Prosus has finger firmly on the pulse of AI, says Chief Investment Officer Ervin Tu

Stephen Grootes speaks to Ervin Tu, Group President and Chief Investment Officer at Prosus Group, about how AI is transforming its businesses.

Listen below:

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The Prosus Group is one of the big businesses attending the 55th annual Davos summit in Switzerland this week.

The World Economic Forum's (WEF) Annual Meeting is a gathering of global leaders from politics, business, academia and other fields.

Speaking to The Money Show from Davos, Tu says there is much optimism.

"Absolutely, there's optimism. I think you can see that reflected in the markets as we start the new year and that's quite across the board around the world."

- Ervin Tu, Chief Investment Officer - Prosus Group

But what will be the main variables which determine whether that optimism remains?

Tariffs and trade wars are the discussion of the week, notes Grootes, some of which may well involve China.

"Yeah, that's the one wild card variable that everyone is considering and reflecting on and, of course, the problem is it's highly uncertain."

- Ervin Tu, Chief Investment Officer - Prosus Group

"... there will be some form of constraint imposed, but we don't know the scope, we don't know the severity. We have to take somewhat of an optimistic view and tread carefully..."

- Ervin Tu, Chief Investment Officer - Prosus Group

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Tu says AI is changing the way business is operating, not just for Prosus, but across all markets.

The development of AI is something he says they have made a point of staying on top of.

"We actually hired data engineers six years ago and they have been deploying that technology across our portfolio... across a whole host of arenas ranging from customer support to logistics optimisation."

- Ervin Tu, Chief Investment Officer - Prosus Group

"We know we have to get even better and our aspiration, our intent, which is in the world of commerce... is to contribute something meaningful in this regard in the world of commerce."

- Ervin Tu, Chief Investment Officer - Prosus Group

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Tu admits that the group's 'able and formidable' competitors also have their fingers on the pulse of AI development but he believes Prosus has an advantage over them.

"We have something we think others do not, which is practical experience at deploying the technology in the field on the ground, in various markets."

- Ervin Tu, Chief Investment Officer - Prosus Group

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Scroll up to the audio player to listen to the interview.