AvePoint has announced the launch of an AI Lab in Singapore with the Singapore Economic Development Board (EDB). This facility will serve as a research and development hub for artificial intelligence and machine learning.
It aims to drive high-impact research with a global perspective on developing industry-relevant AI solutions. The establishment of the AI Lab is an endeavor of AvePoint to meet various challenges that industries are faced with around the globe, utilizing the innovation of research and developments within the confidence platform.
The lab will engage over 25 AI researchers and programme specialists over the next three years to support AI innovation both in Singapore and worldwide. This will involve a global rotational programme that allows local PhD-qualified researchers to collaborate with leading foreign researchers at AvePoint's headquarters. Furthermore, the lab will engage with universities and AvePoint's global product teams to enhance collaboration.
"We are excited to launch the AvePoint AI Lab, which will be instrumental in advancing AI-driven research and addressing industry needs", said Wei Chen, Head of R&D, AvePoint. "With this lab, we aim to develop impactful solutions that benefit industries globally while enhancing our SaaS products".
The lab will focus on developing AI-driven solutions for sectors including education and finance. In education, AI technologies aim to revolutionise learning and assessments, providing personalised academic advising. In the financial technology sector, AI will facilitate banking processes through improved data aggregation, fraud detection, and enhanced Know Your Customer (KYC) services.
The AI Lab plans to create solutions applicable across various sectors, such as improving collaboration, knowledge management, and innovative recommendation systems for career development and lifelong learning.
Philbert Gomez, Executive Director & Head, Digital Industry Singapore (DISG) stated, "EDB is committed to fostering AI innovation that addresses real-world industry challenges. We are pleased to support AvePoint's AI Lab in Singapore, which will not only advance cutting-edge AI research but also translate these innovations into practical solutions for global markets. This initiative aligns with our goal of positioning Singapore as a hub for AI talent and innovation, creating high-value job opportunities and driving the development of AI applications that can enhance productivity and competitiveness across various sectors worldwide".
The primary objective of the AI Lab is to commercialise its research into AvePoint's SaaS products, thereby creating new business opportunities and enhancing existing offerings to cater to shifting global market demands.
"As we explore new areas of AI applications, our focus remains on translating these breakthroughs into practical applications for our customers worldwide", added Wei Chen. "This Lab enables us to collaborate on a global scale, ensuring that the innovations we develop here in Singapore can impact industries around the world".
