Artificial intelligence provider Element AI, today announced new partnerships with innovation groups in Singapore to expand its footprint in Asia and further develop the artificial intelligence (AI) landscape in the region.
Also in attendance at the event was prime minister Justin Trudeau and Jim Carr, minister of international trade diversification who are currently touring Singapore and Papua New Gineau meeting with leaders to discuss the expansion on trade agreements, investments and economic opportunities in the region.
These new agreements are part of Element AI’s mission on global expansion and reinforce its commitment to working with large corporations, startups and academics in the Singapore AI ecosystem, stated the press release.
“Through collaborative research drawing on the best and brightest expertise from Singapore and Canada, we’re very excited about what is possible as we focus on augmenting collective intelligence and transforming industry as we know it with the help of role-centric AI products,” Jean-François Gagné, Element AI’s CEO stated in the release.
Working with GIC the Canadian company plans to focus on advanced machine learning techniques to help solve enterprise-based problems like challenges faced by large asset managers.
With SGInnovate Element AI has plans to improve the tech talent pool in Singapore and South East Asia en-large by working with AI-related startups. It will also work with Singapore Management University to conduct research on the governance of AI.
The university “will be responsible for carrying out the Singaporean and ASEAN aspects of research while Element AI will focus on the North American aspects as well as leverage its global researcher network. Together, all parties will share information, tools, and approaches in order to deliver issues and recommendation papers,” the release stated.
Element AI provides enterprises with AI software products that augment business practices and decision making. In July 2017 it set a record for the largest first-round funding by an AI firm, raising $137.5 million, as our sister site IT World Canada reported. This helped to create 250 new jobs in the Canadian tech sector.
The company, while headquartered in Canada has offices in London, Singapore and Seoul. Leading investors include Intel Corp., Microsoft Corp., BDC Capital and Real Ventures.