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ΒιΆΉΤ­΄΄ invests S$12 million in its Digital Innovation Accelerator to boost adoption of Business AI in Singapore

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SINGAPORE – 3 OCTOBER 2024 –  today announced the expansion of its Digital Innovation Accelerator in Singapore.ΜύΜύΜύ

Supported by the Digital Industry Singapore (DISG)*, ΒιΆΉΤ­΄΄ will invest S$12 million in the Singapore-based Digital Innovation Accelerator, first launched in 2019. The investment will focus on developing practical applications of artificial intelligence (AI) in industry-specific scenarios, initially focusing on advanced manufacturing, financial services, and travel and logistics services.ΜύΜύ

Since 2019, ΒιΆΉΤ­΄΄ has committed almost S$300 million to developing Business AI and other deep tech in Singapore. This includes establishing Southeast Asia’s first ΒιΆΉΤ­΄΄ Labs in 2022, and Asia’s first innovation centre for experience management (XM) in 2022.

ΒιΆΉΤ­΄΄ Business AI is built into the ΒιΆΉΤ­΄΄ applications that power critical business processes for customers across Asia Pacific and Japan. It comprises a range of AI innovations developed using extensive industry-specific data and deep process knowledge, all created using responsible AI practices.

Announcing the expansion, Eileen Chua, ΒιΆΉΤ­΄΄ Singapore Managing Director, said, β€œSingapore is significantly investing to future-proof its citizens and businesses through initiatives like the National AI Strategy, workforce development programs like SkillsFuture, and its Net Zero ambitions. ΒιΆΉΤ­΄΄β€™s vision to boost local research and innovation will only strengthen the ongoing mission to sharpen Singapore organizations’ competitive advantage on the global stage.”Μύ

β€œCo-innovation initiatives like our Digital Innovation Accelerator are aimed at enabling ΒιΆΉΤ­΄΄ and our customers to rapidly scale digital transformation by tapping into our global expertise and ecosystems. Over the past five years, we’ve co-developed solutions with more than 80 Singapore enterprises, achieving tangible impact in their business processes and international growth,” Ms Chua added.Μύ

Commenting on the announcement, Philbert Gomez, Executive Director & Head, Digital Industry Singapore (DISG), said, β€œΒιΆΉΤ­΄΄ has been a longstanding partner in developing Singapore’s digital ecosystem. The Digital Industry Singapore (DISG) supports the adoption of AI across industries to increase the competitiveness of businesses. We are delighted to partner with ΒιΆΉΤ­΄΄ in the expansion of its Digital Innovation Accelerator, which will work with industry leaders to develop, prototype, and scale AI solutions to advance their sustainability goals from Singapore.”ΜύΜύ

A practical path forward in sector-specific AIΜύΜύ

The expanded ΒιΆΉΤ­΄΄ Digital Innovation Accelerator will see industry leaders work with a dedicated team of in-house ΒιΆΉΤ­΄΄ business architects, data experts, and developers to develop unique AI use cases tailored for their unique business scenarios.ΜύΜύ

The Accelerator team will have an additional focus on sustainability, aiming to create positive climate action outcomes through the application of AI and for use cases, including improved environmental monitoring, reporting, and optimized supply chains.ΜύΜύΜύ

Commenting on the decision to work with ΒιΆΉΤ­΄΄β€™s Digital Innovation Accelerator team, Khoo Boo Hor, CEO and Executive Director of precision plastics manufacturer Sunningdale Tech, said, β€œΒιΆΉΤ­΄΄β€™s new industry-focused AI development initiative comes at a timely moment for Sunningdale, as we continue to drive long-term sustainable growth. We expect AI-driven solutions to help us make predictions and forecasts with greater accuracy and reduce overproduction and machine underutilization. We also hope to leverage artificial intelligence to enhance our analysis and usage of corrugated boxes as we strive to reduce wastage across our operations.”Μύ

β€œWhile AI is only just starting to be applied to climate-related scenarios, leading organizations are already demonstrating the promise of AI for climate impact and delivering results. Combined with ΒιΆΉΤ­΄΄β€™s sustainability solutions, these initiatives aim to support Singapore to achieve Net Zero by 2050,” said Ms Chua.ΜύΜύΜύ

Bolstering talent pipeline with AI coursesΜύ

Over the past five years, ΒιΆΉΤ­΄΄ has collaborated closely with theΜύSingapore Government under the SkillsFuture programΜύto support and upskill over 1,000 mid-career professionals to teach practical and hands-on digital skills.Μύ

ΒιΆΉΤ­΄΄ has also invested in and launched and plans to introduce certification courses on Business AI later this year.ΜύΜύ

β€œThese new, on-going, and upcoming initiatives are testament of ΒιΆΉΤ­΄΄β€™s continuous commitment to build Singapore’s digital and technology capabilities across all sectors and levels of the economy, from shaping budding talents to transforming mature enterprises. We look forward to extending our long-term partnership with Singapore to build the future of AI-enabled enterprises,” said Ms Chua.Μύ

* Digital Industry Singapore (DISG) is an alliance between the Singapore Economic Development Board (EDB), Enterprise Singapore (EnterpriseSG) and Infocomm Media Development Authority (IMDA), leading tech industry development in Singapore.Μύ

About ΒιΆΉΤ­΄΄Μύ

Asβ€―a global leader in enterprise applications and business AI, ΒιΆΉΤ­΄΄ (NYSE:ΒιΆΉΤ­΄΄)β€―stands at theβ€―nexusβ€―of business and technology. For over 50 years, organizations have trusted ΒιΆΉΤ­΄΄β€―to bring out their best by uniting business-criticalβ€―operations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visitβ€―.Μύ

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This document contains forward-looking statements, which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions that are subject to risks and uncertainties that could cause actual results and outcomes to materially differ. Additional information regarding these risks and uncertainties may be found in our filings with the Securities and Exchange Commission, including but not limited to the risk factors section of ΒιΆΉΤ­΄΄β€™s 2023 Annual Report on Form 20-F.Μύ

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