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CapitaLand Group and Microsoft have recently signed a memorandum of understanding (MoU) to collaborate and leverage artificial intelligence and advanced technologies for their businesses. Under this partnership, CapitaLand will join Microsoft Singapore’s AI Pinnacle Program, which will allow the company to utilize Microsoft’s platforms, services, and solutions to improve customer engagement and operational efficiency across its various businesses, including funds, investments, retail, lodging, and development.
Some specific areas of collaboration between the two companies include infrastructure development, where CapitaLand will leverage Microsoft’s Azure cloud computing platform to design data centers and develop new products for CapitaLand Investment. Additionally, AI, data analytics, and machine learning will also be integrated into CapitaLand’s digital transformation efforts to further enhance its business operations.
Quah Ley Hoon, Group Chief Corporate Officer of CapitaLand Investment, says that this collaboration with Microsoft is a major step in the company’s digital transformation journey, and AI will play a crucial role in shaping its future by creating operational efficiencies and value for stakeholders.
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CapitaLand Investment, the real asset management arm of CapitaLand, has also signed an MoU with the Singapore Business Federation (SBF) to establish a framework for digitalization and integration of AI across its retail ecosystem. This framework aims to facilitate the adoption of AI, data analytics, and cybersecurity solutions, thereby enhancing business efficiency and competitiveness. The partnership will also focus on developing AI-focused competencies and skills among retail tenants.
In other news, CapitaLand Investment has recently acquired three properties in Singapore and Thailand, and these acquisitions are expected to lead to a significant decline in its Patmi (profit after tax and minority interest). However, its cash flow is expected to remain stable. Also, the penthouse at One Pearl Bank has been sold, and the development has reached a 100% sale aggregate.