Keep pulling the thread on Tan Su Shan.
DBS aims to become the best AI-enabled bank within the next five to ten years, using AI to automate mundane work and free up staff for human-to-human relationships.
DBS is targeting over $1 billion in incremental revenue from its AI initiatives this year.
Tan Su Shan predicts that AI will eliminate many service center jobs at DBS, and the bank plans to retrain affected employees as relationship managers for its 200,000 SME clients.
The global technology landscape is bifurcating into separate Eastern and Western stacks due to the 'weaponization' of payments, trade, supply chains, and semiconductors.
The Norwegian Sovereign Wealth Fund operates with a long-term investment horizon of 50 to 100 years.
The Norwegian Sovereign Wealth Fund's broad asset allocation is determined by a mandate from the Norwegian Ministry of Finance, not by the fund's management.
DBS has evolved from its origins as the Development Bank of Singapore to become the largest commercial bank in Southeast Asia.
The Singaporean government, through its sovereign wealth fund Temasek, is a significant shareholder in DBS.
Tan Su Shan believes Temasek's ownership provides DBS with a stable ecosystem of portfolio companies, access to talent, and exposure to disruptive technology.
In response to geopolitical risks, companies are diversifying their supply chains away from a sole reliance on China, adopting a 'China plus one' strategy.
High-net-worth families are diversifying their banking relationships to include Asia alongside traditional hubs like the US and Switzerland, and are also moving assets into gold and non-USD currencies.
DBS sees significant growth potential in trade flows outside of the US, specifically in intra-Asia, Asia-to-Middle East, EU-to-Asia, and intra-ASEAN corridors.