Singapore Uses AI to Give SMEs Access to International Trade Opportunities

"The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) are partnering with six private sector partners to create a Proof of Concept hybrid business data and digital solutions hub.

The initiative will leverage on Artificial Intelligence (AI) to facilitate the internationalisation and digitalisation of SMEs. The six partners are GlobalLinker, Mastercard, SAP, Yellow Pages and 99%SME (DBS Bank and SingTel).

While SMEs are often said to be the pillars of the economy, SMEs often face difficulties in achieving access to cross-border trade opportunities, or financial services.Concurrently, solution providers with innovative and relevant SME solutions – ranging from logistics, professional services, financing or payments – face challenges in reaching out to these SMEs. The POC aims to provide a platform to address these challenges and bridge the gaps."

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