Overview
Artificial intelligence and machine learning utilised in certain industries; contributes to Singapore’s Smart Nation journey
One of the fastest growing sectors, artificial intelligence (AI) is noted by the Singapore Government as one of the four technologies needed when fulfilling Singapore’s aim of becoming a leading digital economy and Smart Nation.
Singapore collaborated with the World Economic Forum’s Centre for the Fourth Industrial Revolution to develop an AI framework. While no country may have a sufficient number of qualified employees, Singapore has launched many initiatives to contribute to the country's growth as a Smart Nation. As a result, AI and machine learning (ML) technologies are adopted by many industries. For instance, in the education sector, robots are used as a teaching aid in certain preschools.
Industries such as the financial and business sector adopt ML and AI for detecting fraud, and delivering the most effective customer services and reducing operating costs, while local institutes of higher learning are integrating automation and AI tools into company modules and programmes.
According to A*STAR, an R&D agency and developer of innovative AI tools and solutions, genomics is the basis of diverse diagnostic tests, and the genomic data gathered is often complex to analyse. Therefore, AI has become a vital component for analysing genomic data. Machine learning is not only used for unpacking genomic data but also for linking genomic data to other types of data in wearable sensors and blood tests, or when guiding doctors’ treatment decisions.
Government’s AI and ML initiatives and regulations promote technological adoption and development within the private and public sectors
To accomplish the country’s ever-growing digital economy journey, the Singapore Government has conducted a myriad of initiatives through various agencies. These include the Smart Nation and Digital Government Office (SNDGO), under the Prime Minister’s Office, which was established to plan and focus on Smart Nation projects that invigorate the government’s digital transformation efforts.
Additionally, the Government Technology Agency (GovTech) implements Smart Nation initiatives for building Smart Nation infrastructure and providing government digital services. Another organisation, SGInnovate, is a government-owned company under the National Research Foundation (NRF), established to invest and develop local ‘deep tech’ startups.
AI Singapore, a national AI programme, was launched as a joint venture between NRF, the SNDGO, the Infocomm Media Development Authority (IMDA), SGInnovate, the Singapore Economic Development Board and the Integrated Health Information Systems (IHiS). It promotes collaboration between local research institutions and AI start-ups and developers of AI products to balance and boost the country’s AI capabilities and efforts.
The Advisory Council on the Ethical Use of AI and Data comprises 11 members from international leaders in AI including Google, Microsoft and Alibaba. It facilitates local companies interested in implementing AI and benefactors of consumer and social interests. The council advises the government on legal, ethical, regulatory and policy issues that arise when using AI and other data-driven technologies, and also tackles ethical queries and provides guidance to the industry.
The Singapore Academy of Law's Future Law Innovation Programme encourages the innovation and adoption of new technologies across law firms, legal-tech startups and legal departments, while a National AI Office commenced operations for maintaining the commercialisation of AI research as well as a connection between public and private sectors.
The National AI Strategy, set up by the SNDGO, is a key initiative in Singapore’s Smart Nation journey, and is engaged in five national AI projects across the border security, logistics, healthcare, education management and estate management sectors. Government grants and incentives are also provided, including the Monetary Authority of Singapore’s (MAS) Artificial Intelligence and Data Analytics (AIDA) Grant, which encourages the integration and adoption of AI and data analytics within financial institutions.
As of today, while most governments around the world are currently drafting AI regulatory frameworks, Singapore has already adopted the soft law Model AI Governance Framework, a set of strategies for businesses to tackle vital ethical and governance issues when harnessing AI solutions.
Key Trends
The evolution of AI and ML: a foreseeable element in the future of Singapore’s Smart Nation initiative
Over the years, AI and ML technologies have evolved due to the government’s efforts to meet the demands of consumers and its Smart Nation initiatives. In 2016, Gerd Leonhard, Chief Executive Officer of The Futures Agency, speaking at the Infocomm Media Business Exchange (imbX), noted that there was a growing increase in connectivity, man-machine convergence, intelligence and data. He also advised businesses that if there is a lack of usage in technology, algorithms, AI and data, these businesses would not be successful. In addition, he predicted that within 7 years, AI would begin to exceed the performance of the human brain.
In 2017 at the Innovfest Unbound conference, Paul Scanlan, President of Business & Network Consulting at Huawei, reportedly stated that a Smart City initiative involving the entire country and the Singapore government had invested in the right expertise of data science, AI and 3D printing to ensure a digital future. Moreover, in 2017 Steven Hoi, Associate Professor of Information Systems at the Singapore Management University (SMU), was reported to have stated that solely due to the availability of big data and progress being made in high-performance computing, machine learning had become more impactful and popular.
