15 May 2023 — The National University of Singapore (NUS) Business School and School of Computing (NUS Computing) signed a Memorandum of Understanding (MOU) with Wuxi Economic Development District (WEDD) on 5 May 2023, to advance collaboration in research and development (R&D), and talent cultivation in Big Data, Business Analytics, and Artificial Intelligence.
This strategic partnership provides a platform for NUS researchers to collaborate with local and multinational companies in Wuxi on joint R&D activities. It also aims to build a pipeline of talent to support the advancement of high-technology industries and economic growth in Wuxi and Singapore.
The NUS signatories for the MOU were Prof Tan Kian Lee, Dean, NUS Computing and Prof Andrew Rose, Dean, NUS Business School while Ms Yan Qin, Deputy Director of the Management Committee in Wuxi Economic Development Zone represented WEDD.
Prof Susanna Leong, Vice Provost of Masters' Programmes & Lifelong Education and Dean of the School of Continuing and Lifelong Education who witnessed the MOU signing, said, “The collaboration reinforces NUS' commitment to contribute impactful solutions that address the world’s challenges and promote regional growth. Through this cooperation, our students and researchers will have the opportunity to work alongside industry leaders, driving innovation in the areas of big data, business analytics, and artificial intelligence. We look forward to many fruitful accomplishments of this partnership”.
Also witnessing the MOU signing was Mr Zhao Jianjun, Mayor of Wuxi who said, “We are honoured to collaborate with NUS and have high expectations for a fruitful outcome. As a world-class university, NUS possesses exceptional strengths, and Wuxi has a robust industrial foundation. By leveraging the advantages of both parties, we can accelerate scientific research and talent cultivation to drive technology transformation and achieve mutual success.”
A Research Collaboration Agreement between NUS Business Analytics Centre (BAC) and PSR Technology (Wuxi) was also signed that day.
More funding from WEDD will be channelled towards R&D projects in Artificial Intelligence and Business Analytics in sectors such as semiconductors, new energy, and the digital economy.
The first research project, which focuses on generative AI for the manufacturing industry, is set to commence in mid-2023. Involving an investment of S$600,000, it is a joint effort between NUS Business Analytics Centre, a centre supported by NUS Business School and NUS School of Computing, and PSR Technology, an advanced manufacturing company in WEDD. Additionally, the partnership includes knowledge exchange and the facilitation of incubation for related high-tech start-ups.
The collaboration in R&D will leverage NUS’ world-class research expertise and accelerate the pace of innovation, leading to the development of cutting-edge technologies, products, or services that benefit economic growth.
This collaboration would also support talent development in the high-tech industry through scholarships. PSR Technology will be the first company in WEDD to offer 6 full scholarships to students in NUS’ Master of Science in Business Analytics (MSBA) Programme over the next three years. It will also broaden internship opportunities for students through access to high-tech companies in WEDD. These scholarships and internship opportunities will allow students to develop practical skills, network with industry professionals, and apply their knowledge to tackle real-world problems.