Bain & Company Launches AI Hub in Singapore
Management consultancy Bain & Company becomes the latest firm to tap into innovation opportunities in Singapore with the launch of an AI hub.
Bain & Company will launch a new AI Innovation Hub in Singapore which was supported by the Singapore Economic Development Board (EDB), according to a statement.
The hub will serve as the firm’s regional center for developing and scaling AI solutions, helping companies move from experimentation to enterprise-wide transformation. Advanced manufacturing, energy and natural resources, financial services, healthcare, consumer products and retail were named as priority sectors.
Examples of solutions include predictive maintenance in manufacturing, regulatory support in financial services and personalization in consumer industries. On helping companies, it will strengthen their in-house capabilities, for example, in setting up AI centers of excellence or embedding engineering excellence.
Economic Projection
There are currently over 1,000 AI startups in Singapore with an estimated S$198.3 billion ($152.2 billion) worth of economic benefits attributable to the technology by 2030.
«Bain’s new AI Innovation hub is an exciting addition to Singapore's vibrant and growing AI ecosystem. By focusing on AI solutions that can be deployed and scaled in sectors from manufacturing to services, the Hub can help more companies and workers adopt and benefit from AI. We look forward to the Hub’s contributions in advancing AI engineering expertise in the region,» said Junie Fo, vice president, professional services, EDB.
Bain has a track record in the emerging field with more than 400 AI projects with leading technology partners.