At the GovInsider Innovation Labs World summit in 2016, Selina Seah, Assistant CEO of Changi General Hospital (CGH), had noted that while robots already perform many delivery functions within CGH, the adoption of robots in the healthcare sector involved robotics to build smart healthcare facilities.
The aftermath of COVID-19: an advantage for Singapore’s digital economic journey and its future outlook
By the end of 2019, the COVID-19 pandemic began affecting numerous nations worldwide, while governments and public officials collaborated with leading healthcare, education, technology and nonprofit organisations to gather resources in order to combat the coronavirus.
The IMDA is responsible for Singapore’s infocomm media and technology sector, and launched the Accreditation@SGD scheme to facilitate Singapore-based innovative technology product companies and startups. According to SparkBeyond, an SG:D Accredited startup, the company and other startups would contribute AI technologies to fight the COVID-19 pandemic and survive its aftermath.
SparkBeyond noted 5 advantages of AI: high-accuracy predictions made for detecting asymptomatic carriers; finding unique insights pertaining to the virus spread; identifying patterns where social distancing measures have effectively limited interaction; predicting weather reports and providing medical, demographic and transportation data; and ascertaining the right time, place and methods for easing or lifting of restrictions.
In 2020, Singapore reported over 57,500 cases of COVID-19, 95% of whom were migrant workers. According to SMU, the implementation of machine learning and AI for the usage of data delivers smarter recommendations for students when choosing the right courses or methods that leverage their strengths or tackle their weaknesses. Nanyang Technological University (NTU) uses AI to produce a platform for virtual lessons and for tracking the progress made by students.
In 2022, to strengthen trade and investment, Singapore and the US will collaborate on projects pertaining to AI, advanced manufacturing and cybersecurity. Additionally, mapping exercises, workshops and other events are to be held between Singapore-based and USA-based companies.
Key Statistics
- By the end of 2019, Accenture reported that by 2035, the AI sector in Singapore will reinvigorate the country's economy, adding up to a gross value of USD 215 billion across 11 industries.
- It was reported in 2019 that Singapore will adhere to the Research, Innovation and Enterprise 2020 plan, and has allocated over SGD 500 million towards digital technologies including AI.
- In 2021, NRF aimed to invest up to SGD 150 million over five years in the AI Singapore initiative.
Top Singapore MNCs in AI & ML Companies
IBM SINGAPORE PTE LTD
Repeated as per client
ALIBABA CLOUD (SINGAPORE) PRIVATE LIMITED
Repeated as per client
SALESFORCE.COM SINGAPORE PTE. LTD.
Repeated as per client
CLOUDERA SINGAPORE PTE. LTD.
Headquartered in the USA, Cloudera is a software firm that provides enterprise data management systems. Cloudera’s data platform is open to Machine Learning which enables enterprise data science teams to collaborate across the full data lifecycle with immediate access to enterprise data pipelines, scalable compute resources and preferred tools. The platform optimizes ML workflows across customers’ businesses with tools for deploying, serving and monitoring models. Cloudera has a presence in several countries, including Singapore where it incorporated an office in 2014. Cloudera Singapore has served various clients including the Singapore Accountant-General’s Department, the Singapore Health Services, the Singapore Tourism Board, and others.
DATAROBOT SINGAPORE PTE. LTD.
DataRobot – a company based in the US – enables enterprises to take advantage of the transformative power of Artificial Intelligence. The firm provides an AI cloud platform that allows clients to build innovative new models from diverse data types, along with an AI-native strategic success team to assist customers in converting data into value. The platform’s Automated Machine Learning (AutoML) solution empowers AI creators at many organizations to apply their domain expertise and deliver best-in-class models. DataRobot – which has a presence in Denmark, Ukraine, Japan and the UK – established an office in Singapore in 2015.
AMAZON WEB SERVICES SINGAPORE PRIVATE LIMITED
Repeated as per client
DATAIKU PTE. LTD.
Dataiku is an all-in-one AI, data science and machine learning platform which is headquartered in the United States. Globally, Dataiku is used by more than 500 businesses to systematize their use of data, analytics and AI. The platform supports a wide range of use cases, including models driving fraud detection, customer churn prevention, predictive maintenance, supply chain optimization, and much more. The company has a presence across the world – in France, the United Kingdom, Germany, Australia, Japan, and others. Dataiku was incorporated in Singapore in 2019.
FACEBOOK SINGAPORE PTE. LTD.
Repeated as per client
H2O.AI SINGAPORE PTE. LTD.
H2O.ai is a US-based company that has expertise in automated machine learning (autoML), time series forecasting and responsible AI. The firm’s partnerships encompass corporate clients, academic institutions and non-profit groups, in addition to the open-source community. The firm is a trusted AI partner to more than 20,000 businesses worldwide. Through its office in Singapore, which was incorporated in 2018, H2O.ai has served clients such as PropertyGuru and the New South Wales Government. PropertyGuru, a property management company, used H2O's Driverless AI platform to implement AI for a variety of use cases, including image moderation, churn prediction, credit forecasting, and listing performance evaluation.
