Know more about the latest AI news in Singapore for the entire month of April 2023 only here at SGBusinessTalk.
Singapore approves Neurophet’s AI brain degeneration analysis software
Singapore’s Health Sciences Authority (HSA) has approved Neurophet’s artificial intelligence (AI) software for the analysis of brain degeneration. The AI-based diagnostic tool is capable of analyzing structural and functional brain changes in magnetic resonance imaging (MRI) scans. Neurophet aims to use the technology to identify early signs of Alzheimer’s and Parkinson’s diseases. The approval by HSA is a significant milestone for the Singaporean start-up, as it enables the company to commercialize its AI tool in Singapore’s healthcare industry.
Singapore favors AI, alternative food talent in new visa scheme
The Singaporean government has released details about its plans to attract foreign professionals ahead of one of the largest changes to the country’s visa scheme, which is set to take effect in September. The new point-based assessment process, called COMPASS, will favor 27 jobs, including artificial intelligence engineers, cybersecurity experts, and alternative meat scientists. Singapore expects these global companies to help grow its economy post-pandemic, and the new scheme’s focus on employers’ contributions to the local economy will prompt businesses to adjust their hiring strategy to the country’s economic priorities. The new visa scheme will apply to the Employment Pass, a work visa for foreign professional managers, executives, or those in specialized jobs. The Shortage Occupation List unveiled in late March shows that EP applicants for 27 jobs in six industries can earn up to 20 bonus points. The list will be reviewed every three years but can be done annually if needed to balance flexibility with certainty for businesses.
Genetics and AI: The tech that goes into growing strawberries in Singapore
Singrow, an agri-tech start-up from Singapore, has successfully engineered the world’s first strawberries that are resilient to climate change and can thrive in temperatures ranging from 20 to 28 degrees Celsius. The fruits were created using molecular cross-breeding technology and are cultivated in an indoor farm equipped with advanced sensing technology to monitor plant and environmental conditions. Singrow is also venturing into cultivating other crops such as saffron and rice, aiming to decrease fertiliser use by 30% and pesticide use by 70%. The company is collaborating with larger farms in the region to share their crop varieties and technology.
Keeping Singapore firms and workers at the forefront of AI advancements: Temus and AI Singapore sign MOU to accelerate AI innovation and adoption
Digital transformation services company, Temus, has formed a strategic partnership with AI Singapore (AISG) to boost the adoption and innovation of artificial intelligence (AI) among Singaporean companies. The partnership will develop new AI technologies, solutions, and applications for Singaporean firms, and provide training, resources, and mentorship to nurture local AI talent. Temus and AISG will also work together to accelerate AI adoption and deployment among organizations under AISG’s 100 Experiments (100E) programme. The partnership aims to enhance Singapore’s position as a global AI hub and deliver long-term value for business transformation. The collaboration has already initiated a project with a Singaporean aviation company to test AI-powered solutions for unstructured information, potentially leading to greater efficiencies in the contracting and negotiation process.
Singapore Management University and Publicis Groupe Reveal the Winners of Its AI Storytelling Program
A group of undergraduates from Singapore Management University (SMU) have completed an AI storytelling workshop co-taught by SMU and Publicis Groupe, giving them a glimpse of the future of the creative workplace. The program challenged 45 students from various disciplines to create a story with a futuristic premise using Chat GPT, Lexica, Eleven Labs, and RunwayML. Four winning mini-films were selected based on their use of AI and the strength of their storytelling. The workshop was designed to prepare students for a future creative workplace that is being transformed by AI, with the aim of equipping them with the knowledge and advantage needed for future success. The workshop was led by Mark Chong, Associate Professor of Communication Management at SMU’s Lee Kong Chian School of Business, and Laurent Thevenet, Head of Creative Technology at Publicis Groupe APAC & MEA. The program is part of a 13-week SMU-X Course titled ‘Storytelling for Organisations and Brands’, which features project-based experiential learning.
