Muscat: While the current AI investment gains are concentrated among infrastructure providers such as chipmakers and cloud services, future growth will come as firms learn to expand margins using AI, according to Jenny Johnson, President and Chief Executive Officer of Franklin Templeton, while speaking at the recently held Hong Kong Fintech Week.
She highlighted real-world applications of crypto and NFTs (non-fungible tokens), such as luxury goods authentication and bandwidth sharing. She predicted that the next wave of major companies will emerge from AI and crypto innovation.
She emphasised that while AI and blockchain are transformative, the biggest challenge is organisational change management, where start-ups adapt faster than incumbents.
Johnson said that current AI investment gains are concentrated among infrastructure providers such as chipmakers and cloud services. Still, future growth will come as firms learn to expand margins using AI.
Nobel Laureate in Physics, Professor Emeritus of the University of Toronto, Geoffrey Hinton, shared at the event the future of AI. Professor Hinton introduced his groundbreaking “Mother AI” theory, emphasising the importance of ensuring AI genuinely cares for humanity rather than replacing it. He outlined strategies to mitigate AI-related risks and highlighted opportunities to foster innovation aligned with human values amid rapid technological advancement, while underscoring Asia’s key role in driving AI innovation.
Geoffrey Everest Hinton is a British-Canadian computer scientist, cognitive scientist, and cognitive psychologist known for his work on artificial neural networks, which earned him the title “the Godfather of AI”. Hinton is University Professor Emeritus at the University of Toronto.
Meanwhile, the Chief Executive of the Hong Kong Monetary Authority, Eddie Yue, noted AI’s transition from an experimental phase to a significant innovation driver, with over three-quarters of the city’s banks implementing or piloting AI solutions.
He emphasised the importance of deeper collaboration across the industry to develop a shared and scalable AI infrastructure that would benefit the banking industry.
He stated that this strategy aims to establish Hong Kong as a robust, resilient, and future-ready fintech hub, detailing how each pillar will drive the next chapter of fintech in the city.
Reflecting on the evolution of Hong Kong’s fintech landscape over the past decade, he introduced the strategy for the upcoming Fintech 3.0 era, characterised by technology embedded in daily life, underpinned by trust, transparency, and intelligence to create a real-world impact and lasting resilience.
