Prudential plc launched the Prudential AI Lab in Singapore to accelerate the organisation's adoption of AI, machine learning, and generative AI.
Anil Wadhwani, chief executive officer of Prudential plc, said that the AI Lab will accelerate application development, including predictive analytics, hyper-personalised customer engagement, and real-time guidance for agents.
"We are just beginning to explore this technology's vast possibilities and value. The Prudential AI Lab will significantly enhance our ability to deliver exceptional experiences for our customers, agents, and financial representatives across all markets," he added.
Prudential AI lab
The Prudential AI Lab aims to incubate AI-powered solutions while integrating AI capabilities into the company's operations, services, and products.
Launched in partnership with Google Cloud, it 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).
Gillian Tan, assistant managing director (Development and International) and chief sustainability officer of MAS, said:
"Prudential's AI Lab is aligned with Singapore's Smart Nation 2.0 goal to encourage businesses to utilise AI and technology to raise productivity, transform and serve customers better. MAS will continue to support financial institutions as they develop capabilities and harness AI to enhance their customer and advisory services, fraud detection, and risk insights generation."
AI ecosystem
The Lab aims to collaborate closely with institutes of higher learning (IHLs) to expose students to hands-on experiences and internships.
It already has agreements with several IHLs, including the National University of Singapore Asian Institute of Digital Finance, Singapore Management University School of Computing and Information Systems, Republic Polytechnic, and Singapore Polytechnic.
The Lab also aims to partner with research centres, government agencies, and technology partners to facilitate knowledge sharing and innovation.
