Leaders Roundtable: Bridging the Gap: Practical Steps to Drive AI Adoption in BFSI

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Leaders Roundtable: Bridging the Gap: Practical Steps to Drive AI Adoption in BFSI

The AI revolution is in full swing, with seemingly all enterprises caught up in the excitement.

But a sobering reality confronts BFSI data and tech leaders. Under pressure to deliver quick wins, they struggle with assessing and prioritising truly impactful AI use cases. Even successful pilots often hit a wall when scaled, leaving organisations frustrated and questioning their AI roadmap.

Singapore’s BFSI Sector: Unveiling the AI Adoption Gap

  • 70% lack a comprehensive AI strategy, encompassing not just technology but also human factors like change management.
  • 60% struggle with AI skills and awareness – with only 15% confident of their internal AL/ML capabilities.
  • 40% grapple with identifying impactful use cases, despite investments and research.

How can BFSI organisations tackle the key roadblocks to move beyond proof-of-concepts and become AI powerhouses, unlocking efficiency, personalised experiences, and data-driven decision making?

Looking forward to welcoming you to this impactful session where you will be joined by your industry peers for a discussion on immediate steps to take on

  • Finding the Right Fit. Uncover industry best practices for identifying high-impact AI use cases within your organisation.
  • Building Buy-In. Overcome employee resistance and drive AI adoption through effective communication and training.
  • Responsible AI. Learn strategies to establish clear internal governance guardrails for ethical and responsible AI development.
  • Fueling AI Roadmap with GenAI. Discover how GenAI can act as a strategic lever, accelerating your organisation’s AI transformation.
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Leaders Roundtable: The Future of Work Redefined: Managing Dispersed Teams & Disconnected Technology

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Leaders Roundtable: The Future of Work Redefined: Managing Dispersed Teams & Disconnected Technology

Singapore’s upcoming regulation requiring formal flexible work arrangements underscores a crucial aspect of the future of work: collaboration.

To empower flexible work, CHROs and CIOs need to collaborate to create an AI-powered environment that prioritises collaboration and productivity. This allows organisations to personalise employee experiences, improve efficiency, and ultimately, build a more engaged workforce.

Singapore Knowledge Workers Demand Tech for Better Experience

  • 67% have a strong dependence on digital tools for collaboration and productivity.
  • 83% demand continuous evolution and improvement in employee experience technologies from their employers.
  • 59% believe that enhanced productivity contributes to increased employee loyalty.
    Source: Ecosystm, 2024

However, a flexible work environment presents a new challenge: building trust, fostering a strong culture, and maintaining employee engagement when teams aren’t always physically together. In this new landscape, leaders must find innovative ways to connect their workforce and create a sense of belonging, even when employees are dispersed.

Join this discussion to find out best practices in:

  • Transforming Collaboration and Communication. Explore how AI-powered platforms can boost productivity in a digital workplace.
  • Building Trust and Engagement in the Workplace. Discover strategies to capture employee sentiment and strengthen corporate culture across dispersed teams.
  • Managing the Tech Chaos. Learn how to overcome the challenges of disconnected collaboration tools, streamlining your digital workplace for a smoother experience.
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Transforming Data Centres: Equinix’s Platform and Service Integration

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As AI evolves, the supporting infrastructure has become a crucial consideration for organisations and technology companies alike. AI demands massive processing power and efficient data handling, making high-performance computing clusters and advanced data management systems essential. Scalability, efficiency, security, and reliability are key to ensuring AI systems handle increasing demands and sensitive data responsibly.

Data centres must evolve to meet the increasing demands of AI and growing data requirements.

Equinix recently hosted technology analysts at their offices and data centre facilities in Singapore and Sydney to showcase how they are evolving to maintain their leadership in the colocation and interconnection space.

Equinix is expanding in Latin America, Africa, the Middle East, and Asia Pacific. In Asia Pacific, they recently opened data centres in Kuala Lumpur and Johor Bahru, with capacity additions in Mumbai, Sydney, Melbourne, Tokyo, and Seoul. Plans for the next 12 months include expanding in existing cities and entering new ones, such as Chennai and Jakarta.

Ecosystm analysts comment on Equinix’s growth potential and opportunities in Asia Pacific.