Singapore-based Excelpoint to accelerate commercialisation of world’s first AI-powered Brainband to solve sleep pandemic
Earable Neuroscience US and Excelpoint Technology have announced a strategic partnership to accelerate the commercialisation of the world’s first AI-powered consumer wearable, FRENZ Brainband. The wearable tracks and stimulates brain activities to enhance mental well-being through improvements in sleep, relaxation, and focus. The FRENZ Brainband can track vital data points in real-time, provide instant personalised feedback with cognitive behavioural therapy content via the integrated bone-conduction speakers, and use AI and machine learning algorithms to provide meaningful insights to enhance mental well-being for individuals. Excelpoint will be the exclusive procurement partner for the electronics components used for the production of FRENZ Brainband and provide favourable procurement terms to support Earable Neuroscience in the commercialisation phase. Additionally, PlanetSpark, the entrepreneurial and strategic investment arm of Excelpoint, is exploring options to invest in Earable Neuroscience.
Singapore’s GIC increases stake in AI-driven Pagaya Technologies to 9%
Singapore’s sovereign wealth fund, GIC, has increased its stake in Pagaya Technologies, an Israeli company that offers AI-based software solutions for financial partners in originating consumer credit and real estate loans. GIC purchased an additional 10 million shares at a dollar per share, raising its stake in the company to 9%. The strengthened GIC-Pagaya partnership includes a three-year extension of the original five-year funding agreement, giving GIC rights of first refusal to invest in Pagaya financing vehicles. Although the exact amount of GIC’s investments with Pagaya is undisclosed, this move demonstrates GIC’s confidence in Pagaya’s ability to provide attractive returns. Pagaya’s AI-driven credit and analysis offerings enable lenders to evaluate customers in real-time, building brand affinity without undue risk. Pagaya reported a 49% surge in network volume in 2022 to $7.3 billion, and its total revenue and other income jumped 58% to $749 million.
Actyv.ai elevates four executive leaders as Co-founders
Actyv.ai, a Singapore-based start-up in the enterprise SaaS, B2B BNPL, and insurance space, has promoted four members of its executive leadership team to the position of co-founders. The individuals promoted include Ambarish Ojha, EVP of Customer Engagement; Arunprasad Ram, VP of Product & Engineering; Chandru Sambasivan, Head of Marketing & Business Development; and Sumit Khaneja, President of Business, Banking & Partnerships. The move is aimed at recognizing their contribution to the company’s business strategy and establishing actyv.ai as a global technology player. Additionally, the company is promoting over 50 employees as its Founding Members, Founding Leaders, and Founding Management Partners.
All-in-One AI-Powered Platform Seeks to Save Creators from Burnout and Make Authentic Partnerships with Brands
Animeta, the Singapore-based creator tech company, has unveiled a groundbreaking AI-powered platform that serves as a one-stop-shop for creators and brands worldwide. The platform includes three modules, STARDISCOVERY, STARMAKER, and BRANDSTAR, and aims to alleviate the common problem of creator burnout by providing tailored content and brand strategies. Animeta’s unique content strategy engine, STARMAKER, uses AI to identify successful creative parameters and recommends culturally relevant strategies to maximize creators’ productivity and organic reach. Unlike other creator tech products, Animeta integrates content and influencer marketing, serving both creators and brands. BRANDSTAR utilizes an AI-powered search engine to match brands with appropriate influencers based on their brief, target audience, and campaign objectives. Animeta offers financial investment, data analytics, and business intelligence, as well as content strategy, creative supervision, brand, PR, and social media expertise to deliver data-driven, authentic brand campaigns to its creator partners.
Singapore-based ADA acquires dhiOmics to launch a global data and AI delivery hub
ADA, the leading digital growth partner in South and Southeast Asia, has acquired dhiOmics, a marketing analytics and tech development company, to launch its Global Data and AI delivery hub. This acquisition will help ADA to expand its digital transformation capabilities and deliver to global clients on a larger scale and faster. The hub will use customer data platforms, marketing cloud, and customer engagement platforms and have experts in data engineering, artificial intelligence and machine learning, and cloud infrastructure. With the acquisition of dhiOmics, ADA gains a strong presence in the Indian market, one of the fastest-growing markets globally, and establishes India as a premier delivery hub for global clients. Nilesh Gupta, Founder of dhiOmics, expects the acquisition will expand offerings available to clients in the Indian market, and Prabhat Agarwal, Founder of dhiOmics, looks forward to introducing ADA’s integrated offerings to their clients.