On 5 February 2026, Paul Poh, Client Services and Head of Wealth, Asia-Pacific at Hg, spoke at the HSBC Private Bank 2026 Investment Outlook in Jakarta, joining Andrew Cox, Equity Investment Specialist at Janus Henderson, for a session titled Perspective Showdown: AI vs Non-AI.

Paul was speaking to an audience of more than 240 private bank clients and advisors, and welcomed the opportunity to share Hg’s perspective and engage directly with investors on how AI is shaping long-term portfolios.

The discussion reflected a topic we spend significant time on at Hg: how artificial intelligence is showing up in real businesses, and how investors should think about long-term opportunity beyond short-term market sentiment. Despite recent volatility in public markets, Hg’s view remains that AI presents meaningful opportunities for incumbent software companies. With more than two decades of experience investing in software and board involvement across nearly 60 private software and services businesses, we see how AI is being integrated into day-to-day workflows across the real economy.

Much of the recent concern around AI disruption has focused on horizontal software providers. In contrast, the businesses Hg backs are largely vertical software companies, built around highly specific, rule-based workflows such as payroll, tax compliance and healthcare administration, where accuracy and reliability are critical. In these settings, AI is more often a tool to strengthen existing systems rather than replace them, reinforcing the value of deep domain expertise, proprietary data and trusted customer relationships.

For wealth clients, these conversations matter. They shape how we think about durability, accountability and long-term ownership in private markets, and how technological change can be harnessed within businesses that operate where errors have real consequences.

Hg’s Chief Investment Officer has published his thoughts on this topic and on the opportunities AI presents for incumbents. CIO perspective on AI

This article is provided for informational purposes only and does not constitute investment advice or an offer to invest in any product or strategy. Views expressed are based on current perspectives and may change over time.