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AvePoint (AVPT) has launched its AI Lab in Singapore, supported by the Singapore Economic Development Board (EDB), to advance AI-driven research and innovation. The lab will focus on developing solutions for education and FinTech sectors, with plans to hire over 25 AI researchers and program specialists in the next three years. The initiative aims to commercialize research into AvePoint’s SaaS products and foster international collaboration through a global rotational program connecting local PhD researchers with AvePoint’s HQ team. The lab will develop AI technologies for personalized learning, banking process automation, and cross-sector solutions for collaboration and knowledge management.
AvePoint (AVPT) ha lanciato il suo AI Lab a Singapore, supportato dal Singapore Economic Development Board (EDB), per promuovere la ricerca e l’innovazione guidate dall’IA. Il laboratorio si concentrerà sullo sviluppo di soluzioni per i settori dell’istruzione e del FinTech, con piani di assunzione di oltre 25 ricercatori e specialisti del programma nei prossimi tre anni. L’iniziativa mira a commercializzare la ricerca nei prodotti SaaS di AvePoint e a promuovere la collaborazione internazionale attraverso un programma di rotazione globale che collega i ricercatori locali con il team della sede centrale di AvePoint. Il laboratorio svilupperà tecnologie di intelligenza artificiale per l’apprendimento personalizzato, l’automazione dei processi bancari e soluzioni intersettoriali per la collaborazione e la gestione della conoscenza.
AvePoint (AVPT) ha lanzado su AI Lab en Singapur, apoyado por la Junta de Desarrollo Económico de Singapur (EDB), para avanzar en la investigación y la innovación impulsadas por IA. El laboratorio se centrará en desarrollar soluciones para los sectores de educación y FinTech, con planes de contratar a más de 25 investigadores y especialistas en programas en los próximos tres años. La iniciativa tiene como objetivo comercializar la investigación en los productos SaaS de AvePoint y fomentar la colaboración internacional a través de un programa de rotación global que conecte a investigadores locales de doctorado con el equipo de la sede de AvePoint. El laboratorio desarrollará tecnologías de IA para el aprendizaje personalizado, la automatización de procesos bancarios y soluciones intersectoriales para la colaboración y la gestión del conocimiento.
AvePoint (AVPT)는 싱가포르 경제 개발청(EDB)의 지원을 받아 싱가포르에 AI 실험실을 개설하여 AI 기반 연구 및 혁신을 발전시키고 있습니다. 이 실험실은 교육 및 핀테크 분야를 위한 솔루션 개발에 집중하며, 향후 3년 동안 25명 이상의 AI 연구자 및 프로그램 전문가를 채용할 계획입니다. 이 이니셔티브는 AvePoint의 SaaS 제품에 대한 연구를 상용화하고, 현지 박사 연구원과 AvePoint 본사 팀을 연결하는 글로벌 순환 프로그램을 통해 국제 협업을 촉진하는 것을 목표로 하고 있습니다. 이 실험실은 개인화된 학습, 은행 프로세스 자동화 및 협업과 지식 관리를 위한 부문 간 솔루션을 위한 AI 기술을 개발합니다.
AvePoint (AVPT) a lancé son laboratoire d’IA à Singapour, soutenu par le Singapore Economic Development Board (EDB), pour faire avancer la recherche et l’innovation axées sur l’IA. Le laboratoire se concentrera sur le développement de solutions pour les secteurs de l’éducation et du FinTech, avec des projets d’embauche de plus de 25 chercheurs en IA et spécialistes de programmes au cours des trois prochaines années. L’initiative vise à commercialiser la recherche dans les produits SaaS d’AvePoint et à favoriser la collaboration internationale grâce à un programme de rotation mondial qui relie des chercheurs locaux en doctorat à l’équipe du siège d’AvePoint. Le laboratoire développera des technologies IA pour l’apprentissage personnalisé, l’automatisation des processus bancaires et des solutions intersectorielles pour la collaboration et la gestion des connaissances.
AvePoint (AVPT) hat sein AI Lab in Singapur eröffnet, unterstützt von der Singapore Economic Development Board (EDB), um KI-gesteuerte Forschung und Innovation voranzutreiben. Das Labor wird sich auf die Entwicklung von Lösungen für die Bildungs– und FinTech-Branchen konzentrieren und plant in den nächsten drei Jahren die Einstellung von über 25 KI-Forschern und Programm-Spezialisten. Die Initiative zielt darauf ab, Forschung in die SaaS-Produkte von AvePoint zu kommerzialisieren und internationale Zusammenarbeit durch ein globales Rotationsprogramm zu fördern, das lokale Doktorandenforschende mit dem Team der Hauptzentrale von AvePoint verbindet. Das Labor wird KI-Technologien für personalisiertes Lernen, Automatisierung von Bankprozessen sowie sektorübergreifende Lösungen für Zusammenarbeit und Wissensmanagement entwickeln.
Positive
- Expansion of R&D capabilities with new AI Lab in Singapore
- Strategic partnership with Singapore Economic Development Board
- Planned hiring of 25+ AI researchers over next 3 years
- Potential commercialization opportunities through SaaS product integration
Insights
The launch of AvePoint’s AI Lab in Singapore represents a strategic expansion in AI capabilities, but with immediate financial impact. While the initiative includes hiring 25 researchers over three years and aims to enhance the company’s SaaS offerings, the investment scale and long-term R&D nature suggest minimal short-term revenue implications.
The focus on education and fintech sectors shows promise for future product development, particularly in areas like personalized learning and automated KYC services. However, the commercialization timeline and potential market impact remain uncertain. The Singapore Economic Development Board’s support provides credibility and potential funding benefits, though specific financial terms aren’t disclosed.