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Click here to download ‘Transforming Data Centres: Equinix’s Platform and Service Integration’ as a PDF

Small Details, Big Impact

TIM SHEEDY. The tour of the new Equinix data centre in Sydney revealed the complexity of modern facilities. For instance, the liquid cooling system, essential for new Nvidia chipsets, includes backup cold water tanks for redundancy. Every system and process is designed with built-in redundancy.

As power needs grow, so do operational and capital costs. The diesel generators at the data centre, comparable to a small power plant, are supported by multiple fuel suppliers from several regions in Sydney to ensure reliability during disasters.

Security is critical, with some areas surrounded by concrete walls extending from the ceiling to the floor, even restricting access to Equinix staff.

By focusing on these details, Equinix enables customers to quickly set up and manage their environments through a self-service portal, delivering a cloud-like experience for on-premises solutions.

Equinix’s Commitment to the Environment

ACHIM GRANZEN. Compute-intensive AI applications challenge data centres’ “100% green energy” pledges, prompting providers to seek additional green measures. Equinix addresses this through sustainable design and green energy investments, including liquid cooling and improved traditional cooling. In Singapore, one of Equinix’s top 3 hubs, the company partnered with the government and Sembcorp to procure solar power from panels on public buildings. This improves Equinix’s power mix and supports Singapore’s renewable energy sector.

TIM SHEEDY Building and operating data centres sustainably is challenging. While the basics – real estate, cooling, and communications – remain, adding proximity to clients, affordability, and 100% renewable energy complicates matters. In Australia, reliant on a mixed-energy grid, Equinix has secured 151 MW of renewable energy from Victoria’s Golden Plains Wind Farm, aiming for 100% renewable by 2029.

Equinix leads with AIA-rated data centres that operate in warmer conditions, reducing cooling needs and boosting energy efficiency. Focusing on efficient buildings, sustainable water management, and a circular economy, Equinix aims for climate neutrality by 2030, demonstrating strong environmental responsibility.

Equinix’s Private AI Value Proposition

ACHIM GRANZEN. Most AI efforts, especially GenAI, have occurred in the public cloud, but there’s rising demand for Private AI due to concerns about data availability, privacy, governance, cost, and location. Technology providers in a position to offer alternative AI stacks (usually built on top of a GPU-as-a-service model) to the hyperscalers find themselves in high interest. Equinix, in partnership with providers such as Nvidia, offers Private AI solutions on a global turnkey AI infrastructure. These solutions are ideal for industries with large-scale operations and connectivity challenges, such as Manufacturing, or those slow to adopt public cloud.

SASH MUKHERJEE. Equinix’s Private AI value proposition will appeal to many organisations, especially as discussions on AI cost efficiency and ROI evolve. AI unites IT and business teams, and Equinix understands the need for conversations at multiple levels. Infrastructure leaders focus on data strategy capacity planning; CISOs on networking and security; business lines on application performance, and the C-suite on revenue, risk, and cost considerations. Each has a stake in the AI strategy. For success, Equinix must reshape its go-to-market message to be industry-specific (that’s how AI conversations are shaping) and reskill its salesforce for broader conversations beyond infrastructure.

Equinix’s Growth Potential

ACHIM GRANZEN. In Southeast Asia, Malaysia and Indonesia provide growth opportunities for Equinix. Indonesia holds massive potential as a digital-savvy G20 country. In Malaysia, the company’s data centres can play a vital part in the ongoing Mydigital initiative, having a presence in the country before the hyperscalers. Also, the proximity of the Johor Bahru data centre to Singapore opens additional business opportunities.

TIM SHEEDY. Equinix is evolving beyond being just a data centre real estate provider. By developing their own platforms and services, along with partner-provided solutions, they enable customers to optimise application placement, manage smaller points of presence, enhance cloud interconnectivity, move data closer to hyperscalers for backup and performance, and provide multi-cloud networking. Composable services – such as cloud routers, load balancers, internet access, bare metal, virtual machines, and virtual routing and forwarding – allow seamless integration with partner solutions.

Equinix’s focus over the last 12 months on automating and simplifying the data centre management and interconnection services is certainly paying dividends, and revenue is expected to grow above tech market growth rates.

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Making Concrete Change: Strategies for Carbon Reduction in Urban Development

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Despite an increase in energy efficiency investment, the construction sector’s energy consumption and CO₂ emissions have rebounded to an all-time high. Buildings currently contribute 39% of global energy-related carbon emissions – 28% from operational needs like heating and cooling, and 11% from construction materials.

