DBS Joy
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CEO of Southeast Asia's largest bank says AI adoption is already paying off: ‘It’s not hope, it’s now’
CNBC· 2025-11-14 03:34
Core Insights - The CEO of DBS Group Holdings Ltd. asserts that the bank is already experiencing significant benefits from its AI initiatives, countering concerns about an AI bubble [2][4] - DBS has been implementing AI for over a decade, which has positioned the bank to leverage recent advancements in generative and agentic AI [3] - The bank anticipates a revenue increase of over 1 billion Singapore dollars (approximately $768 million) in 2025 due to AI, up from SG$750 million in 2024, driven by around 370 AI use cases [4] AI Implementation and Impact - DBS has utilized AI to enhance financial services for institutional clients, improving data collection and personalization of offerings, leading to more efficient teams [5] - The introduction of the AI-powered assistant "DBS Joy" aims to support corporate clients with banking queries, showcasing the bank's commitment to AI integration [6]