This year’s Bridge Forum Summit was focused on the future of enterprise software and emerging technologies, such as generative AI. How is GIC preparing for the future of technology?
CHOW KIAT: As a long-term investor, we closely monitor how companies and their workforces are evolving, and as a large company with 11 offices globally and investments in over 40 countries, we experience these evolutions firsthand.
CHRIS: We see good growth potential in enterprise software and fintech. Over the years, we have built a significant portfolio of companies in these two categories with unique product offerings, spanning enterprise video communications, data analytics and visualization tools, cloud data platforms, and many more. Looking ahead, in fintech, we are excited about innovation in the distribution of financial products and the underlying infrastructure that enables this. On the software side, tech companies are continuing to change the way businesses operate and there will be further innovations, such as with cloud migration, which we are still in the early days of.
CHRIS: Similar to what we saw in the development of cloud computing, we are also expecting a paradigm shift in software technology, given the developments in AI and as we see a new tech stack emerge in the field of generative AI. We anticipate that this paradigm shift will drive the creation of new tools and infrastructure that will make it easier to build AI applications on top of foundation models. The tooling and infrastructure layer represents a significant opportunity in the near term, as it will drive the development of more applications. Over the long term, it is likely that we may see a few dominant players emerge in the foundational model layer, with some breakout models being developed for specific verticals. On the application side, it is possible that most companies will incorporate AI features, and AI also has the potential to transform how consumers interact with the internet.
CHOW KIAT: The concern of generative AI being developed too quickly is not unwarranted. There are valid concerns about the ethical implications of AI-generated content, such as deepfakes and fake news. There is also a risk of malicious use of AI, such as in cyberattacks. It is up to all of us to work together to ensure that AI is developed and used in a responsible and ethical manner.