The global technology industry experienced challenges in 2022 but is expected to recover in 2024 with the rise of artificial intelligence. This article analyzes JPMorgan Chase’s interpretation of the technology industry in the Asia-Pacific region, especially the semiconductor industry and artificial intelligence development trends. The report pointed out that the artificial intelligence wave will drive the overall growth of the technology industry, and named beneficiary companies such as Nvidia and TSMC, as well as Singapore's investment plan in the field of artificial intelligence. Let’s take a closer look at this booming tech sector.
JPMorgan Chase said that the technology industry in the Asia-Pacific region is showing growth, supported by the boom in the semiconductor industry. The global technology industry faces high inflation and interest rates denting consumer spending in 2022, but is likely to return to moderate growth in 2024. The semiconductor industry is closely related to artificial intelligence, and the wave of artificial intelligence will drive the overall growth of the technology industry. Companies like Nvidia and TSMC are benefiting from the AI boom. Singapore will invest more than S$1 billion to improve artificial intelligence-related capabilities.To sum up, the rise of artificial intelligence has injected new vitality into the technology industry. With its strong semiconductor industry and active government investment, the Asia-Pacific region is expected to occupy an important position in the future technology wave. J.P. Morgan’s analysis provides a valuable reference for us to understand future technology development trends.