence (AI) is driving change across almost every major industry today. Worldwide spending on AI is expected to reach US$110 billion by 2024, the International Data Corporation predicts. One of the biggest spenders will be financial services, a key sector in Temasek’s investment portfolio.

As a generational investor, Temasek is building AI capabilities to not only drive better business outcomes in our ecosystem, but also shape a better world. To do so, AI solutions must be responsibly designed, developed and deployed.

Financial services is a sector that can expand economic opportunity while meeting societal needs. According to a McKinsey study, AI solutions could add an additional US$2 trillion of annual value for banks and insurance companies globally.

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