AvePoint, a global leader in data management and governance solutions (NASDAQ: AVPT), announced today the official establishment of an AI lab with the support of the Singapore Economic Development Board (EDB). This strategic move will significantly advance innovative research in the fields of artificial intelligence and machine learning, further enhancing the AI capabilities of the AvePoint Confidence platform. The newly established AI lab will serve as a globally influential R&D center. Over the next three years, the lab plans to recruit more than

Singapore has recently announced a series of important measures in cybersecurity, particularly regarding safety guidelines for Artificial Intelligence (AI) systems and legislation banning the use of deepfake technology in election advertising. These initiatives aim to help organizations mitigate potential risks during the development and deployment of AI, ensuring the security of the technology. Image Credit: The image is generated by AI and licensed through Midjourney. The 'AI System Security Guidelines' launched by the Cyber Security Agency of Singapore (CSA) emphasize the concept of 'security by design.'

Singapore has recently introduced a new bill aimed at banning the use of deepfake technology during elections to ensure the authenticity of information and the fairness of the electoral process. With the advancement of generative AI technology, the risk of deepfake content has increased. The bill seeks to regulate the production of false content created by both AI and non-AI technologies, including videos, audio, and images. The core provisions prohibit the publication of online ads that falsely depict candidates' words and actions during election periods, with violators facing fines or imprisonment. The bill also allows for issuing correction orders to individuals and social media platforms that publish false content.

Generation Z in Singapore exhibits remarkable awareness and optimism towards generative artificial intelligence, with 84% of respondents familiar with the technology and 80% optimistic about its potential in the banking industry. Over 60% of Gen Z consumers show strong interest in the diversity of AI applications in banking services, particularly in fraud detection and answering inquiries about banking products. Nearly 70% of consumers hope to use AI for retirement planning, bill payment updates, and expense tracking analysis. Gen Z's interest in AI personal shopping assistants is especially notable, with 43% having already experienced AI in online shopping.

Executives in Singapore are cautious about the rapid adoption of generative AI, according to a survey conducted by Console Connect and Arlington Research among 1,000 CTOs and senior IT leaders globally. 82% of Singaporean executives believe that the swift adoption of AI will have a long-term impact on technology infrastructure planning. The survey also revealed that 81% of Singaporean companies feel that their current network infrastructure is inadequate to meet the demands of generative AI, and 80% of these firms stated that their IT teams are under increasing pressure to adapt within the organization.

Temasek Holdings, Singapore's state-owned investment firm, is in investment negotiations with OpenAI's CEO Sam Altman. Altman is seeking funding to launch a semiconductor business aimed at reducing dependence on cutting-edge chips manufactured by Nvidia. Since the launch of ChatGPT in November 2022, OpenAI's revenue has significantly increased.

Singapore is investing $52 million to launch a national multimodal large language model initiative, filling the gap left by Western language models. In collaboration with IMDA, AI Singapore, and the Agency for Science, the project aims to introduce region-specific contextual models and enhance AI research capabilities. The initiative will nurture local AI talent, promote industry collaboration, and drive AI innovation in Southeast Asia. It is part of Singapore's Research, Innovation and Enterprise 2025 plan, which aims to position the country as a global hub for AI solutions by 2030.

Singapore's Deputy Prime Minister Heng Swee Keat announced the national artificial intelligence strategy, aiming to train 15,000 machine learning scientists and engineers. Industry collaborations include partnerships with chip manufacturers and cloud service providers to enhance computing resources and serve tech giants' Asian headquarters. Singapore commits to government incentives to support AI startups, strengthen local talent training programs, and provide Graphics Processing Units (GPUs). This move will accelerate Singapore's growth in the AI field and provide new momentum for global innovation.

NExT-GPT is an open source multimodal language model developed by the National University of Singapore, capable of processing text, images, videos, and audio, providing robust support for multimedia AI applications. It features a three-layer architecture, including linear projection, Vicuna LLM core, and modality-specific transformation layers, with intermediate layer training conducted using MosIT technology. The open-source contribution enables researchers and developers to create applications that integrate multimodal inputs, with potential applications spanning a wide range of fields. What sets NExT-GPT apart is its ability to generate modalities based on user requests.

OCBC Bank Singapore is the first bank to launch a generative AI chatbot for its global workforce. This AI tool was co-developed with Microsoft's Azure OpenAI and aims to assist employees in improving work efficiency. After a six-month trial, the speed of task completion for employees increased by 50%.

Singaporean employees are the fastest adopters of AI skills in the world. Singapore has the highest 'adoption rate', with the proportion of members adding AI skills to their profiles increasing 20 times since January 2016. With the automation of artificial intelligence, soft skills such as adaptability, emotional intelligence, and analytical judgment are becoming increasingly important.