Canadian AI Element AI has announced new partnerships with GIC (formerly known as the Government of Singapore Investment Corporation), SGInnovate and Singapore Management University (SMU) as part of its global expansion strategy
The AI element was founded in 2016 and raised US $ 102mn in its round of Series A financing in 2017.
In its statement, the company said that its focus on promoting partnerships in Singapore comes within a strategic alignment with the benefits of AI's development in Singapore, stating that Singapore is exclusively positioned to blend governments, academic institutions and private companies to advance development and development of AI adoption.
"Singapore's industrial ecosystem is made up of renowned institutions, with extensive experience in building global companies, incubators with a proven history of launching world-class companies and prestigious academic institutions that conduct fundamental research to understand the world and illuminate the way forward, "said Jean-Francois Gagne, CEO of Element AI.
"Through collaborative research based on the best and most brilliant knowledge of Singapore and Canada, we are very excited about what is possible as we focus on increasing collective intelligence and transforming the industry as we know it with the help of role-focused AI products ".
The AI element plans to use Singapore's resources to develop academic progress in AI in fully integrable, customizable and scalable products, and detailed the specificities of each collaboration in its statement.
GIC will collaborate with the AI Element for the research and development of advanced automatic learning regarding the resolution of problems in asset management, while with SGInnovate the company will work to support AI initiatives and expand the pool of technology talents in Singapore.