C3.AI SINGAPORE PTE. LTD.
C3 AI is an integrated platform that provides software services to rapidly develop and operate Enterprise AI applications. C3 AI Applications support the value chain across industries with prebuilt, configurable, high-value enterprise AI applications for reliability, fraud detection, sensor network health, supply chain optimization, sustainability, anti-money laundering, and customer engagement. C3 AI is headquartered in the USA and has a presence across the globe – in Australia, Singapore, Germany, the UK, France, Italy, Mexico, India and the Netherlands. C3 AI Singapore was incorporated in 2019. Forrester Research named C3 AI as a Leader in AI and Machine Learning Platforms in its July 2022 report.
Top Singapore Large Local Enterprises in AI & ML Companies
ENVISION DIGITAL INTERNATIONAL PTE. LTD.
Repeated as per client
TRAX TECHNOLOGY SOLUTIONS PTE. LTD.
Trax Technology Solutions was founded in Singapore in 2010. Trax is an image-recognition platform that transforms shelf data into metrics to measure execution, store compliance, market share, staff and SKU performance, and more. An effective combination of AI and human validations guarantees the accuracy of the company's image-recognition data, while machine learning ensures accuracy. Trax has a global presence with offices in the USA, France, China, Mexico and Brazil. Internationally renowned consumer brands – including Coca-Cola, Unilever, Nestlé, P&G and Heineken, as well as retailers like Best Buy, Auchan, Sam's Club and TJ Maxx – are among the firm’s clients.
ADVANCE INTELLIGENCE PTE. LTD.
Repeated as per client
ALPHA ZETTA PTE. LTD.
Repeated as per client
Top Singapore SMEs in AI & ML Companies
CRAYON DATA PTE. LTD.
Repeated as per client
TECHSOURCE SYSTEMS PTE LTD
Repeated as per client
DC FRONTIERS PTE. LTD.
Repeated as per client
LATIZE PTE. LTD.
Repeated as per client
ALPHA ORI TECHNOLOGIES PTE. LTD.
Repeated as per client
VISENZE PTE. LTD.
Established in 2012, Singapore-based ViSenze is an AI search and discovery company for retailers, brands, and merchants across the globe. This automated AI platform is trusted by ASOS, Zalora, Meesho, Rakuten, DFS, EyeBuyDirect, and many other renowned retailers to enhance their product discovery processes. ViSenze offers a comprehensive range of solutions such as Smart Recommendations which is a combination of Visual AI and Machine Learning, allowing retailers to make recommendations that show products that consumers are most likely to buy. The company has earned several accolades, including an Emerging Enterprise Award as Singapore’s Most Promising Startup in 2015.
TOOKITAKI HOLDING PTE. LTD.
Tookitaki Holding, which was incorporated in Singapore in 2014, is a regulatory technology company. It offers financial crime detection and prevention products to banks and fintech companies through AI and Machine Learning solutions. The company’s global network includes offices in India, the US, the UK, Indonesia, Taiwan, the Philippines, the UAE and Brazil. Tookitaki's Anti-Money Laundering Suite – which is a combination of transaction monitoring, intelligent screening, and customer risk scoring solutions – provides a complete picture of a company’s risk profile. This product won the inaugural Singapore Business Review Technology Excellence Award 2019 in the AI – Banking category.
6ESTATES PTE. LTD.
Incorporated in Singapore in 2014, 6Estates is an AI fintech company which focuses on business-level complex document understanding and domain-specific knowledge graph construction. The firm has expertise in Knowledge Graph (KG), Multilingual Natural Language Processing (NLP) and Machine Reading Comprehension (MRC) technologies. 6Estates provides assistance to financial institutions in processing unstructured financial documents and automating operational processes – thereby helping to increase efficiency and productivity, as well as accumulate invaluable knowledge. The company’s AI-powered Intelligent Document Processing solutions have been applied in various regional banks for trade finance and credit assessment processes.
AMARIS.AI PTE. LTD.
Repeated as per client
FINBOTS AI SOLUTIONS PTE. LIMITED
Finbots AI Solutions was established in Singapore in 2017. The business creates AI-powered solutions to aid financial institutions in overcoming obstacles and achieving their goals. To democratize access to transformational technology for both large and small financial institutions, the company offers product design and pricing strategies. The company’s integrated AI SaaS solution, finbots creditX, enables clients to build, deploy and validate credit models across their full credit lifecycle of Applications, Behaviour and Collections. The firm has been recognized as one of Singapore's Top 10 FinTechs by the Monetary Authority of Singapore (MAS) at the SFF Global Fintech Awards 2022.