In the next three decades, with the global population expected to reach 9.7 billion, the construction industry will face the pressure to meet growing infrastructure and housing demands while adapting to stricter environmental regulations.

The urgency of climate action demands that governments mandate low-carbon practices in urban development.

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Click here to download ‘Making Concrete Change: Strategies for Carbon Reduction in Urban Development’ as a PDF

Increase Use of Low-Carbon Materials

Traditional building materials like concrete, steel, and brick are strong and durable but environmentally costly. This high embodied carbon footprint is prompting a shift towards low-carbon alternatives. Indonesia is using ‘green cement’ – made using environmentally friendly materials – in the development of its new futuristic capital Nusantara. This has led to an estimated reduction in carbon emissions of up to 38% per tonne of cement so far.

Nordic countries are setting ambitious targets for low-carbon materials. Starting in 2025, Finland will require life cycle assessments and material declarations in construction to reduce emissions, detailing building components and material origins. Denmark is also prioritising low-carbon materials through energy-efficient designs, sustainable materials, and stringent building codes.

Mandate Whole-Life Carbon Emission Assessments

Whole Life-Cycle Carbon (WLC) emissions encompass all the carbon a building generates throughout its lifespan, from material extraction to demolition and disposal. Assessing WLC gives a comprehensive understanding of a building’s total environmental impact.

The London Plan is a roadmap for future development and achieving the goal of a zero-carbon city. The plan includes provisions for WLC analysis, specific energy hierarchies, and strategies to reduce London’s carbon footprint.

With a bold vision of a fully circular city by 2050, the Amsterdam Circular Strategy 2020-2025 lays out a comprehensive roadmap to achieve this goal. Key elements include mapping material flows to reduce reliance on virgin resources and mandating WLC assessments.

Enforce Clean Construction Standards

From green building codes to tax incentives, governments around the world are implementing innovative strategies to encourage sustainable building practices.

The Philippines’ National Building Code requires green building standards and energy efficiency measures for new buildings.

Seattle offers expedited permits for projects meeting embodied carbon standards, speeding up eco-friendly construction, and reinforcing the city’s environmental goals.

New Jersey offers businesses a tax credit of up to 5% for using low-carbon concrete and an additional 3% for concrete made with carbon capture technology.

Promote Large-Scale Adaptive Reuse

Large-scale adaptive reuse includes reducing carbon emissions by making existing buildings and infrastructure a larger part of the climate solution.

London’s Battersea Power Station restored its iconic chimneys and Art Deco façade, transforming it into a vibrant hub with residential, commercial, and leisure spaces.

The High Line in New York has been transformed into a public park with innovative landscaping, smart irrigation, and interactive art installations, enhancing visitor experience and sustainability.

Singapore using adaptive reuse to rejuvenate urban and industrial spaces sustainably. The Jurong Town Corporation is repurposing a terrace factory for sustainable redevelopment and preserving industrial heritage. In Queenstown, historical buildings in Tanglin Halt are being reused to maintain historical significance and add senior-friendly amenities.

Establish Circular Economy

As cities worldwide start exploring ways to go circular, some are already looking into different ways to leverage innovative practices to implement circular initiatives.

Toronto is embedding circular criteria into procurement by requiring circular economy profiles, vendor action plans, and encouraging circular design for parklets. The city also recommends actions for transitioning to a circular economy and is developing e-learning on circular procurement for staff.

Japan uses Building Information Modeling to optimise resource consumption and reduce waste during construction, with a focus on using recycled materials to promote sustainability in building projects.

Adopt Electric Vehicles

The share of EVs increased from 4% in 2020 to 18% in 2023 and is expected to grow in 2024. This trend reflects a global shift toward cleaner transportation, driven by technological advancements and rising environmental awareness.

The Delhi EV Policy aims to expand charging infrastructure and incentives, targeting 18,000 charging points by 2024, with 25% EV registrations and one charging outlet per 15 EVs citywide.

Singapore is adopting EVs to reduce land transport emissions as part of its net-zero goal, aiming to cut emissions by 1.5 to 2 million tonnes. The EV Roadmap targets cost parity with internal combustion engine (ICE) vehicles and 60,000 charging points by 2030.

Australia has set new rules to limit vehicle pollution, encouraging car makers to sell more electric vehicles and reduce transportation pollution.

Promote Circular Economy Marketplaces

Circular marketplaces play an important role in the new economy, changing the way we use, manufacture, and purpose materials and products.

