Today's buzzword is Artificial intelligence. We all know that AI is transforming industries across the globe, and Southeast Asia is no exception. The region has witnessed significant growth in AI adoption, fueled by strategic investments and a keen interest from both public and private sectors.
`To gain deeper insights into these developments, we had the opportunity to speak with William Zhou, Vice President and President of Overseas Business at iFLYTEK Open Platform. During the interview, William shares his perspectives on why Singapore is a strategic hub for AI innovation, the current state of AI in Southeast Asia, and the future of AI collaboration between China and the region. This follows the recent decision to set up iFLYTEK's regional headquarters in Singapore.
As Southeast Asia positions itself as a key player in the global AI landscape, countries like Singapore are emerging as central hubs for technological advancement. Singapore's commitment to investing over US$743 million in the AI industry over the next five years highlights the nation's strategic vision. This significant investment underscores the country's dedication to fostering AI innovation and establishing itself as a leader in the field.
William also shares valuable insights into the importance of government policies, the key trends shaping the AI industry, and iFLYTEK's long-term goals for contributing to the growth and development of AI in Southeast Asia. Join us as we explore the future of AI in this dynamic region through the lens of a leading industry expert.
What factors influenced your decision to establish a regional headquarters in Singapore? What advantages does Singapore offer for AI companies?
2023 was a transformational period for AI technology, fundamentally altering how we live. Over the past decade, adoption has grown significantly, particularly in Southeast Asia. With the rise of artificial intelligence, we see many opportunities for market expansion. In a revolutionary move, Singapore announced it would invest over US$743 million into the AI industry over the next five years to further boost the country's AI capabilities. In his Budget speech in Feb 2024, the then-Deputy Prime Minister (now current Prime Minister) Lawrence Wong stated that the island nation would collaborate with leading companies to set up AI centres of excellence to spur innovation.
In alignment with these developments, we decided to establish our regional office in Singapore to provide enhanced support and services to our clients and partners in the region. This initiative also represents a pivotal step toward elevating the AI community in Southeast Asia's innovation ecosystem. By focusing on fostering innovation and collaboration, our new office is poised to contribute significantly to the vibrant tech ecosystem in Singapore and beyond.
Can you share your thoughts on the current state of the AI industry in Southeast Asia? How does it compare to the AI landscape in China?
The AI industry in Southeast Asia is thriving, with increasing investments and interest from both the public and private sectors. Countries like Singapore, Malaysia, and Thailand are making significant strides in integrating AI into various sectors. Compared to China, Southeast Asia is still in the early stages of AI adoption. China has a more mature AI ecosystem with a robust AI talent pool and substantial investments in research and development.
However, Southeast Asia holds immense potential due to its diverse markets and the growing recognition of AI's transformative impact on economies and societies. Smart digital solutions have been utilised in various industries such as smart homes, retail, social media, finance, and government departments. This will bring a positive impact to these industries, enhancing customers' experiences and increasing efficiency.
How do you see the collaboration between Chinese AI companies and Southeast Asian countries evolving? What potential benefits and challenges do you foresee?
Partnerships between Chinese AI companies and Southeast Asian countries will only expand in the coming years. There are multiple benefits to this, such as sharing expertise and fostering innovation. Chinese companies bring advanced technologies and extensive experience, while Southeast Asia offers dynamic markets and unique application scenarios for AI. However, there may be concerns over data privacy and regulatory bodies that Chinese companies must navigate.
There are several ways for the collaboration between Chinese AI companies and Southeast Asian countries to evolve, 2 of which are the most important. First, you have to look at collaboration in research and development, such as setting up AI labs, sharing technologies and data, and designing Large Language Models (LLM), to name a few. Second, is collaboration in industries and government departments, such as building solutions in finance, education, healthcare and more.
In terms of talent acquisition and development, how does Southeast Asia compare to China? What strategies are you employing to build a skilled AI workforce in the region?
