Temasek bets on human-AI collaboration to transform investment decisions

At Temasek, one of the world’s most influential investment firms, artificial intelligence isn’t just a buzzword—it’s reshaping how decisions are made across a SG$434 billion portfolio. Rather than replacing human judgment, AI is being harnessed to challenge assumptions, reduce bias, and uncover insights hidden in vast amounts of data.

For Mark Lim, chief digital officer, the goal is clear: empower employees to work smarter, not harder, and allow technology to amplify human decision-making. Over the years, the firm has adopted AI to add another layer of checks to human biases, and Lim argues that while AI is often thought to have biases, in reality, people too have their own bias.

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“Basically, what we’re trying to do is use AI to reduce human biases,” added Lim. The scale of information Temasek manages makes AI indispensable given the sheer volume of documents that needs to be carefully checked – from financial statements to performance reports.

“The good thing about AI is it can process a lot of information in a very short time,” said Lim who explained AI’s ability to process these vast datasets quickly gives the firm an analytical edge – but of course, this always needs to be coupled with human oversight.

A central tool in this process is Temasek’s Knowledge Graph, which maps relationships between entities across its portfolio. By uncovering connections between companies, sectors, and market trends, the firm can make more informed decisions and anticipate shifts that might impact long-term returns. However, Lim stressed that this is not about automating decisions entirely but rather spotting pitfalls.

He said:

“AI may not always be right, but it encourages you to think ‘Can we take a second look at it? Can we think about it again?’”

So what can be automated?

Repetitive tasks such as data extraction or document processing, can be automated, freeing staff to focus on higher-value work should be a starting point, explains Lim. Temasek’s AI strategy extends beyond investment teams and involves other teams working together to drive AI adoption such as the organisation and people (O&P) department, risk, internal audit, legal and cybersecurity.

Lim described an internal program called “AI and digital fluency,” designed to empower employees at every level to leverage approved AI tools and automation in their daily work. Candidly he added, “I always tell my colleagues, the future will be human and AI working together. It’s already happening now.”

The firm’s approach to technology is grounded in governance and control. While Temasek subscribes to AI models from providers such as OpenAI and Google, it has developed a “thin layer” on top of these services to ensure compliance with regulatory requirements and data privacy frameworks. This layer allows the firm to control what information is fed into AI systems while maintaining the flexibility and security to switch between models as needed.

These examples underscore Temasek’s philosophy: digital transformation is not just about efficiency, but about creating tangible impact for people and communities.

Impact on communities

Lim highlighted Temasek’s broader digital transformation journey, which predates his tenure at the firm. He drew parallels to his work in Singapore’s public sector, where he helped implement SingPass and Myinfo. Both are initiatives that simplified citizen authentication and government service access.

Another project close to Lim’s heart is the MyResponder app, which connects trained volunteers to cardiac arrest incidents, dramatically improving response times and saving lives. “There are many people who have saved lives. People have won national day awards for using our app to save quite a number of lives,” said Lim.

“I personally am very proud of this app that we built. Of all the apps that I’ve done, this is the one that really touched my heart,” he said.

A key principle underpinning Temasek’s AI adoption is balancing empowerment with responsibility. Data is a strategic asset, but sharing it comes with inherent risks. Lim described this as two different worlds – one of which, he calls the ‘Caveman’ where there is no use of technology or data. The other, he names it the ‘Wild, wild, west’ where everything goes.

“We cannot afford both. We need a balance and we need to manage the paradox of empowering the business to use the technology and build the right culture, but at the same time manage data governance,” said Lim.

Looking ahead, Lim envisions a world in which AI enhances human insight, rather than replacing it. Investment decisions will continue to rely on human judgment, but AI will act as a trusted collaborator, processing information, challenging assumptions, and uncovering insights.

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