- Businesses with a deep technical bench that applies its AI technologies to persistent pain points in a broad, rather than niche, domain.
Local transport solutions firm SWAT Mobility's machine learning and AI vehicle-routing solution is helping regional companies better plan efficient transportation routes for both riders and factory bus operators, optimising travelling time while reducing the number of vehicles needed on the roads. A good example is Singapore company Biofourmis which has gone global, using AI to monitor patients' condition post-discharge for wide-ranging medical conditions. Its solution was recently deployed in Singapore and Hong Kong to aid the fight against pandemic through remote monitoring of Covid-19-positive patients to enable early intervention by care teams.
- Startups that automate the entire AI and data modelling life cycle from data preparation to deployment, monitoring and maintenance, are also of interest. Both a national AI strategy and active financial investment are critical in reaping the economic and social benefits of AI. However, these alone are insufficient. Stronger collaboration between public and private sectors will enable AI to reach its fullest potential. Governments, investors, corporates and research and development institutions can foster this connection by integrating promising AI-driven solution providers with local industries.
At EDBI, we help advance our portfolio companies' vision and catalyse their expansion both within South-east Asia and globally from Singapore, by bringing valuable insight and connections as a catalyst for growth including market, technology and ecosystem access, talent support, chief executive officer mentorship and strategic financing.Thus far, Singapore has been preparing its workforce to take on jobs of the future, and AI is one of the focus areas.