The AI Lab collaborates with ecosystem partners such as government agencies, research institutions, and technology companies. The lab will also work with higher education institutions to provide local students with hands-on experience and internships. SINGAPORE – Media OutReach Newswire – 19 November 2024 – Prudential plc (“Prudential”) today announced the launch of Prudential plc (“Prudential”) in Singapore, with the aim of accelerating the adoption of AI, generative AI (gen AI) and machine learning across the organization. We have launched an AI lab. The launch ceremony, held at Prudential’s Singapore office, was officiated by Singapore’s Minister of Digital Development and Information (MDDI) Josephine Teo and Prudential Chief Executive Officer Anil Wadhwani. As the guest of honor at the launch event, Mrs Teo delivered a speech and toured a showcase of AI solutions in health and wealth by Prudential’s AI experts.
The Prudential AI Lab develops AI-powered solutions designed to deliver better customer experiences and meaningful business impact while integrating AI capabilities into Prudential’s operations, services and products. After a soft launch in August 2024, more than 100 AI use cases were submitted to the lab by Prudential employees across 24 markets in Asia and Africa.
The Prudential AI Lab was developed with support from the Ministry of Digital Development and Information (MDDI), the Economic Development Board of Singapore (EDB), and the Monetary Authority of Singapore (MAS). It was launched in partnership with Google Cloud to provide Prudential employees with end-to-end technical support and access to advanced AI solutions.
The lab prioritizes solutions that improve consumers’ access to quality health care and drive Prudential’s operational excellence. AI also enables treasurers to serve customers better and faster with enhanced advisory capabilities. The lab will be staffed by a dedicated team of AI engineers and data scientists based in Singapore.
Anil Wadhwani, Chief Executive Officer of Prudential plc, said: “Data, advanced analytics and AI are critical to delivering on our strategic priorities. , we believe Prudential’s AI Lab will significantly enhance our ability to deliver superior experiences to customers, agents, and financial representatives across all markets.”
Commenting on the collaboration with the Singapore government, Mr. Wadhwani said, “Singapore is an attractive destination for Prudential’s global It was chosen as the base for the AI lab.” By working with EDB and MAS, we are able to leverage Singapore’s rich network of academic, corporate and government resources and talent, and this partnership allows us to develop innovative solutions that address customer and business challenges while we are building them. The ability to develop is greatly supported. More powerful AI capabilities. ”
Gillian Tan, Assistant Managing Director (Development and International) and Chief Sustainability Officer at MAS, said: “Prudential’s AI Lab aligns with Singapore’s Smart Nation 2.0 goals and will help businesses leverage AI and technology. “We encourage our customers to improve their productivity, transform and better serve their customers.” MAS will continue to help financial institutions develop capabilities and leverage AI to enhance customer and advisory services, fraud detection, and risk insight generation. ”
Nurturing AI innovators through a strong ecosystem
The institute will work closely with ecosystem partners including institutions of higher learning (IHL), research centres, government agencies and technology partners.
The company already has agreements with several IHLs, including the National University of Singapore’s Asian Digital Finance Institute, the Singapore Management University’s School of Computing and Information Systems, the Republic of Technology and the Singapore Institute of Technology. The lab will engage students from these local schools to foster knowledge sharing and innovation, as well as provide hands-on experience to develop the next generation of AI professionals.
Students who are interning at Prudential and whose final year project is selected will work with the lab, its partner ecosystem, and Prudential’s business units to build a proof of concept for the selected use case .
Note to editor
About Prudential AI Lab
The mission of the Prudential AI Lab is to enable Prudential employees and AI partners to co-develop advanced AI solutions in areas that align with business priorities, helping address key challenges and accelerating AI adoption in insurance. It is to do.
Prudential AI Lab Vision:
Reimagine the customer experience: Develop AI applications and products that create highly personalized, seamless interactions between agents and customers and drive measurable business value. Transform healthcare access: Implement AI-powered solutions that leverage data and advanced analytics to ensure smooth and positive customer connectivity. Improve operational efficiency: Use AI to streamline internal processes and increase automation to improve efficiency and effectiveness. Develop AI capabilities: Empower employees across your organization to work smarter and faster by building robust AI capabilities and tools.
(1) For more information, please visit https://www.smartnation.gov.sg/nais/.
(2) For more information on Project Moonshot, please visit https://aiverifyfoundation.sg/project-moonshot/.
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