DBS expects its artificial intelligence (AI) initiatives to generate more than S$1 billion in revenue this year, up from S$750 million in 2024, CEO Tan Su Shan said.

She shared the outlook with CNBC during the Singapore Fintech Festival week, adding that AI is already delivering measurable gains for the bank.

Unlike many firms still waiting for returns on their AI investments, DBS says its results stem from more than a decade of work modernising data systems and integrating both generative and agentic AI across operations.

The bank now runs around 370 AI use cases supported by over 1,500 models.

Tan said these tools are lifting productivity across the business, particularly in institutional banking, where AI helps analyse client data and tailor financial solutions.

She noted that this has contributed to stronger deposit growth relative to peers.

DBS has also launched an enhanced AI assistant for corporate clients, while more than 100 algorithms generate personalised insights for retail users inside its digital banking platform.

The bank’s experience contrasts with findings from a recent MIT review, which reported that most publicly disclosed AI projects have yet to produce financial returns.

Some banks appear to be outliers. JPMorgan Chase has said its roughly 2 billion US dollars in annual AI spending has already reached break-even.

Tan said DBS will continue scaling its AI capabilities and is investing heavily in reskilling programmes to support staff.

She added that automation will primarily remove routine work so employees can focus on customer engagement.

According to Tan, AI will remain a central driver of the bank’s growth in the years ahead.

Featured image: Edited by Fintech News Singapore, based on image by Singapore Fintech Festival via flickr