SINGAPORE (Nov 12): The use of data, coupled with artificial intelligence, has seized the attention of players in the digital economy. They dream of new possibilities and are enthusiastic in making those ideals come true.

The Bank of America, for example, says the congruence of Big Data and AI will span multiple sectors and bring about many opportunities. Today, just 1% of global data is being properly stored, catalogued and analysed. Come 2025, the proportion of data stored and analysed will increase to 37%, and result in US$5 trillion ($6.9 trillion) in annual benefits, the bank predicts in an October report.

The numbers in this prediction may not turn out entirely accurate, but the broader trends are already well underway. Big banks spend generously on digital capabilities, while many fintech start-ups exist hoping to sell the Next Big Idea.

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