SINGAPORE: The National Research Foundation (NRF) will be investing up to S$150 million into a new national programme aimed at boosting Singapore’s artificial intelligence (AI) capabilities over the next five years.

Called AI.SG, the initiative will see Singapore-based research institutes partner AI start-ups and companies developing AI products to grow knowledge in the space, create tools and develop talent to power the country’s AI efforts. This was announced by Minister for Communications and Information Yaacob Ibrahim at the opening of InnovFest Unbound event on Wednesday (May 3).

"AI.SG will do three key things – first, address major challenges that affect both society and industry. Secondly, invest in deep capabilities to catch the next wave of scientific innovation. And finally, to grow AI innovation and adoption in companies - an initiative most pertinent to our business community," said Dr Yaacob.

"We have identified three focus areas of application for AI.SG: Finance, city management solutions and healthcare."

It will be driven by a Government-wide partnership comprising of the NRF, the Smart Nation and Digital Government Office (SNDGO), the Economic Development Board (EDB), the Infocomm Media Development Authority (IMDA), SGInnovate as well as the Integrated Health Information Systems (IHiS).