Adoption

• Industry leaders concluded the Global Fintech Fest (GFF) 2026 in Mumbai with a focus on AI-led growth and secure digital payments. • Participants stated that future growth depends on turning artificial intelligence and emerging technologies into scalable and inclusive financial solutions. • This shift means fintech companies must prioritize security and accessibility to expand their market reach and user adoption.

• Finance Minister Nirmala Sitharaman urged institutions to prioritize the responsible adoption of artificial intelligence rather than avoiding the technology. • The Minister stated that faster AI integration requires strict safety, accountability, and the continued use of human oversight to manage risks. • Financial institutions and regulators must now oversee AI deployment to prevent potential harms and reduce reliance on outdated legacy systems.

• Senior Minister of State for Digital Development and Information Tan Kiat How is urging Singaporean businesses and public-sector organisations to adopt a "problem-first" approach to artificial intelligence. • The initiative emphasizes practical outcomes and solving meaningful problems over the superficial adoption of AI technology for its own sake. • Key priorities for this strategic shift include workforce transformation, inclusive innovation, and the responsible deployment of AI at a meaningful scale.

• SMBC Asia Rising Fund and Singtel Innov8 have invested in fileAI to support the company's expansion into the Japanese market. • The funding will facilitate the launch of fileScout, a proprietary solution designed to map and harness unstructured data for enterprises. • This investment comes as enterprise AI adoption accelerates across Asia, highlighting the growing demand for tools that manage complex corporate data.

• AI and generative AI investments across Asia are projected to surge, reaching an estimated $175 billion by 2028. • Singapore and India are emerging as primary strategic hubs for the development and deployment of AI technologies. • The trend is driven by widespread adoption, with many employees across the Asia-Pacific region already integrating AI tools into their weekly work routines.

• Established European technology firms are experiencing stronger growth as businesses accelerate the adoption of AI through cloud investments and digital transformation. • While global attention has focused on AI model developers, recent earnings indicate that software, consulting, and cloud infrastructure firms are capturing a significant share of the economic benefits. • This shift matters as it demonstrates that the AI boom is translating into tangible revenue for the broader enterprise ecosystem beyond just the creators of the technology.

• Goldman Sachs projects that China's AI revenue will reach US$13 billion, driven by significant technological breakthroughs and increased adoption. • The bank specifically raised year-end Annual Recurring Revenue (ARR) forecasts for Hong Kong-listed firms Zhipu AI to US$2.5 billion and MiniMax to US$1 billion. • This growth is attributed to Chinese AI models reducing operational costs, enhancing capabilities, and capturing a larger share of the global token market.