April 2020 – 4 May 2020: As part of the Group’s strategy to continuously improve its product offering, the Group has today incorporated a new company called DEX-lab Pte Ltd (“DEX-lab”) in Singapore to focus on the development and marketing of artificial intelligence (“AI”) related products and services in the robotics industry. The Group will hold a 60% stake in DEX-lab while Mr Loh Guan Huat Sunny, a businessman with extensive experience and network of business contacts in Asia Pacific region, will hold the remaining 40% stake in DEX-lab.
“As emerging algorithm-driven AI and robotics continues to spread, this is an opportune time for the Group to take another active step to embrace these technologies and uncover their potential.” Mr. Lai Teik Kin, Group Chief Executive Officer of Nova MSC Berhad, said.
AI is wide-ranging branch of computer science concerned with building smart computer programs or machines capable of performing tasks that typically require human intelligence. It contains many subfields such as machine learning, deep learning, neural network, natural languages processing and other techniques to solve actual problems.
Mr. Loh, Chairman of DEX-lab, commented, “There is enormous potential for AI to transform businesses by reducing costs, managing risks, streamlining operations, accelerating growth, and fueling innovation. Several countries in the Asia Pacific have already established strategies or initiatives regarding AI. I am excited to bring about such value propositions and generate further business development opportunities.”
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