The UK’s Material Reuse Portal aggregates surplus construction materials post-deconstruction, offering guidance and connections to service providers. It integrates with various data sources, can be customised for different locations, and provides free access to sustainable materials. Future plans include expanding marketplace partnerships to enhance material reuse.

Build Reuse is a US-based online marketplace specialising in salvaged and surplus building materials. It connects buyers and sellers for reclaimed items like wood, bricks, fixtures, and architectural elements, promoting resource efficiency and reducing construction waste.

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Harnessing Quantum Potential: Government and Technology Investments for Tomorrow

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Quantum computing is emerging as a groundbreaking force with the potential to reshape industries and enhance national security with unparalleled speed and precision. Governments and technology providers worldwide are heavily investing in this transformative technology, which promises significant advancements in areas such as cryptography, drug development, AI, and finance. Countries like Australia, Singapore, Taiwan, Qatar, and the UK are investing heavily in quantum research, backed by tech giants like Nvidia, IBM, and Google.

Ecosystm research finds that nearly 30% of enterprises are expecting to use quantum computing in the next 5 years.

Beyond Bits: Exploring the Potential of Quantum Computers

We need quantum computers because they have the potential to solve certain problems that are impossible (or impractical) for classical computers. Last year, Google led a study revealing that its quantum processor can complete a task in 6.18 seconds that would take a traditional supercomputer 47 years.

Here are a few reasons why quantum computing is exciting:

Unleashing the power of qubits. While classical computers use bits that can be either 0 or 1, quantum computers use qubits, which can exist in both states simultaneously (a state called superposition). This allows them to explore multiple possibilities simultaneously, making them significantly faster for specific tasks.

Tackling complex problems. Problems like simulating molecules or breaking complex encryption codes involve massive calculations. Quantum computers, with their unique properties, can manage these complexities more efficiently.

Revolutionising specific fields. Quantum computing has the potential to transform areas such as materials science, drug discovery, AI, and financial modelling. By simulating complex systems and processes, they could lead to breakthroughs in various sectors.

Quantum computers will not replace traditional computers entirely, but rather function as powerful tools for specific tasks beyond the reach of classical machines. Let’s look at cybersecurity as an example.

Twenty years ago, hacking was a basic task. Imagine a time before social media, when a simple computer and basic technical know-how were enough to breach a network. The stakes were low, the landscape uncomplicated. But technology, like threats, has evolved. Today’s hackers use sophisticated techniques, employing strategies like “harvest now, decrypt later” – stealing data today to decrypt later using more powerful machines. This is where quantum computing enters the scene, posing a significant threat to current encryption methods. In response, tech giants like Google, Apple, and Zoom are implementing quantum-resistant encryption into their software, safeguarding user data from potential future decryption attempts. Governments and telecommunication providers worldwide are boosting quantum encryption to tackle the potential security crisis.

The thrill of quantum computing lies in its infancy. Unforeseen applications, beyond our current imagination, could be unlocked as the technology matures.

Current Quantum Projects Focused on Security

First Scalable Network Secures Maritime Trade. The Netherlands is improving the resiliency of transport infrastructure in their own major international maritime hub, using quantum. The Port of Rotterdam Authority joined a collection of quantum technology firms to create a comprehensive cybersecurity ecosystem – the first of its kind globally. The port uses quantum technology to safeguard sensitive information, improving safety for the seagoing vessels carrying 470 million tonnes of cargo annually.

UK Integrates Quantum Navigation for Secure Air Travel. The UK is improving its digital transport infrastructure by integrating the first ever un-jammable aviation navigation system, powered by quantum software. This initiative was prompted by an incident where a government plane carrying the UK defence secretary had its GPS signal jammed close to Russian territory. This technology ensures safe and reliable navigation for aircraft, particularly in hostile environments. The UK government is investing USD 56 million into their quantum sector, aiming to become a quantum-enabled economy by 2033.

Governments Putting Faith in Quantum

Taiwan’s First Domestic 5-Qubit Computer. Taiwan is aiming to be a leader in quantum computing by building its first domestic machine by 2027. This initiative is part of a larger USD 259 million, five-year plan for quantum technology, and has a multi-pronged approach including building the actual quantum computer hardware; developing solutions to secure data in a world with quantum computers (quantum cryptography); creating a strong supply chain for quantum computing components within Taiwan; and collaborating with international partners to develop testing platforms and expertise.

