Oliver Wyman Asia Pacific

Financial institutions in Asia Pacific are charging ahead with large scale generative AI usage, according to a survey conducted by Oliver Wyman in November. Banks are generally more mature in gen AI implementation than insurance, wealth, and asset managers (IAM). 42% of banks already adopt it in multiple business processes, and 24% have plans to invest above $20 million in 2025. However, IAM players are catching up. Despite only 33% adopting large scale gen AI today, another 33% have plans to do so in the next 12 months, and 11% have plans to invest over $20 million. Learn more about Quotient, Oliver Wyman's AI offering, and how we help deliver real value with AI > https://owy.mn/3VYsm12 #GenerativeAI #OliverWymanQuotient #Outlook2025

Did you know that younger consumers in China are increasingly favoring dupe apparel products over traditional luxury goods? This trend is particularly strong among millennials and signifies a transformative shift in consumer behavior, driven by economic considerations and evolving perceptions of value. How are China's luxury and travel markets evolving, and what strategies should businesses adopt to navigate these changes? Discover insights from our latest research > https://owy.mn/3Zo86q1 #Fashion #Travel #China

More than a fifth of retail spend today is paid through instant payment rails, and growing fast, we found in our recent merchant survey. However, instant payments are not accepted by many merchants, with a majority still favoring cash or credit/debit card payments. At the recent Merchant Advisory Group Payments Summit in Singapore, Partner Tanuj Bhojwani moderated a panel discussion with Abhishek Ahuja (foodpanda) and Yan Pan (Ant International) on how merchants can make instant payments part of their payments strategy. Access the voice of the merchant study > https://owy.mn/4eVyy0s #RealTimePayments #Payments #Retail

According to our analysis, leading commodity trading firms have increased their IT investments by 47% between 2018 and 2023. These days, traders are embracing generative AI in tasks ranging from data pre-processing to short-term portfolio optimization. How are commodity traders benchmarked when it comes to generative AI, and what must they do to leapfrog the competition? Read the full insight > https://owy.mn/3Db6yIr #GenerativeAI #MachineLearning #CommodityTrading

In every market, there is a long tail of varied micro, small and medium-sized businesses which share common pain-points. These MSMEs currently use a range of providers to support both their payment acceptance needs and the running of their business. There is untapped opportunity for banks and merchant acquirers to play a more central role in catering to the needs of their MSME customers. Our report with Amazon Web Services (AWS) outlines four key levers to unlock this opportunity > https://owy.mn/4hMACd9 #Payments #MSME #PaymentsInnovation

According to a confidential capability review we conducted for one Five Eyes nation, 89% of police nationwide who are cyber and digital specialists stated that they urgently need new training to stay ahead of cyber-dependent crimes. Clearly, law enforcement’s future must be rooted in data-driven strategies and digital policing. Most agencies tend to poach talent from other organizations, resulting in a zero-sum game for those working against a common threat. Recruitment alone cannot solve the problem. Instead, agencies would be better served to refocus internally by maximizing the potential of their existing workforce. Learn more about closing this gap > https://owy.mn/3ClP6Al Mercer #FraudPrevention #Data #CyberSecurity Lachlan McShane James Ogg Ephraim Patrick

Tune into our latest episode of the Reinventing Insurance podcast. Arjan Toor, CEO of Health at Prudential plc, joins Paul Ricard, Oliver Wyman's Head of Insurance and Asset Management, Asia Pacific, to discuss industry trends and how the health insurance landscape in the Asia Pacific is evolving. Paul and Arjan spoke about new growth opportunities, building deeper and more meaningful relationships with customers, and what’s ahead for the future. Whether you're a professional in the insurance sector or simply interested in the future of health, this episode is a must-listen > https://owy.mn/4eIubFr #ReinventingInsurance #HealthInsurance #CustomerExperience

Generative AI is going to make banking conversational, truly personalized, and always on. OCBC's Head of Group Data Office, Donald MacDonald, discusses his vision of a more personalized AI-powered banking experience, and the importance of responsible AI in this interview with Oliver Wyman's Asia Pacific AI lead, Na Zhou. Watch the full episode here > https://owy.mn/4fF1TNm #GenerativeAI #AI #Banking

An emphasis on sustainable, responsible, and inclusive growth is key to Indonesia's journey towards its Golden Indonesia 2045 (“Emas 2045”) vision. It's not a question of if, but when, Indonesia becomes a significant player in the Southeast Asia region and beyond. We gathered senior business leaders, policymakers, and industry experts at our event this week to discuss the key themes to propel Indonesia's growth. Explore our report > https://owy.mn/4ibKAoO #Indonesia #Economy #OWEmas2045

How prepared is your airline to tackle its carbon emissions journey in the near term?    With viable long-term technology solutions still years away, airlines have the opportunity to manage several key aspects of their carbon emissions journey in the near term. As stakeholder expectations accelerate beyond the industry's current capabilities, the challenge of transitioning from jet fuel becomes increasingly complex. Many airlines lack cohesive strategies and organizational mechanisms to effectively navigate these immediate priorities.   While international travel is addressed through the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), domestic emissions regulations vary significantly in scope and ambition, often feeling uncertain and subject to change.   To implement necessary short-term changes, airlines must focus on eight critical aspects of their operations. How many have you addressed?   Read more here > https://owy.mn/48SSRK6 #Innovation #Aviation #Sustainability Andreas Hilz Yannick Spencer Doug Carlucci