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Moving Forward with Artificial Intelligence

December 01, 2020

Moving Forward with Artificial Intelligence

Artificial Intelligence (AI) is a powerful workforce multiplier that is changing the business landscape. It has been cited as one of the key technology areas with the potential to affect every aspect of the digital world. AI enhances productivity and frees up time for tasks that require human insight, by augmenting and automating routine activities.

It is designed to make decisions, often using real-time data. They are unlike passive machines that are capable only of mechanical or predetermined responses. Using sensors, digital data, or remote inputs, they combine information from a variety of different sources, analyze the material instantly, and act on the insights derived from those data. With massive improvements in storage systems, processing speeds, and analytic techniques, they are capable of tremendous sophistication in analysis and decision-making. (M.West, D. and R.Allen, J., 2020.)

The Covid-19 pandemic has increased the impetus to innovate and digitalize. This is a crucial factor in the proliferation of AI adoption by companies, as they accommodate remote work arrangements and revamp processes. Technology has become a cornerstone of the new normal. (Swee Yeok,2020)

At the launch of Nanyang Technological University’s (NTU) Deep Learning Week, Minister-in-charge of the Smart Nation Initiative Vivian Balakrishnan was the guest of honor. Balakrishnan emphasized the need for university students to develop “deep technical skills” in areas such as data analytics, machine learning, and artificial intelligence (AI). “You are the dynamos that will drive our transformation and push the boundaries of how we can leverage technology to transform our economy – and make a real difference,” he added. (Wei Kai, 2020)

AI is not a futuristic vision, but rather something that is here today and being integrated with and deployed into a variety of sectors. This includes fields such as finance, national security, health care, criminal justice, transportation, and smart cities. There are numerous examples where AI already is making an impact on the world and augmenting human capabilities in significant ways. One of the reasons for the growing role of AI is tremendous opportunities for economic development that it presents. A project undertaken by PriceWaterhouseCoopers estimated that “artificial intelligence technologies could increase global GDP by $15.7 trillion, a full 14%, by 2030.” (M.West, D. and R.Allen, J., 2018.)

AI is prominent across the hype cycle, with predictions that AI technologies will virtually be everywhere over the next 10 years. In Singapore, the AI market has the potential to become a US$960 million market in 2022 and US$16 billion by 2030 with a CAGR of 42.2%. This includes a wide range of technologies used to “analyze, organize, access and provide advisory services based on a range of unstructured information” (IMDA, n.d)

Singapore is ready to deploy AI at a national scale,” as mentioned by Heng Swee Keat, adding how the Government has committed more than S$500 million to fund AI activities under the Research, Innovation, and Enterprise 2020 (RIE2020) plan. Singapore will embark on five national projects covering the areas of transport and logistics, smart cities and estates, healthcare, education, as well as safety, and security. These projects aim to use AI to address key national challenges and deliver “impactful social and economic benefits to Singaporeans”, said a press release from the Smart Nation and Digital Government Office (SNDGO). By 2030, Singapore will be a leader in developing and deploying scalable impactful AI solutions in key sectors of high value and relevance to our citizens and businesses,” said the document detailing the new national strategy. (See Kit, T., 2019)

In Aventis, we provide two Graduate Diploma AI Programme, AI Strategy in Business and Data Science & Artificial Intelligence.

For the AI Strategy in Business, it aims to equip students with a nuanced understanding of the practical impact AI can have on an organization, and how students can apply AI in their own organizations. You will learn to design strategies and evaluate business models that grow your organization in this thriving age of digitalization.

For Data Science & Artificial Intelligence, is designed to help participants master data science, from the critical foundations of statistics and probability to working hands-on with machine learning models using Python, the world’s most popular programming language. Analytical models are more powerful when they are built with the right statistics, and this comprehensive diploma can help you learn the key statistics and probability concepts to build effective models, enhance your data interpretation skills and make well-informed decisions. You will learn key concepts of Power BI by analyzing, visualizing, and reporting data using the data analytics tool by Microsoft, Power BI. You will learn how to connect your data, import your data, author reports, publish reports, create dashboards, and share with other business users so that they are able to utilize the business intelligence gathered in dashboards on both the web and mobile application.

Read us more on our website for more details and download our brochures.

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