For investors, this represents a long-term strategic investment in AI capabilities rather than a near-term catalyst. The initiative aligns with industry trends but requires patience for potential returns.
Supported by the Singapore Economic Development Board (EDB), AvePoint continues its investment in AI research and development
SINGAPORE, Nov. 06, 2024 (GLOBE NEWSWIRE) — AvePoint (Nasdaq: AVPT), the global leader in data management and data governance, today announced the launch of its AI Lab, supported by the Singapore Economic Development Board (EDB), to advance AI-driven research and innovation in the cutting-edge domains of artificial intelligence (AI) and machine learning. The AI Lab is set to address global industry challenges by fostering new research and embedding AI across the AvePoint Confidence Platform.
The AI Lab will serve as a central hub for high-impact research in AI, focusing on spurring industry-relevant R&D while having a global reach. Researchers, drawn from both local and international talent pools, will have the opportunity to work with AvePoint’s global teams on use cases from different countries, ensuring an international exchange of knowledge and insights.
The lab will hire over 25 AI researchers and program specialists in the next three years to support these initiatives, driving AI innovation not only in Singapore but also across the globe. It will enable local PhD-qualified researchers to work with top foreign researchers via a global rotational program to AvePoint’s HQ. Additionally, the lab will provide collaboration with a network of universities, and with AvePoint’s global product teams.
“We are excited to launch the AvePoint AI Lab, which will be instrumental in advancing AI-driven research and addressing industry needs,” said Wei Chen, Head of R&D, AvePoint. “With this lab, we aim to develop impactful solutions that benefit industries globally while enhancing our SaaS products.”
Global Focus on AI Innovation
With its international exchange element, the AvePoint AI Lab will develop AI-driven solutions for key sectors including:
- Education: AI technologies will be harnessed to transform learning and assessments, offering personalized, AI-driven academic advisors tailored to students’ levels of study.
- FinTech: AI will streamline banking processes through advanced data aggregation and fraud detection, as well as automating Know Your Customer (KYC) services for improved financial product recommendations.
The AI Lab will also develop solutions that cut across various sectors, such as enhancing collaboration and knowledge management through AI, and creating innovative recommendation systems for career development and lifelong learning, applicable to a global audience.
Philbert Gomez, Executive Director & Head, Digital Industry Singapore (DISG) said, “EDB is committed to fostering AI innovation that addresses real-world industry challenges. We are pleased to support AvePoint’s AI Lab in Singapore, which will not only advance cutting-edge AI research but also translate these innovations into practical solutions for global markets. This initiative aligns with our goal of positioning Singapore as a hub for AI talent and innovation, creating high-value job opportunities and driving the development of AI applications that can enhance productivity and competitiveness across various sectors worldwide.”
Commercialization and Global Business Impact
The AI Lab’s primary goal is to commercialize its research into AvePoint’s SaaS products, creating new business opportunities while enhancing existing product offerings to address evolving global market needs.
“As we explore new areas of AI applications, our focus remains on translating these breakthroughs into practical applications for our customers worldwide,” added Wei Chen. “This lab enables us to collaborate on a global scale, ensuring that the innovations we develop here in Singapore can impact industries around the world.”
About AvePoint
Securing the Future. AvePoint is the global leader in data management and data governance, and over 21,000 customers worldwide rely on our solutions to secure the digital workplace across Microsoft, Google, Salesforce and other cloud environments. AvePoint’s global partner program includes over 3,500 managed service providers, value-added resellers, and systems integrators, with our solutions available in more than 100 cloud marketplaces.
Disclosure Information
AvePoint uses the https://ir.avepoint.com/ website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and other federal securities laws including statements regarding the future performance of and market opportunities for AvePoint. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in the competitive and regulated industries in which AvePoint operates, variations in operating performance across competitors, changes in laws and regulations affecting AvePoint’s business and changes in AvePoint’s ability to implement business plans, forecasts, and ability to identify and realize additional opportunities, and the risk of downturns in the market and the technology industry. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AvePoint’s most recent Annual Report on Form 10-K and its registration statement on Form S-3 and related prospectus and prospectus supplements filed with the SEC. Copies of these and other documents filed by AvePoint from time to time are available on the SEC’s website, www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and AvePoint does not assume any obligation and does not intend to update or revise these forward-looking statements after the date of this release, whether as a result of new information, future events, or otherwise, except as required by law. AvePoint does not give any assurance that it will achieve its expectations.
Investor Contact
AvePoint
Jamie Arestia
ir@avepoint.com
(551) 220-5654
Media Contact
AvePoint
Nicole Caci
pr@avepoint.com
(201) 201-8143
FAQ
What is the purpose of AvePoint’s (AVPT) new AI Lab in Singapore?
AvePoint’s AI Lab in Singapore aims to advance AI-driven research and innovation, focusing on developing solutions for education and FinTech sectors, while commercializing research into AvePoint’s SaaS products.
How many researchers will AVPT hire for its Singapore AI Lab?
AvePoint plans to hire over 25 AI researchers and program specialists over the next three years for its Singapore AI Lab.
Which sectors will AVPT’s Singapore AI Lab focus on?
The AI Lab will primarily focus on developing solutions for education (personalized learning and assessments) and FinTech (banking processes, fraud detection, and KYC services).
What is the role of Singapore’s EDB in AVPT’s AI Lab?
The Singapore Economic Development Board (EDB) is supporting AvePoint’s AI Lab as part of its commitment to fostering AI innovation and positioning Singapore as a hub for AI talent and innovation.