Singapore Explores Real-World Applications. The Singaporean government has pledged USD 518 million to their National Quantum Strategy (NQS). This investment will provide the necessary resources to explore real-time applications of quantum technology in healthcare and technology. Simultaneously, they launched the National Quantum Processor Initiative (NQPI) to develop quantum sensors that will aid in research. Singapore aims to lead the world in quantum tech for investment portfolios, cryptography, and drug discovery.

Australia Aiming for World’s First Utility-Scale Machine. Backed by a USD 620 million investment from the Australian and Queensland governments, PsiQuantum aims to build a fault-tolerant computer that can solve previously challenging problems in fields like renewable energy, healthcare, and transportation. PsiQuantum’s innovative “fusion-based architecture” tackles scaling challenges by using millions of light-based qubits, paving the way for a new era of computational power and potentially sparking the next industrial revolution. This project positions Australia as a global leader in harnessing the immense potential of quantum computing.

Tech Companies Making the Quantum Leap

IBM Enhances Quantum Performance. IBM’s latest quantum computing platform, Qiskit 1.0, has worked on features that enhance performance, stability, and reliability. The updated open-source SDK aims to facilitate accessible quantum programming and accelerate processing times. Qiskit 1.0 uses optimised circuits to create and manage the interplay between classical and quantum computing. IBM is even collaborating with Japan’s AIST to develop a 10,000-qubit quantum computer by 2029, which is 75 times more powerful than current systems.

Microsoft and Quantinuum Achieve Reliable Logical Qubits. This significant milestone is said to mark a new era of dependable quantum technology, dramatically reducing errors and enhancing the precision of quantum computations. They have demonstrated an 800x improvement in error rates, paving the way for hybrid supercomputing systems that combine AI, high-performance computing (HPCs), and quantum capabilities to tackle scientific problems, with new capabilities becoming available to Azure Quantum Elements customers in the coming months.

Quantum Cloud Services for Enterprise. Major tech players QMware, Nvidia, and Oracle are teaming up to create hybrid quantum computing service for businesses. Combining classical and quantum computing, the project aims to crunch complex problems in AI, machine learning, and optimisation – all in the cloud.

Building Towards a Quantum Future

In the short term, using HPCs with quantum algorithms can already provide noticeable speed improvements over traditional methods. Hybrid approaches, where HPCs and quantum computers work together, could lead to significant gains in speed and efficiency, potentially ranging from 10x to 100x improvement.

Three strategies: quantum-inspired, hybrid, and full-scale quantum computing each offer distinct advantages.

While quantum-inspired computing leverages quantum algorithms to run on classical systems, hybrid computing combines classical and quantum processors, optimising the strengths of both to take complex problems more efficiently. Intuitively, full-scale quantum computing represents the ultimate goal, where large, fault-tolerant quantum computers solve problems beyond the reach of current classical systems.

Looking further ahead, the development of large-scale quantum computers could revolutionise industries by solving problems far beyond the reach of classical computers, with potential speedups of 500x to 1000x.

As quantum technology progresses, different industries and applications will benefit from tailored approaches that best suit their unique needs.

The Future of Industries
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Innovation in Government: Social, Economic, and Environmental Wins

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Governments worldwide struggle with intricate social, economic, and environmental challenges. Tight budgets often leave them with limited resources to address these issues head-on. However, innovation offers a powerful path forward.

By embracing new technologies, adapting to cultural shifts, and fostering new skills, structures, and communication methods, governments can find solutions within existing constraints.

Find out how public sector innovation is optimising internal operations, improving service accessibility, bridging the financial gap, transforming healthcare, and building a sustainable future.

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Click here to download ‘Innovation in Government: Social, Economic, and Environmental Wins’ as a PDF

Optimising Operations: Tech-Driven Efficiency

Technology is transforming how governments operate, boosting efficiency and allowing employees to focus on core functions.

Here are some real-world examples.

Singapore Streamlines Public Buses. A cloud-based fleet management system by the Land Transport Authority (LTA) improves efficiency, real-time tracking, data analysis, and the transition to electric buses.

Dubai Optimises Utilities Through AI. The Dubai Electricity and Water Authority (DEWA) leverages AI for predictive maintenance, demand forecasting, and grid management. This enhances service reliability, operational efficiency, and resource allocation for power and water utilities.

