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How Asia's leading AI venture builder harnesses the power of purpose

Singapore, 14 July 2022 – Nobel Prize winning economist Milton Freidman once wrote that there is “one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits, so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.” (Capitalism and Freedom, Milton Friedman, 1962).

After the post-crisis era, and in the current age of rapid technological change and business model disruption, C-suites have begun to find themselves caught between shareholders wanting them to adapt quickly to maximize profits and head off the competition, employees who no longer see themselves as in a job for life and customers whose expectations have shifted.

We got up close and personal with some key members and advisors of AIV50 on their thoughts about how it positions itself in the marketplace against this backdrop.

When asked if AI can change the world and the way industries operate, Cody Lee, AIV Global Head for Markets and Ventures said, “The advancement of AI, combined with the advances in telecommunications, computing and chip development, has enabled large scale automation of decisions and work with a higher level of efficiency and precision across all industries.”

“Unlike many players in the industry, AIV50 possesses the ability to build AI systems by leveraging on natural language processing and generation and delivers them quickly and effectively across clients in different industries in a cost effective manner.”

Charles Cheong, AIV50’s Global Head, Investments, Operations and Technology, agreed and added, “AI is already changing the world with the high availability of data and with its effective use for automation. The world is doing things faster, at lower costs while increasing revenues with the help of AI, delivering real tangible business value.”

“AIV50 is unique with its good business verticals coverage. It has real proven AI projects that help solve specific business challenges.”

Malik Hassan, AIV50’s Global Head, Strategic Planning maintained that “AI is widely used today to facilitate productivity. While it can never replace a human, it does take away many of the predictable actions that can free up valuable time for humans to make more productive use of their time. AIV produces the AI that runs many of the day-to-day functions in one’s daily life. It is AIV’s unique ability to customize AI to suit specific needs and is not a one-size-fits-all kind of technology.”

AIV50 is a tech venture company with a portfolio of 50 AI assets in 10 key verticals. The special purpose company forms part of a joint incubation and venture building project by MyFinB Group (MFB) and VSC Portfolio Investments (VSCPI). AIV50 is an integrated AI Group that resolves industry & organizational pain points to achieve higher productivity, profitability and sustainability goals.

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