Singapore’s AI Revolution and Industries Leading the AI Charge in the Country
Artificial Intelligence (AI) is believed to be one of the technologies that will define the future of many industries through the advances that have been taking place in computing. For this reason, many governments and private sector investors have invested heavily in AI technology.
Singapore is one of the countries that have jumped on this trend as part of its digital transformation agenda. The country’s government has been encouraging the adoption of AI by investing heavily in the technology, and this has also encouraged the private sector to follow suit.
Singapore’s government collaborated with Microsoft to create chatbots that are designed to facilitate customer service. The bots respond to queries in a conversation-like manner. This is just the tip of the iceberg as far as the level of AI integration is concerned. The partnership highlights one of the main goals of adopting AI, which is to improve customer service, provide better staff services, and even boost customer service.
The Singapore industries and sectors leading to AI adoption
The American data storage company Seagate Technology surveyed AI in Singapore in December 2017 and February last year. The conclusion from the survey was that six out over every ten organizations in Singapore have embraced AI for various purposes.
The main sectors that have so far benefited the most from AI include the information technology sector with the highest adoption rate at 60%. AI adoption for customer support in Singapore was at 49% in August 2018 while adoption for logistics and supply chain operations was at 48%. Its adoption in the research and development segment stands at 41%. Additionally, 9 out of 10 companies in Singapore promised to implement AI in the future.
Industrial application of AI has increased over the past few years, and the technology has been penetrating key industries. The main goal of AI application in these industries is to facilitate more operational efficiencies.
AI in the health care industry
AI has been implemented in Singapore’s healthcare industry to facilitate the development of digital tools that help carry out diabetes screening, chest x-ray analysis, and even detect skin cancer. For example, the Agency for Science, Technology, and Research’s (A*STAR) Genome Institute of Singapore (GIS) created a new AI that identifies the causes of skin cancer. The technology developed by the researchers at the institute allows them to understand the inner workings of cancer and non-coding mutations.
The technology has also been implemented in the health industry to help doctors make the best treatment decision by filtering through a vast sea of research data. This helps to make work easier for doctors who usually feel overwhelmed by research.
AI is also at the heart of robotics in surgery, helping to achieved high levels of efficiency while at the same time helping to reduce errors and doctor workloads. One doctor in Singapore managed to leverage the power of robotics to help patients recover quickly. This means that patients were able to heave hospitals faster, thus freeing up beds for other patients.
Unfortunately, the application of AI in the health sector has not been without challenges. For example, some patients do not trust robots to handle operations and would be more comfortable if actual doctors are the ones handling surgeries. Getting the society to embrace such technology is thus turning out to be a challenge.
AI in Singapore’s auto sector
When you think autonomous driving, think AI. Self-driving vehicles rely on AI to make critical decisions that make it possible for such vehicles to function on their own with little to no human intervention. Singapore is one of the major technology hubs in the world, and as such, it is quick to embrace trendy technologies such as vehicle autonomy.
An autonomous vehicle company called nuTonomy started testing out autonomous driving technology on Singapore streets. The company also announced a collaboration with a Singapore-based ride-sharing taxi service called Grab to make self-driving taxis available to the locals. However, the current barrier to such technology is that it is not advanced enough to be deemed completely safe for use.
Singapore has a market for autonomous taxis considering that only 15% of the local population own cars. The technology will make it possible to taxi companies to reduce costs since they will not need drivers.
AI in Singapore’s manufacturing industry
Singapore’s manufacturing industry has identified AI’s capacity to help achieve more efficiency in their production processes. Research firm Accenture estimates that the application of AI in the manufacturing industry will reach 40% by 2035.
The research firm also estimates that AI will help grow the value of Singapore’s manufacturing industry to US$101.1 billion by 2035. The industry will only be worth US$71.3 billion without AI adoption. This means that AI will play a huge role in boosting revenue for companies in the manufacturing sector.
Business and financial services
Singapore’s financial services and the business segment has also experienced increased use of AI to achieve higher efficiencies, as well as providing better customer services. One of the best examples of this is the use of advanced verification methods such as facial recognition powered by AI to provide safer access to financial services.
AI also plays a key role in business management systems, security systems fraud detection, and document mining, among others. These application types make it easier for businesses to run more efficiently. One of the best examples of this application is a Singapore-based startup called Evie.ai, which runs an AI scheduling assistant called Evie, which autonomously optimizes resources. It can also organize diaries, schedule meetings, and even coordinate calls.
The retail industry
The retail sector has not been left behind as far as AI adoption is concerned. Retail companies in Singapore have embraced advanced digital technology, including AI, to provide a superior retail experience.
A Singapore-based project known as the Untitled Project wants to recreate retail processes through AI so that it can improve all processes. For example, AI can be integrated into advanced suggestion tools that help consumers find what they are looking for with ease, thus improving the shopping experience.
These are just some of the Industries in Singapore that enjoying the benefits of AI. More industries are expected to adopt and take advantage of this technology. This will likely be the case over the next few years as they seek more efficiency.