Singapore has continued to quietly take strategic steps towards becoming a global leader in artificial intelligence.
Last month, the city-state announced a plan to invest more than $743 million (S$1 billion) into AI developments, and today, it has launched an AI institute, which is paramount to synergising and spearheading AI research and innovation across different sectors.
The new institute is launched by the National University of Singapore (NUS). In a statement published Monday, the university said the institute will advance research and application of AI technologies within different sectors of the country, including education, healthcare, finance and sustainability.
Singapore’s AI Institute to Receive $20 Million in Funding
NUS said the AI Institute would bring together rich AI expertise across various schools, serving as a focal point to synergise a “diverse range of capabilities and create a dynamic ecosystem” with a key focus on four research areas, including foundational AI; policy & societal implications of AI; real-world applications across various domains; and AI Infrastructure.
“The impact of AI on our lives, society, and economy will depend on how we develop, deploy and govern these technologies to maximise their benefits while addressing the challenges and the risks,” said Professor Liu Bin, NUS Deputy President (Research and Technology).
In order to address ethical concerns relating to AI, the university said the institute will equally focus on ways to improve transparency and accountability.
NUS plans to invest $14.8 million (S$20 million) to set the ball rolling with the institute’s endeavours, in addition to $5.9 million (S$8 million) in external research grants already secured by the researchers.
The university announced IBM and Google Cloud as industry partners of the AI institute and also said it’s currently discussing with other local and international companies to explore collaborative initiatives.
Singapore Prepares for the AI Era
“NAII aspires to become a global node of AI thought leadership,” said NUS Professor Mohan Kankanhalli. “Recognising the importance of growing a pipeline of AI talent, the institute will also provide exciting hands-on opportunities for NUS students who are keen to pursue a career in AI or explore entrepreneurial pursuits in this fast-growing field,” said Professor Mohan Kankanhalli from the NUS School of Computing.
Speaking on “career in AI,” Singapore has been keen on prepping residents for the AI era, following the fast-paced developments around the world, coupled with reports of the technology’s potential to replace human workers.
Recently, the Singaporean government launched a new subsidy scheme for people aged 40 and above to pursue a full-time diploma course in higher education, with the goal of repositioning them with improved skills needed to stay relevant in the future.
Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
