Singapore Aims to Enhance SME Innovation and Customer Experience Through Generative AI Solutions
Singapore, February 7, 2024 – In a landmark move, Enterprise Singapore (EnterpriseSG) and the Infocomm Media Development Authority (IMDA) have unveiled the first-ever Generative Artificial Intelligence (GenAI) Sandbox designed specifically for small and medium-sized enterprises (SMEs). This initiative seeks to provide SMEs with the tools and knowledge to leverage GenAI technology, fostering innovation, enhancing productivity, and upgrading customer service experiences.
The GenAI Sandbox is set to benefit approximately 300 SMEs across diverse sectors, including retail, food and beverage, education, and hospitality. It offers access to a suite of GenAI solutions aimed at boosting marketing, sales, and customer engagement. Marketing and Sales solutions within the Sandbox will empower SMEs to create unique and personalized content rapidly, streamlining their marketing efforts. Meanwhile, Customer Engagement solutions will introduce GenAI-powered chatbots, enabling businesses to offer personalized service and support, thereby optimizing operational efficiency and elevating customer experiences.
EnterpriseSG and IMDA have carefully selected 13 GenAI solutions for the Sandbox, with a rollout expected by the end of February 2024. These solutions were chosen for their ease of use and deployment, in collaboration with industry experts and academic institutions.
The program is open to all local SMEs, with successful applicants receiving grant support from IMDA to trial a GenAI solution for three months. This hands-on experience aims to familiarize SMEs with GenAI technology and demonstrate its benefits. The application period will close by the end of May 2024, or when capacity is reached. Feedback from participating SMEs will be evaluated to consider broader adoption of GenAI applications within Singapore’s business community.
Leong Der Yao, Assistant Chief Executive, Sectoral Transformation Group at IMDA, emphasized the transformative potential of GenAI for SMEs, stating that the Sandbox would facilitate greater access to this technology, aiding in their digital transformation efforts. Soh Leng Wan, Assistant Chief Executive Officer, Manufacturing & Engineering at Enterprise Singapore, encouraged SMEs to participate and discover the advantages of GenAI solutions.
This initiative is part of Singapore’s broader strategy to enhance its AI ecosystem and stimulate local business growth through digital innovation.
Source – Enterprose SG & IMDA
