Bain & Company has announced the launch of an AI Innovation Hub in Singapore, supported by the Singapore Economic Development Board, to drive AI transformation across Southeast Asia. This initiative is part of a broader strategy outlined in Bain’s new report, “The Southeast Asia CEO’s Guide to AI Transformation,” which emphasises the need for CEOs to approach AI as a business transformation rather than just a technological upgrade.
The report highlights that whilst AI is reshaping global competition, its impact in Southeast Asia is still unclear due to the region’s unique characteristics, such as fragmented markets and low labour costs. Aadarsh Baijal, senior partner at Bain & Company, stated, “CEOs need to recognise that a successful AI strategy goes beyond deploying tools. Leaders should understand how AI will disrupt their market and anchor adoption in concrete business outcomes.”
The AI Innovation Hub will focus on developing AI solutions for sectors including advanced manufacturing, energy, financial services, healthcare, and retail. It aims to help companies transition from experimentation to enterprise-wide transformation by delivering proofs of concept and minimum viable products.
Mohan Jayaraman, another senior partner at Bain, noted the importance of leveraging existing talent within organisations for successful AI scaling. “From our work with clients across the region, we’ve seen that lasting impact comes when existing teams lead the change,” he said.
With over a thousand AI start-ups in Singapore and significant economic benefits projected by 2030, the hub is poised to contribute significantly to the region’s AI ecosystem. Junie Fo, Vice President of Professional Services at EDB, remarked, “Bain’s new AI Innovation hub is an exciting addition to Singapore’s vibrant and growing AI ecosystem.”
