The transformative potential of Generative Artificial Intelligence (Gen AI) is clear, but unlocking that potential is a much more uncertain prospect. Luckily, businesses can tap into a wide range of resources, capabilities, and partners to make their AI implementation plans less intimidating.

During a lunch hosted by the EDB at the Asia Tech x Singapore Summit (ATx Summit), leaders from the world’s most exciting tech companies spoke about the peril and promise of AI, and dispensed advice for businesses about to embark on their own AI journey.

Here’s some of the key takeaways:
 

1. SCALE EFFECTIVELY: FOLLOW THESE THREE RULES

According to Google Cloud’s APAC Vice President, Karan Bajwa, to fully harness the power of AI, enterprises must adopt a thoughtful and strategic approach. Here are three key considerations to guide your AI journey:

• The Model Mindset: While it's tempting to chase the latest AI models, it's crucial to align your choice with specific business needs and objectives. Consider the practical applications of different models and select those that offer the most tangible benefits for your organisation.
• The Impact-Driven Use Case: Before diving into AI projects, carefully evaluate their potential impact on your business. Focus on use cases that offer clear commercial value and contribute to your overall strategic goals.
• The Skills Strategy: Ensure your team has the necessary skills and expertise to effectively implement and manage AI initiatives. Karan noted: “A lot of organisations are getting on with the journey without having the required skills in their own organisation. Staff are left with something they don't know what to do.” Outsourcing in the short term or upskilling can help you steer clear of this challenge. Building a strong internal AI capability will empower your organisation to embrace AI with confidence.

Learn how Google’s AI Trailblazers programme has helped companies like GSK, Ethlas and AI Palette develop meaningful AI solutions in Singapore >>

2. LESS [POWER] IS MORE: DON’T FORGET ABOUT ENERGY EFFICIENCY

The computational demands of AI – from training foundational models to large-scale inferencing – can be cost-prohibitive because of the sheer energy required. Adopting more energy efficient tools, tech, and infrastructure can be the difference between success and a red-line disaster.

This is where providers such as Sustainable Metal Cloud (SMC) come in. According to SMC co-founder Tim Rosenfeld, the company’s commercial-scale GPU immersion cooling technologies allows it to “cut the energy consumed by an AI computer by up to 50 per cent” compared to conventional cloud services providers. He added: “And, if you can reduce the energy required to run a training model, you can substantially increase the scale of what you’re doing.” An added benefit: energy-efficient AI is greener, too, making solutions like SMC’s both an environmentally and financially prudent decision.

Discover how SMC’s cutting-edge data centers are creating a greener future for AI >>
 

3. HELP IS ON THE WAY: ACCELERATE YOUR AI JOURNEY WITH INDUSTRY PARTNERSHIPS

Ng Aik Beng, Senior Regional Manager of NVIDIA's AI Technology Centre, cited two very human, yet very critical, components to AI adoption – talent and collaborations. "As an ecosystem, we need to converge ideas and expertise from the industry and academia to create new and impactful AI-powered industry capabilities, accelerated by NVIDIA's advanced AI technology stack," he noted. "With the advent of Generative AI, there are vast opportunities and much impact to be created."

Initiatives like NVIDIA’s Joint Centre for AI with the Singapore Institutes of Technology, advance learning and research while fostering partnerships between educational institutions and businesses. This Joint Centre aims to accelerate the development of cutting-edge AI applications as well as contributing to Singapore’s goal of tripling the number of AI practitioners over the next five years.

This collaboration builds on existing partnerships between SIT and NVIDIA, such as joint research projects and talent development programmes that will expose SIT students to NVIDIA's advanced AI technology stacks. These collaborations are vital as they leverage industry expertise to enhance academic programmes, ensuring that the workforce is equipped with cutting-edge skills and knowledge. This synergy between academia and industry is essential for driving innovation, addressing skills gaps, and maintaining Singapore’s competitive edge in the global AI landscape.

Read about the NVIDIA-SIT Centre for AI and how it will contribute to Singapore’s AI ecosystem >>

Agreeing with Aik Beng, Sandy Kunvatanagarn, OpenAI’s Head of Policy, APAC, noted that the mission of OpenAI is to benefit humanity. “Our strength as a company is about discovering where the edge of AI technology lies and then going a step further than that. But ultimately, we really want to make sure that we contribute to the ecosystem that benefits entrepreneurs and enterprises here in Singapore.”

4. GIVE YOUR AI JOURNEY THE SINGAPORE ADVANTAGE

Google, SMC, NVIDIA, OpenAI and many other companies are already implementing game-changing AI initiatives in Singapore. This is no coincidence, according to EDB’s Managing Director, Jacqueline Poh; it’s the result of deliberate planning and industry development.

“Not many cities or countries can claim to have our unique mix of tech giants, large local enterprises, and Fortune 500 companies across the industrial spectrum. By putting these three groups together, we can accelerate AI adoption across multiple sectors and, in so doing, create successful business, talent, and economic outcomes.”

With Singapore’s diverse economy as a fertile ground for AI-driven innovation, and a growing landscape of partnerships, training programmes, and more, the country should be a natural choice for businesses looking to use AI to gain a competitive edge.