PwC launches AI hub in Singapore with over US$4 million commitment

[SINGAPORE] PwC launched an artificial intelligence (AI) hub in Singapore on Wednesday (May 21), committing more than US$4 million over a three-year period.

This venture is also supported by Singapore’s Economic Development Board.

The purpose of the hub is to establish standards when introducing AI technology, developing and scaling local AI capabilities, and fostering strategic alliances for market entry.

A part of the AI hub is a commitment to invest in the setup of an AI factory to facilitate the development and scaling of AI solutions.

Some industries that the factory has already scaled solutions for to date include financial services, the government and public sector, as well as transport and logistics.

In addition, collaborations with higher education institutions such as the National University of Singapore are included in the AI hub’s plans, to provide professional learning and internship opportunities for students to acquire practical AI engineering skills.

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Since its inception in January this year, the team behind the AI hub has grown from three to 15 employees today, comprising AI researchers and data scientists. PwC aims to grow the team to a strength of 20 within the next 12 to 15 months.