“Banks are likely the earliest beneficiaries given their already sizable investments in AI and systems integration. This could result in material use cases in middle-and-back office functions as well as new income sources through hyperpersonalisation and cross-selling,” they write.
The unprecedented rapid adoption of generative artificial intelligence (GenAI) coupled with the rising demand for 5G and internet of things (IoT) are major thematic developments that took place in 2023. These themes could influence medium-term earnings and valuations across sectors, say Maybank Securities analysts Thilan Wickramasinghe, Eric Ong, Kelvin Tan, Li Jialin, Jarick Seet and Krishna Guha.
GenAI is set to improve productivity and potentially drive new revenue streams across all sectors, note the team of analysts in their report dated Nov 29.
