Within Infineon’s AI solutions development plan, the company will engage with the semiconductor, electronics and innovation ecosystems in Singapore through collaborations with SGInnovate, local startups, institutes of higher learning and research institutions.
Blaize offers transformative edge computing solutions for AI data collection and processing at the edge of network, with a focus on smart vision applications including automobility, retail, security, industrial and metro. Blaize has secured US$87M in equity funding to date from strategic and venture investors DENSO, Daimler, SPARX Group, Magna, Samsung Catalyst Fund, Temasek, GGV Capital, Wavemaker and SGInnovate.
SGInnovate has launched Deep Tech for Good, a new initiative that seeks to accelerate the development and use of Artificial Intelligence (AI) and other frontier technologies to improve the human condition and drive sustainable development across different markets. The initiative was launched at a virtual event with an international line-up of experts sharing their perspectives on how Deep Tech can be advanced for social and economic good.
THE Monetary Authority of Singapore (MAS) will be developing "fairness metrics" in credit risk scoring and customer marketing as part of the first phase of its Veritas initiative. The Veritas consortium currently comprises MAS, SGInnovate, EY, CFA Society Singapore, the Bankers Association for Finance & Trade, tech giants Amazon Web Services and Microsoft, IAG Firemark Labs and Gradient Institute, Element AI, and 16 financial institutions.
On 18 February 2020, the Singapore government announced the budget allocation for the year. One of the highlights of the budget was the S$300 million (US$215 million) additional funds set aside to support startups in the Deep Tech sector. The government noted the larger investment and longer gestation period required by Deep Tech investments as the reason why the sector was given special attention in this budget.
Singapore Business Review reported that MAS has joined a consortium of financial industry partners to introduce Veritas, a framework promoting the adoption of AI and Data Analytics (AIDA)-driven solutions. The framework will enable financial institutions to evaluate their AIDA-driven solutions against the principles of fairness, ethics, accountability and transparency (FEAT). Veritas will comprise of open source tools that can be applied to different business lines, such as retail banking and corporate finance, and in different markets. The platform will focus on use cases in three areas, customer marketing, risk scoring and fraud detection for a start. The Veritas consortium is currently made up of 17 members, comprising MAS, SGInnovate, EY and 14 other financial institutions.