There are several key dimensions between SEA and China that we can use as a base of comparison. Southeast Asia has a growing pool of tech talent. However, compared to China, there is still a gap in the availability of specialised AI expertise. China has a larger base of experienced AI professionals and a more established ecosystem for AI talent development, and hence for talent education SEA still needs more specialised training and development programs to build the necessary skills.
This leads to our next dimension: the development of AI in industries. SEA is in the early stages of AI development compared to China. SEA is rapidly catching up but remains in a developmental phase. The region has a strong foundation in technology and innovation, with countries like Singapore leading the charge in AI adoption and implementation.
SEA's adoption still varies largely between countries, but overall lags behind China. However, we notice that SEA economies are slowly ramping up their adoption of AI.
To build a skilled AI workforce in Southeast Asia, we are focusing on several strategies. These include partnering with local and regional stakeholders from the private and public sectors to foster talent and innovation, and creating a collaborative work environment that attracts top talent. We first are targeting the areas of marketing, sales and with our business partners. This would later branch into more tech-focused sectors such as programming and data processing, before investing in upskilling initiatives in the areas of R&D. All these efforts will ensure our team remains at the forefront of AI advancements.
What role do you believe government policies and regulations play in shaping the AI landscape in Southeast Asia? Are there any specific policies you find particularly supportive or restrictive?
Government policies and regulations are crucial in painting the future of AI in SEA. Many governments are creating supportive policies to embrace AI, which is good for the economy and the growth of the AI industry. For example, in Singapore, the National AI Strategy is a testament to the government's belief in AI's transformative power. Thailand also has AI Thailand, preparing for essential infrastructure for AI development in Thailand.
However, regulations can also pose challenges. Strict data protection laws, while necessary for privacy, can sometimes hinder data sharing and collaboration, which are vital for AI development. Governments need to strike a balance between regulation and innovation, creating an environment that protects users while fostering technological advancement. Malaysia is a good example of this balance. Microsoft has recently pumped in $2.2 billion to build AI infrastructure, but the government is also coming up with AI governance and codes of ethics to ensure AI is utilised responsibly.
What are some of the key trends and emerging technologies in the AI field that you believe will shape the future of Southeast Asia's AI industry?
Some emerging technologies we foresee include Natural Language Processing (NLP). With SEA as a language-diverse region, advancements in NLP will be critical for improving communication and accessibility across different languages and dialects. We foresee iFLYTEK's products such as the Smart Translator being a crucial tool to help promote effective communication across the region and overcome language barriers. LLM will also prove crucial for SEA's AI industry, as the region is denoted with multiple languages. We believe that SEA building its own LLM would be highly beneficial in the long run.
Other technologies such as AI-driven smart city initiatives will enhance urban planning, traffic management, and public safety, improving the quality of life for residents. In addition, AI will continue to drive innovations in the financial sector, including fraud detection, risk assessment, and personalised financial services. We are noticing SEA governments investing in more AI technologies in these sectors.
Looking ahead, what are your long-term goals for your company's presence in Southeast Asia? How do you plan to contribute to the growth and development of the region's AI industry?
Our long-term goals and strategies for the Southeast Asia (SEA) region align with our targets for global expansion but also include specific objectives tailored to SEA. We are focusing on strategic partnerships, enhancing brand awareness, and customising our products and services to meet the unique needs of the region's diverse markets. In Singapore, our focus will revolve around fostering collaborations within the finance, government, and education sectors. In Thailand, we will prioritise initiatives related to tourism, media, and social engagement. In Malaysia and Indonesia, our emphasis will be on cultivating partnerships in mobile internet, e-commerce, and real estate domains. We also intend to contribute to the region's AI industry by investing in local talent development, supporting research and development initiatives, and promoting ethical AI practices.
Moreover, adapting our offerings to local languages, dialects, and cultural nuances is essential for success in SEA. We will be prioritising localisation to ensure our products and services resonate with users in the region. For example, we recently announced a collaboration with Zense Entertainment and Chulalongkorn University in Thailand by signing a Memorandum of Understanding (MOU) to accelerate the advancement of Thai speech recognition. Concurrently, we will gradually establish local offices and teams in these countries to facilitate deeper integration within the iFLYTEK ecosystem.
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