ZDNet reported that even as AI comes increasingly under the spotlight for its adverse potentially adverse impact on human lives, Singapore is advocating the need to hold off judgement whilst the technology continues to evolve and focus instead on building trust. Speaking at the Bloomberg Live’s ‘Sooner Than You Think’, S. Iswaran, Singapore's Minister for Communications and Information and Minister-in-charge of Trade Relations shared that Singapore was focused on verticals that were relevant to the nation and, hence, on developing applications that could be scaled locally, regionally, and worldwide. These domains included healthcare, education, and transport, and its initiatives encompassed research and development work, skillsets and training, and working with the private sector to build applications. Founding CEO of SGInnovate, Steve Leonard, echoed the minister’s call for trust and explainable AI, noting that the technology was an ongoing development and important concepts would surface along the way. He added that it would be ineffective to attempt to react to issues in advance and that societies have to be open as this concept was “imperfect” and know that some people would “misbehave”, and address these with rules and guidelines. Otherwise, they would miss opportunities in tapping AI to solve real-world problems.
Bloomberg published an interview with Sutapa Amornvivat, CEO of SCB Abacus, Soo Boon Koh, Founder and Managing Partner of iGlobe Partners and Steve Leonard, Founding CEO of SGInnovate on Bloomberg Live’s ‘Sooner Than You Think’, where Dr Sutapa shared that AI is part of the major force behind the latest developments in not just the financial services but also in manufacturing and agriculture. Founding CEO of SGInnovate, Steve Leonard, shared that SGInnovate believes that AI is not just going to be omnipresent but that we ought to embrace it. Although there are issues such as data privacy, ethics and guidelines which need to be discussed, these are concepts that people need to think about along a journey, not something which must be answered in advance.
Xinhua Net published an interview with Steve Leonard, founding CEO of SGInnovate, where he shared that AI would be able to solve some of the big problems the world has. According to him, AI should be viewed as a set of tools which are both inevitable and important. Steve pointed out that while there’s a lot of technology focussed on consumer convenience, he believed that we need to be utilising tools such as AI to deal with hard problems and life or death problems. To that end, SGInnovate has invested in one Australian deep tech company, See-Mode, which uses computer vision and AI tools to run a series of models that gives us new insights and helps us know more accurately the people we have to keep a special eye on or to provide a different level of care for. Steve added that Australia is moving forward and has the opportunity to be a significant leader in AI technology.
Australian Financial Review published an article based on an interview with SGInnovate’s Founding CEO, Steve Leonard, who is in Australia this week meeting with Victorian state government officials and local Deep Tech startups, setting up networks down under to help support local scientists looking to commercialise research so they can do business with Singapore. While Steve doesn’t disclose the size of SGInnovate’s fund, the organisation has deployed AU$42 million in capital into about 65 investments since its launch, which has gone on to raise another AU$458 million. Because most of the companies SGInnovate backs are pre-revenue and usually don’t have a business plan, the team bases the investment decisions on the personalities and experience of the founders. “Talking far-edge, Deep Tech, it’s about as deep as you can get. We have no idea if it’s going to be successful or not, we can’t sit down and calculate the probabilities, but we believe in the founders… and if they’re right it will be something we’re sitting down chatting about in 10 years,” he said. Two Deep Tech startups with presence in the Australia market that SGInnovate has backed are computer vision company See-Mode, and non-chemical water purification company Hydroleap.
Holmes Report reported that the impact of AI on communications will be discussed at the 2019 Asia-Pacific IN2 Innovation Summit, which will take place in Singapore on 12 September. According to a recent Deloitte survey, 76 percent of executives said they expected AI to “substantially transform” their companies within three years. Vic Sithanasan, chief growth officer at AI startup Hyperlab, will be joined by SGInnovate deputy director of communications Grace Chiang and BCW Asia-Pacific digital innovation head Joe Peng, for a session focusing on how AI is changing the way humans communicate, and the role that communications practitioners must play in the adoption of this technology.