The collaboration is timely with the recent visit of Prime Minister of Canada Justin Trudeau at Canada Fintech Forum in Singapore Fintech Festival
Signing on a new agreement with its longtime collaborator Singapore, Canadian AI software company Element AI will jointly develop products focused in the financial sector, enhance local talent, scale commercial Artificial Intelligence solutions, and embark on global research collaborations
Element AI is a Canada-based AI software that creates products to help augmenting decisions to make businesses safer, stronger, and more agile has announced partnerships with GIC, SGInnovate, and Singapore Management University (SMU) at an event attended by the Prime Minister of Canada, Justin Trudeau.
The signing of the partnership was accompanied by Minister of International Trade Diversification Jim Carr and Singapore Minister for Communications and Information H.E. S Iswaran.
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With the partnership, Element AI will be replicating the model by working with key Singapore based corporations, startup incubators, and research institutions to turn the latest academic findings into AI products that can be integrated and customised at scale.
“Singapore’s technology ecosystem is familiar to us at Element AI because it’s that environment that led to the creation of our company, so we’re thrilled to be signing agreements with these like-minded partners today. We will focus on augmenting collective intelligence and transforming industry as we know it with the help of role-centric AI products,” said Element AI CEO Jean-François Gagné.
AI ecosystem in Singapore is considered unique in its ability to integrate government, academia and private enterprise efforts to advance technology adoption in AI.
One of the collaborators, GIC, is known for the innovation labs and the acceleration use of innovative technologies to incubate new ideas. The focus of the collaboration sparked between GIC and Element AI will be the application of advanced machine learning techniques to challenging problems encountered by large asset managers.
Meanwhile, SGInnovate will work together with Element AI to prioritise the expansion of the deep tech talent pool in Singapore, and the development of the technology startup ecosystem, especially those of AI-related startups in ASEAN.
With AI as one of its Computer study concentration, SMU adopts an integrated research-teaching-learning-practice approach that creates a positive impact on business, government, and society.
The recent AI-related achievement of SMU School of Law was the U4S$4.5 million grant by the Singapore National Research Foundation to establish a Centre for AI and Data Governance (CAIDG), launched publicly in September 2018.
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In their partnership, SMU will be responsible for carrying out the Singaporean and ASEAN aspects of research while Element AI will focus on the North American aspects as well as leverage its global researcher network to deliver issues and recommendation papers.
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