Changing the business landscape with AI

ARTIFICIAL intelligence (AI) is a powerful workforce multiplier that is changing the business landscape. From virtual medical assistance to data analytics, AI enhances productivity and frees up time for tasks that require human insight, by augmenting and automating routine activities.

The Covid-19 pandemic has increased the impetus to innovate and digitalise. This is a crucial factor in the proliferation of AI adoption by companies, as they accommodate remote work arrangements and revamp processes. Technology has become a cornerstone in the new normal.

What kind of AI startups does EDBI look out for?

Promising AI startups with the potential to become category leaders would be interesting as they accelerate AI adoption, deepen capabilities and help strengthen Singapore's industry ecosystems. The fundamental qualities would include the following, with examples of our portfolio companies which are operating out of Singapore.

Local transport solutions firm SWAT Mobility's machine learning and AI vehicle-routing solution is helping regional companies better plan efficient transportation routes for both riders and factory bus operators, optimising travelling time while reducing the number of vehicles needed on the roads.