Automation Boosts Hospital Efficiency. Singapore hospitals are using automation to save man-hours and boost efficiency. Tan Tock Seng Hospital automates bacteria sample processing, increasing productivity without extra staff, while Singapore General Hospital tracks surgical instruments digitally, saving thousands of man-hours.

Tech for Citizens

Digital tools and emerging technologies hold immense potential to improve service accessibility and delivery for citizens. Here’s how governments are leveraging tech to benefit their communities.

Faster Cross-Border Travel. Malaysia’s pilot QR code clearance system expedites travel for factory workers commuting to Singapore, reducing congestion at checkpoints.

Metaverse City Planning. South Korea’s “Metaverse 120 Center” allows residents to interact with virtual officials and access services in a digital environment, fostering innovative urban planning and infrastructure management.

Streamlined Benefits. UK’s HM Revenue and Customs (HMRC) launched an online child benefit claim system that reduces processing time from weeks to days, showcasing the efficiency gains possible through digital government services.

Bridging the Financial Gap

Nearly 1.7 billion adults or one-third globally, remain unbanked.

However, innovative programs are bridging this gap and promoting financial inclusion.

Thailand’s Digital Wallet. Aimed at stimulating the economy and empowering underserved citizens, Thailand disburses USD 275 via digital wallets to 50 million low-income adults, fostering financial participation.

Ghana’s Digital Success Story. The first African nation to achieve 100% financial inclusion through modernised platforms like Ghana.gov and GhanaPay, which facilitate payments and fee collection through various digital channels.

Philippines Embraces QR Payments. The City of Alaminos leverages the Paleng-QR Ph Plus program to promote QR code-based payments, aligning with the central bank’s goal of onboarding 70% of Filipinos into the formal financial system by 2024.

Building a Sustainable Future

Governments around the world are increasingly turning to technology to address environmental challenges and preserve natural capital.

Here are some inspiring examples.

World’s Largest Carbon Capture Plant. Singapore and UCLA joined forces to build Equatic-1, a groundbreaking facility that removes CO2 from the ocean and creates carbon-negative hydrogen.

Tech-Enhanced Disaster Preparedness. The UK’s Lincolnshire County Council uses cutting-edge geospatial technology like drones and digital twins. This empowers the Lincolnshire Resilience Forum with real-time data and insights to effectively manage risks like floods and power outages across their vast region.

Smart Cities for Sustainability. Bologna, Italy leverages the digital twins of its city to optimise urban mobility and combat climate change. By analysing sensor data and incorporating social factors, the city is strategically developing infrastructure for cyclists and trams.

Tech for a Healthier Tomorrow

Technology is transforming healthcare delivery, promoting improved health and fitness monitoring.

Here’s a glimpse into how innovation is impacting patient care worldwide.

Robotic Companions for Seniors. South Korea tackles elder care challenges with robots. Companion robots and safety devices provide companionship and support for seniors living alone.

VR Therapy for Mental Wellness. The UAE’s Emirates Health Services Corporation implements a Virtual Reality Lab for Mental Health, that creates interactive therapy sessions for individuals with various psychological challenges. VR allows for personalised treatment plans based on data collected during sessions.

The Future of Industries
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Leaders Roundtable: Decoding the GenAI Value Chain: Best Practices for Industry Leaders

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Leaders Roundtable: Decoding the GenAI Value Chain: Best Practices for Industry Leaders


We’ve concluded another successful event! Thanks to everyone for their Valuable contributions.

->Click here to explore hightlights and key takeaways from this Roundtable session.


MAS’s Project MindForge sets global benchmarks in establishing a risk framework for Generative AI in finance with a clear focus on identifying risk dimensions and developing robust industry use cases.

This is driving Singapore’s Financial Services organisations to leverage GenAI for enhanced efficiency, personalised customer experiences, and innovative product development.

Ecosystm research reveals that 90% of Financial Services organisations in Singapore are exploring GenAI solutions. Yet, along with this opportunity, come challenges.

Biggest Barriers to GenAI Adoption in Singapore BFSI Organisations

  • 48% – Limited AI skills, expertise, or knowledge
  • 43% – Difficulty in identifying the right use cases
  • 41% – Lack of a holistic AI strategy
  • 35% – Data accuracy, access, & complexity

Source: Ecosystm AI Landscape Study, 2024

These barriers are primarily rooted in organisations’ inability to develop comprehensive frameworks and operating models that cover infrastructure, skills and people, and data resilience & governance.

