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Legal Entities Discussed in this article:CapitaLand Group, Microsoft, and Singapore Business Federation
CapitaLand Group has recently entered into a memorandum of understanding (MoU) with Microsoft, aiming to tap into the potential of artificial intelligence (AI) and advanced technologies for its various businesses. Through this partnership, CapitaLand will join Microsoft Singapore’s AI Pinnacle Program, enabling it to make use of Microsoft’s platforms, services, and solutions to enhance customer engagement and boost operational efficiency across its funds, investments, retail, lodging, and development sectors. The collaboration will explore potential areas of collaboration, such as infrastructure development and the utilization of Microsoft’s Azure cloud computing platform to design and develop data centers for CapitaLand Investment. In addition, the two companies will work together to integrate AI, data analytics, and machine learning to drive CapitaLand’s digital and business transformation efforts.
Quah Ley Hoon, the group chief corporate officer of CapitaLand Investment, believes that this partnership with Microsoft is a significant step forward in its digital transformation journey. AI will play a crucial role in shaping the company’s future by driving operational efficiencies and creating value for stakeholders.
In a separate agreement, CapitaLand Investment (CLI), the real asset management arm of CapitaLand, has signed an MoU with the Singapore Business Federation (SBF) to establish a framework for digitalization and integration of AI across CLI’s retail ecosystem. The goal is to promote the adoption and proof of concept for AI, data analytics, and cybersecurity solutions, which will improve business efficiency and competitiveness. The partnership will also focus on developing AI-focused competency and skills among retail tenants.
Overall, this collaboration between CapitaLand and Microsoft is set to bring about a significant transformation in the way CapitaLand operates and serves its customers through the adoption of advanced technologies and AI.