February 24, 2024

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HK govt tech lab release new AI solution

Hong Kong’s Smart Government Innovation Lab has been putting out a slew of innovations develops by its various incubatees.

Today, one of its supported firms developed a solution which is now ready to be acquired by other firms, government agencies and academic institutions.

Solution description

The firm is an AI solution company focusing on deep learning and natural language processing.

With a team of over 40 engineers and data scientists based in Hong Kong, it is one of the portfolio companies of Pacific Century Group which also owns PCCW, FWD Insurance and PineBridge.

They are also under Cyberport’s incubation program. In the last two years, the firm has successfully implemented AI solution with more than 10 financial institutions including investment banks, commercial banks and other financial institutions.

One of its focuses is a document intelligence solution. By leveraging a proprietary AI model, the solution can recognise the pattern and layout of various electronic document type and extract insight and user-defined knowledge from it.

For example, the solution can extract specific accounting items in a financial statement and generate analytics based on the extracted information.

Application Areas

The technology can be applied in the areas of Commerce and Industry, Development as well as Finance.

Technologies Used

The solution employs Artificial Intelligence (AI), Cloud Computing, Data Analytics, Deep Learning, Machine Learning, Natural Language Processing as well as Robotic Process Automation.

Use case

With fine-tuning of the existing solution, the firm can build an end-to-end solution to improve the process in the public services domain.

The government need to handle a sizable amount of forms and documents daily and the solution can help:

  1. increase the efficiency in handling these documents
  2. enhance the accuracy of processing these documents
  3. identify pattern lies in these documents and provides insights

For example, the solution can apply an AI verification model to check the information extracted from the application form and notify applicants for potential errors.

The solution can also perform big data analysis to identify the pattern of deceptive information for all the information submitted and flag out relevant new cases to officers to further investigate.

About the Smart Government Innovation Lab

In 2018, the Government established the Smart Government Innovation Lab to explore hi-tech products such as AI and relevant technologies, including machine learning, big data analytics, cognitive systems and intelligent agent, as well as blockchain and robotics from firms, especially local start-ups.

The Lab is always on the lookout for innovation and technology (I&T) solutions that are conducive to enhancing public services or their operational effectiveness.

I&T suppliers are encouraged to regularly visit the Lab’s website to check on the current business and operational needs in public service delivery and propose innovative solutions or product suggestions to address them.

Enabling the tech sector to flourish

According to a recent press release, the HKSAR Government announced that the Innovation & Technology Commission launched enhancement measures for the Technology Voucher Programme.

The commission said the move is to further assist enterprises and organisations in making use of technology to improve their business operations and enhance their competitiveness.

Starting from 1 April 2020, the Government’s funding ratio for each project under the programme will be raised from two-thirds to three-quarters.

The funding ceiling per applicant will be increased from $400,000 to $600,000 and the maximum number of approved projects will also be increased from four to six.

Under the Innovation & Technology Fund, the programme aims to subsidise local enterprises and organisations to use technological services and solutions to improve productivity or upgrade or transform their business processes.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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