Global Economy

'Most interesting and important sector': Asia's family offices are putting their money in AI


Artificial intelligence has become an increasingly popular theme among family offices in Singapore and the wider Asia region, LH Koh, managing director and head of global family and institutional wealth at UBS said at CNBC’s CONVERGE LIVE event in Singapore last month.

“Our family office clients are focusing on this as perhaps the most interesting and important sector,” he said in a conversation with CNBC’s Robert Frank.

Koh, whose clients are based across the Asia-Pacific region, believes the “trend focusing on AI will still continue.”

He cited a 2024 UBS survey which found that more than three-quarters of family are keen to invest in generative AI in the next two to three years.

Tuck Meng Yee, founder and partner at JRT Partners, a single-family office, echoed Koh’s comments.

CNBC’s Robert Frank speaking with guests at CNBC’s CONVERGE LIVE in Singapore.

CNBC

Yee, whose firm takes an “endowment style, multi-asset” approach, says he is keeping a close watch on the data classification aspect of the AI theme.

Companies in this space he is invested in include Cognaize, an Armenian software development firm.

Another company Yee is invested in is construction tech firm Consai, which has offices in Qatar and Poland.

AI in China



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