Element AI has announced partnerships with Singapore-based organizations including GIC, SGInnovate, and Singapore Management University (SMU).
The partnerships are part of Element AI’s work for global expansion with corporations, startup incubators, and research institutions to convert its breakthroughs into AI products. During Web Summit, Element AI revealed how it was building core AI technology that could be applied to products.
“The Singapore industrial ecosystem consists of renowned institutions with deep expertise in building global enterprises, incubators with a proven history of launching world-changing companies, and prestigious academic institutions conducting the research critical to understanding the world around us and lighting the path forward,” said Element AI CEO Jean-François Gagné. “This Singapore technology ecosystem is familiar to us at Element AI because it’s that environment that led to the creation of our company, so we’re thrilled to be signing agreements with these like-minded partners today.”
Through its innovation labs, wealth fund GIC accelerates the use of innovative technologies and incubates new ideas, in collaboration with its business units, startups, research organizations, and universities. The new partnership between Element AI and GIC initiates a collaboration that will focus on the application of advanced machine learning techniques to problems encountered by large asset managers.
The partnership between Element AI and SGInnovate will prioritize the expansion of the deep tech talent pool in Singapore, and the development of the fast-growing technology startup ecosystem in ASEAN. Element AI and SGInnovate will focus on the potential for AI-related startups to help corporations and governments address a variety of challenges. Both companies will co-host a series of events and work alongside technical founders to create opportunities for startups to deploy, improve, and further scale AI solutions. This will be done, in part, through collaborations with the SGInnovate’s portfolio companies as well as from the wider market.
“Two years ago, SGInnovate was launched with a mission to help ‘scientist-entrepreneurs’ form, build, and scale deep tech startups. Given how hard it is to build a deep tech company, we know how important it is to work with great partners,” said Steve Leonard, the founding CEO of SGInnovate. “Our new relationship with Element AI, one of the most exciting AI startups in the world, will help us to increase our impact as a deep tech investor and company builder. SGInnovate and Element AI will look to generate commercial opportunities for deep tech startups to build, deploy, improve, and scale AI-system solutions. Through the shared work of SGInnovate and Element AI, the deep tech startup ecosystem across ASEAN will also be given a boost.”
Singapore Management University (SMU) is a city university that focuses on the areas of management, social sciences, and computing (including AI), and their intersections. Element AI and the SMU School of Law will be embarking on a research collaboration in relevant areas on the governance of AI. Specifically, SMU 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.