Singapore has invited China to test the artificial intelligence (AI) solutions in the country. The two countries are reportedly working together to help the region tackle everyday problems in banking and health care with the assistance of AI technology.
Minister of Finance Heng Swee Keat invited China during the first Sino-Singapore Artificial Intelligence Forum held at Nanjing on June 1, Friday, which was attended by about 350 artificial intelligence experts from both countries.
The first Sino-Singapore Artificial Intelligence Forum was jointly organized by Singapore Press Holding's Chinese paper Liane Zaobao and Nanjing Municipal Bureau of Commerce.
In his speech, Heng said that both countries have potential in developing AI.
"For example, the Monetary Authority of Singapore has a financial technology (Fintech) sandbox for companies to develop new financial solutions before launching them in the market," said Heng.
"Sandboxes are platforms that allow software to be securely tested in an environment where legal and regulatory requirements are relaxed. The Land Transport Authority is also testing driverless vehicle systems in such sandboxes in Singapore," Mr Heng added.
Heng further said that Singapore welcomes businesses and entrepreneurs from China to testbed solutions in the regulatory sandboxes.
He also explained that AI can be used in different sectors in improving people's lives. In law enforcement, AI and facial recognition help police apprehend suspects. In healthcare, AI can be used to read radiographs more accurate and in a faster manner.
