HardwareZone celebrates Singapore’s 60th birthday with a series of articles showcasing local tech brands that have helped build our nation and put us on the world stage. Some of these brands have become household names, while others lesser known but no less innovative. You might even be surprised to learn of some popular technologies that got its start right here in Singapore.
(This article is one of 7 parts in our SG60 Tech Special series.)
Artificial intelligence (AI) might be all the rage right now. But Singapore has been dabbling in AI way before ChatGPT became a thing. In 2017, AI was been identified as one of the four frontier technologies for development in Singapore. The same year, a national program – AI Singapore – was launched to help businesses and government use AI in practical ways as well as to nurture local AI talent. With the rapid advancement of AI, the National AI Strategy was updated in 2023 with two goals: to develop “peaks of excellence” in AI and to empower individuals, businesses, and communities to use AI with confidence and trust. With a clear mandate and strong support from the Singapore government, it is no wonder that many Singapore AI companies have sprouted and making its mark in the scene.
1. WIZ.AI
Jennifer Zhang, Co-founder of Singapore-based AI startup WIZ.AI
SPH Media Limited
Founded in 2019, the Singapore-based WIZ.AI specialises in conversational AI solutions that mimic human interactions. By focusing on natural language processing (NLP) and conversational AI, WIZ.AI specialises in customer engagement technology, enabling businesses to improve customer service, accelerate sales, and reduce operational costs.
It is renowned for its AI-powered voice bots – Talkbots – which are designed to emulate human-like conversations in multiple languages and dialects, particularly catering to the diverse populations of Southeast Asia.
In 2023, the company launched a domain-specific large language model (LLM). Unlike general-purpose models, this LLM is tailored for specific industries with domain knowledge, like banking and healthcare. It also offers enhanced data security and accuracy for enterprise clients.
The same year, WIZ.AI unveiled a suite of generative AI products for customer service, including TalkGPT and new Talkbot and Chatbot versions. It also launched Southeast Asia’s first foundational LLM in Bahasa Indonesia.
Within a few years of its inception, the company established a regional presence, with operations spanning Singapore, Indonesia, the Philippines, and other ASEAN countries. Thus far, WIZ.AI has raised around US$56 million over several rounds of funding. It was also included on LinkedIn’s list of top 10 startups in 2024. Its clients now include IHH Healthcare, Tokio Marine and SeaMoney.
Key Events:
- 2019: Introduction of Talkbot, WIZ.AI’s flagship product.
- 2020: Raises US$6 million in pre-Series A funding.
- 2022: Secures around US$50 million in Series A and B funding.
- 2023: Launches domain-specific LLM and a suite of generative AI products.
- 2024: Listed as one of the top 10 startups in Singapore.
2. ADVANCE.AI
![Sumiko's lunch interview with Jefferson Chen, co-founder and CEO of Advance Intelligence Group at Tong Le Private Dining on July 25, 2024. [Lunch With Sumiko]](https://cassette.sphdigital.com.sg/image/hardwarezone/8696ecd7cb91faded802966b03f6e842b2ac4d3540f5e9e422e94ce5086a0220?w=1000&q=85)
Jefferson Chen, co-founder and CEO of Advance Intelligence Group.
The Straits Times
A subsidiary of the Advance Intelligence Group, ADVANCE.AI is a Singapore-based AI company founded in 2016 that provides digital identity verification, risk management, fraud detection, credit scoring, and compliance solutions for enterprise clients.
It was created to help address the lack of credit history for individuals in emerging markets in Southeast Asia and India. Its solutions are particularly tailored to the region’s unique challenges, including limited credit histories and diverse regulatory environments.
Its first client was Gojek, which allows the company access to over 170 million users across Southeast Asia. Today, ADVANCE.AI counts the likes of Standard Chartered Bank, BTPN, KEB Hana Bank, Shopee, Bank Jago and HBL BanK as its clients. It also partners over 800 enterprise clients across banking, financial services, fintech, payment, retail and e-commerce sectors.
