BPI Wealth, the asset management arm of Bank of the Philippine Islands (BPI), recently hosted a private event called “A.I.VOLUTION: Unleashing the Power of AI in Investments.” The event brought together 100 of BPI Wealth’s clients to discuss the latest developments in artificial intelligence (AI) and its potential impact on investments.
Teresa Marcial, President and CEO of BPI Wealth, highlighted the rapid advancement of AI and its promise in improving various industries, including the investment space. She also emphasized the importance of addressing ethical and practical considerations surrounding the growth and deployment of AI.
During the event, Reid Menge, Managing Director and head of AI Labs at Blackrock, discussed investment opportunities in AI. Menge showcased different use cases of AI, such as large language models, voice optimization, predictive analytics, risk assessment, and data optimization. He emphasized the speed and precision that AI brings to these processes.
Menge also advised investors to look out for new companies that can support and develop AI technologies. He noted that advancements in AI would benefit industries that produce high-powered hardware, semiconductors, data centers, and software and data tools.
In line with these investment opportunities, BPI Wealth launched the BPI World Technology Feeder Fund in 2021. The fund invests in leaders and emerging players in the technology space, including key players in AI such as Alphabet Inc and Nvidia.
BPI President and CEO TG Limcaoco acknowledged the potential of AI in revolutionizing banking services. The bank has been utilizing AI to introduce new features in the BPI App, such as Track and Plan, an AI-powered personal finance management tool that tracks and analyzes financial activities, provides insights into spending habits, suggests investment opportunities, and helps with financial planning.
BPI Wealth, a wholly-owned subsidiary of BPI, is engaged in trust and fiduciary services. Its trust unit is the largest standalone trust corporation in the Philippines, managing assets worth P1.145 trillion as of August this year.
