An amalgam of factors such as supportive government, highly skilled talent pool, strong IP regime, and well-developed tech infrastructure add nourishes the fertile ground of innovation in Singapore. Singapore’s Prime Minister Lee Hsien Loong identified four technology sectors that Singapore needs to build – namely data science and artificial intelligence (AI), cybersecurity, the Internet of Things (IoT), and future communications infrastructure such as 5G mobile networks.
Several initiatives such as SGInnovate, AI Singapore were funded with several billion dollars to ensure nurturing deep tech roots in the country. AI Singapore even launched a program called “100 Experiments”, aimed at solving problems with AI in different industries.
According to a study carried out by IDC, in the ASEAN region, AI adoption rates are currently on the rise and growth has almost doubled in comparison to last year. Artificial intelligence has the potential to reinvigorate the state island's economy and boost its industrial profits as, according to a recent report by Accenture, AI could add up to US$215 billion in gross value across 11 industries by 2035.
However, adoption of AI into practical applications comes with its own challenges, organizations that are venturing on AI solution need to understand that
Well the government had thought about that as well. Beginning of this year at Devos, Singaporean government announced it was working with the World Economic Forum’s Centre for Fourth Industrial Revolution (WEF C4IR) to help drive the ethical and responsible deployment of artificially intelligent technologies.
This approach comprises three interlinked and multidisciplinary initiatives:
1. A governance framework,
2. An experienced and respected international advisory body, and
3. Cutting-edge academic research.
The framework is the first of its kind to exist throughout Asia and provides guidance which is both detailed and readily implementable to help organizations throughout the city-state navigate the complex ethical questions that often arise when AI technologies and solutions are deployed. The government also understands that this framework needs to be a living document and agile in order to evolve with the fast-paced changes in the digital economy.
According to a study carried out by IDC, in the ASEAN region, AI adoption rates are currently on the rise and growth has almost doubled in comparison to last year. Artificial intelligence has the potential to reinvigorate the state island's economy and boost its industrial profits as, according to a recent report by Accenture, AI could add up to US$215 billion in gross value across 11 industries by 2035.
However, adoption of AI into practical applications comes with its own challenges, organizations that are venturing on AI solution need to understand that
1. Decisions made by or with the assistance of AI are explainable, transparent and fair to consumers
2. Ensure artificial intelligence solutions they deploy are human-centric
Well the government had thought about that as well. Beginning of this year at Devos, Singaporean government announced it was working with the World Economic Forum’s Centre for Fourth Industrial Revolution (WEF C4IR) to help drive the ethical and responsible deployment of artificially intelligent technologies.
This approach comprises three interlinked and multidisciplinary initiatives:
1. A governance framework,
2. An experienced and respected international advisory body, and
3. Cutting-edge academic research.
The framework is the first of its kind to exist throughout Asia and provides guidance which is both detailed and readily implementable to help organizations throughout the city-state navigate the complex ethical questions that often arise when AI technologies and solutions are deployed. The government also understands that this framework needs to be a living document and agile in order to evolve with the fast-paced changes in the digital economy.
While the arena is already set for the revolution, Tech companies like PsiberTech Solution are playing a vital role in being a front runner and contributor to the initiative.
Psibertech is creating cutting edge custom solutions by utilizing AI and Robotic engineering technologies in providing solutions in Health care and Manufacturing industries. To know more about the AI initiatives at PsiberTech solutions or start a conversation head over here.
Srivatsan Aravamudan - Sri
Senior Solution Consultant
Mail: srivatsan@psibertech.com.sg
Call: +65 62689551
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