We invite you to join us for an exclusive invitation-only discussion where industry leaders will share best practices, insights, and experiences in navigating GenAI complexities.

Topics of conversation will include:

  • Identifying the most impactful use cases for GenAI adoption and understanding their potential impact on organisational personas
  • Prioritising a strong data resilience strategy as a foundational element of GenAI adoption
  • Utilising best practice templates to guide GenAI adoption processes

We look forward to welcoming you to this transformative session to help you position your organisation as a leader on Singapore’s GenAI roadmap.

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Upskilling for the Future: Building AI Capabilities in Southeast Asia

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Southeast Asia’s massive workforce – 3rd largest globally – faces a critical upskilling gap, especially with the rise of AI. While AI adoption promises a USD 1 trillion GDP boost by 2030, unlocking this potential requires a future-proof workforce equipped with AI expertise.

Governments and technology providers are joining forces to build strong AI ecosystems, accelerating R&D and nurturing homegrown talent. It’s a tight race, but with focused investments, Southeast Asia can bridge the digital gap and turn its AI aspirations into reality.

Read on to find out how countries like Singapore, Thailand, Vietnam, and The Philippines are implementing comprehensive strategies to build AI literacy and expertise among their populations.

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Download ‘Upskilling for the Future: Building AI Capabilities in Southeast Asia’ as a PDF

Big Tech Invests in AI Workforce

Southeast Asia’s tech scene heats up as Big Tech giants scramble for dominance in emerging tech adoption.

Microsoft is partnering with governments, nonprofits, and corporations across Indonesia, Malaysia, the Philippines, Thailand, and Vietnam to equip 2.5M people with AI skills by 2025. Additionally, the organisation will also train 100,000 Filipino women in AI and cybersecurity.

Singapore sets ambitious goal to triple its AI workforce by 2028. To achieve this, AWS will train 5,000 individuals annually in AI skills over the next three years.

NVIDIA has partnered with FPT Software to build an AI factory, while also championing AI education through Vietnamese schools and universities. In Malaysia, they have launched an AI sandbox to nurture 100 AI companies targeting USD 209M by 2030.

Singapore Aims to be a Global AI Hub

Singapore is doubling down on upskilling, global leadership, and building an AI-ready nation.

Singapore has launched its second National AI Strategy (NAIS 2.0)  to solidify its global AI leadership. The aim is to triple the AI talent pool to 15,000, establish AI Centres of Excellence, and accelerate public sector AI adoption. The strategy focuses on developing AI “peaks of excellence” and empowering people and businesses to use AI confidently.

In keeping with this vision, the country’s 2024 budget is set to train workers who are over 40 on in-demand skills to prepare the workforce for AI. The country will also invest USD 27M to build AI expertise, by offering 100 AI scholarships for students and attracting experts from all over the globe to collaborate with the country.

Thailand Aims for AI Independence

Thailand’s ‘Ignite Thailand’ 2030 vision focuses on  boosting innovation, R&D, and the tech workforce.

Thailand is launching the second phase of its National AI Strategy, with a USD 42M budget to develop an AI workforce and create a Thai Large Language Model (ThaiLLM). The plan aims to train 30,000 workers in sectors like tourism and finance, reducing reliance on foreign AI.

The Thai government is partnering with Microsoft to build a new data centre in Thailand, offering AI training for over 100,000 individuals and supporting the growing developer community.

Building a Digital Vietnam

Vietnam focuses on AI education, policy, and empowering women in tech.

Vietnam’s National Digital Transformation Programme aims to create a digital society by 2030, focusing on integrating AI into education and workforce training. It supports AI research through universities and looks to address challenges like addressing skill gaps, building digital infrastructure, and establishing comprehensive policies.

The Vietnamese government and UNDP launched Empower Her Tech, a digital skills initiative for female entrepreneurs, offering 10 online sessions on GenAI and no-code website creation tools.

The Philippines Gears Up for AI

The country focuses on investment, public-private partnerships, and building a tech-ready workforce.

With its strong STEM education and programming skills, the Philippines is well-positioned for an AI-driven market, allocating USD 30M for AI research and development.

The Philippine government is partnering with entities like IBPAP, Google, AWS, and Microsoft to train thousands in AI skills by 2025, offering both training and hands-on experience with cutting-edge technologies.

The strategy also funds AI research projects and partners with universities to expand AI education. Companies like KMC Teams will help establish and manage offshore AI teams, providing infrastructure and support.

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