Know more about the latest AI news in Singapore for the entire month of January 2023 only here at SGBusinessTalk.
AI medical imaging startup Qritive raises $7.5M in latest funding
Qritive, a Singapore-based startup that uses AI to improve medical imaging analysis, has raised $75 million in its latest funding round. The startup’s technology is designed to help radiologists, and other healthcare professionals detect and diagnose diseases more accurately and efficiently. Qritive’s platform uses machine learning algorithms to analyze medical images and provide real-time insights, helping to reduce the time and cost associated with traditional imaging techniques. The funding round was led by Sequoia Capital India and included participation from other investors, including MassMutual Ventures and EDBI. The funds will be used to expand Qritive’s operations in Asia and to develop new AI-powered solutions for medical imaging analysis.
How Singapore is developing trustworthy AI
Singapore is positioning itself as a leader in trustworthy artificial intelligence (AI) by implementing measures to ensure the technology is used ethically and responsibly. The country’s approach to AI governance includes establishing a National AI Office, which coordinates the development and deployment of AI across various sectors. Additionally, the government has created a set of ethical principles for AI, prioritizing human well-being and protecting personal data. Singapore is also investing in research and development of AI technologies that can be used to address social and environmental challenges. The country’s efforts to promote trustworthy AI will be showcased at the World Economic Forum’s annual meeting in Davos, where Singapore will participate in a panel discussion on AI governance.
actyv.ai Raises Pre-Series A Funding to Fuel Global Expansion, Product Enhancement
Actyv.ai, a startup that uses AI-powered chatbots to improve customer service, has raised an undisclosed amount of funding in a pre-Series A round. The grant was led by Accion Venture Lab and included participation from other investors, including Unbound and Future Africa. Actyv.ai’s chatbots are designed to automate customer service tasks, such as answering frequently asked questions and processing orders, freeing human agents to focus on more complex issues. The startup plans to use the funding to expand its operations globally and enhance its product offerings. Actyv.ai is currently focused on the African market, which has already deployed its chatbots for several e-commerce and financial services clients.
AIA’s Amplify Health Acquires AI Startup AiDA Technologies
AIA’s health tech subsidiary, Amplify Health, has acquired AIDA Technologies, an AI startup specializing in predictive analytics and machine learning. The acquisition will allow Amplify Health to enhance its AI-powered health tech solutions and expand its capabilities in areas such as risk management and personalized healthcare. AIDA Technologies’ AI algorithms are designed to analyze large amounts of data from various sources, including medical records and wearables, to generate insights to help healthcare providers make more informed decisions. The acquisition comes as AIA continues to expand its presence in the health tech sector following the launch of Amplify Health in 2021.
Singapore-based cybersecurity startup Blackpanda nets $15m
Blackpanda, a Singapore-based cybersecurity startup, has raised $15m in a funding round led by Taiwan-based Wistron Digital Technology Holding Company. The startup provides cybersecurity services to businesses and organizations across the Asia Pacific, including incident response, digital forensics, and threat intelligence. Blackpanda’s team comprises former military and law enforcement personnel with cybersecurity, intelligence gathering, and crisis management expertise. The funding will be used to expand Blackpanda’s operations in the region and further develop its cybersecurity technology solutions.
Green coffee collaboration leverages AI-tech to detect defects and unlock production insights
A new green coffee collaboration between Singapore-based food company Olam International and technology company At One Ventures is leveraging AI technology to detect defects and gain insights into the production process. The partnership uses computer vision and machine learning algorithms to analyze images of green coffee beans and identify any flaws or inconsistencies in their quality. This technology allows for greater precision in the production process and could help reduce waste and improve product quality. Olam International is a significant player in the global coffee industry, and this partnership is part of its efforts to adopt innovative technologies to enhance its operations.
Singapore pushes for fairer AI amid bias fears
The Infocomm Media Development Authority (IMDA) of Singapore has launched a new initiative to address concerns about the potential biases in AI systems. The Fairness, Ethics, Accountability, and Transparency (FEAT) programme is intended to promote the development of AI systems that are fair, transparent, and accountable and to build public trust in the technology. The programme includes guidelines and frameworks for developers and organizations to ensure their AI systems are unbiased and discrimination-free. The IMDA is working with various partners from the private and public sectors to develop these guidelines and to promote the adoption of ethical AI practices. The FEAT programme is part of Singapore’s broader efforts to establish itself as a global AI research and development hub.
China’s PLA aims to leverage advanced technology for use of unmanned weapons, artificial intelligence, says report
China’s People’s Liberation Army (PLA) is seeking to incorporate advanced technologies, such as uncrewed weapons and artificial intelligence (AI), into its military operations, according to a report in The Economic Times. The PLA reportedly invests in these technologies’ research and development to gain a strategic advantage in modern warfare. The report suggests that the PLA’s interest in uncrewed weapons and AI is part of a broader trend in which militaries worldwide explore the potential uses of advanced technologies in military operations. The PLA has already developed several uncrewed aerial vehicles and has invested in AI-based surveillance systems, among other technologies. The report raises concerns about the potential for these technologies to be used in conflict situations and their impact on international security.
Read more: https://economictimes.indiatimes.com/news/defence/chinas-pla-aims-to-leverage-advanced-technology-for-use-of-unmanned-weapons-artificial-intelligence-says-report/articleshow/97431564.cms?from=mdr
Hawk AI raises $17m in Series B round to prevent financial fraud
Hawk AI, a London-based regtech startup that uses AI to help banks detect money laundering and fraud, has raised $17m in a funding round led by European venture capital firm Latitude. The company’s platform uses AI to analyze large amounts of data from various sources and identify potential financial crime risks. The funding will be used to expand the company’s global presence and invest in developing new AI-powered tools to help financial institutions combat financial crime. Several central banks and financial institutions already use Hawk AI’s technology in Europe and the US, including Deutsche Bank and Standard Chartered.
Singapore’s SuperMom closes $6M oversubscribed Series A funding round led by Qualgro
Singapore-based grocery delivery startup SuperMom has closed a $6m oversubscribed Series A funding round led by venture capital firm Qualgro. SuperMom offers a platform that connects consumers with a network of local grocery stores and farms, allowing them to order fresh produce and other home-delivery items. The company plans to use the funding to expand its services in Singapore and explore opportunities for growth in other markets in the Asia-Pacific region. SuperMom has seen a substantial increase in demand for its services during the Covid-19 pandemic, as consumers have increasingly turned to online shopping and home delivery for their grocery needs.