Singapore grants Alibaba AI Patent in record time.
Written by Daniel van Herck :: [Friday, 06 September 2019 09:34]
Created Friday, 06 September 2019 Hits 609 views
Over the course of the past few decades, Singapore has grown into one of Asia’s most vibrant economies, and much of the credit for the stupendous growth is down to the fact that the government does not indulge in bureaucratic delay when it comes to business deals. That has seen billion of dollars in investment flowing into the country over the course of the past decades, and it will continue in the same vein as long as the same principles are maintained. In a new development, it has emerged that the Chinese e-commerce and tech giant Alibaba has been granted an Artificial Intelligence (AI) by the concerned authorities in Singapore within a record time of 3 months. As it has now become well known, Alibaba is now no longer only an e-commerce company and has expanded into a range of business, including payments and tech in a big way. The patent was granted by the Intellectual Property Office of Singapore (IPOS) under the provisions of its Accelerated Initiative for Artificial Intelligence (AI2) initiative. IPOS went on to state that usually; it takes around two to four years for granting such a patent. The larger point about such an accelerated grant is that it is a signal to tech giants as well as innovators in the rest of the world. It shows that innovators, startups and other tech giants can now bring in their AI related innovations to Singapore without fear of waiting years for a patent.