Digital platforms create value by facilitating exchanges between two or more interdependent groups. Typically, such platforms aggregate ecosystems of end-users and producers (demand and supply) to transact with each other through technology. This enables increased information sharing, enhances collaboration, drives innovation in new products and services, and encourages growing network effects as more players join.
To enable AI and data services
An Accenture report suggests that AI and data services can enable industries to approach problems differently and find new, innovative approaches or solutions. Data has thus been described as the “quintessential currency” for digital platforms to do so. Those platforms which have both unique data and the capacity to package innovative new services around this data for third-parties are expected to gain larger market shares more quickly. Particularly, we see platform-driven ecosystems as helping to drive potential revenue streams for adopters of tech such as AI.
Award of digital platforms players to enable AI and data services
IMDA sees there is room to capitalize on utilizing digital platforms to enable AI and data services. Thus, we issued a Call for Submission in July 2017 to identify leading industry partners to catalyse adoption through platform-driven ecosystems. Submissions were required to include making AI and data services available as part of their platform proposal. Following an evaluation, IMDA will be supporting the following four:
IMDA will be working with the awardees to develop their business proposal into proof-of-concept prototypes and eventually, production.
For enquiries, please contact DEPlatform@imda.gov.sg.
For download: Fact Sheet on Digital Platform to Enable AI and Data Services
Reading Resources for Digital Platform Economy: