Mumbai-headquartered GlobalLinker on Tuesday said it has been selected to partner with the Monetary Authority of Singapore and Info-communications Media Development Authority (IMDA) to create a collaborative Artificial Intelligence (AI)-driven digital solutions hub.
The initiative, known as "Business sans Borders", will leverage on AI to facilitate the internationalisation and digitalisation of Small and Medium-sized Enterprises ("SMEs").
GlobalLinker, which provides a business networking platform for SMEs and start-ups, is the only Indian company among a clutch of global entities that has been selected as partners for the Business sans Borders initiative.
"The Business sans Borders' initiative is significant as there exists a strong need for specialist value-added services from organisations committed to SMEs," said Sameer Vakil, Co-founder and CEO, GlobalLinker.
Mastercard, SAP, Yellow Pages, DBS Bank and Singtel, all of which serve SMEs in various capacities, are among the other partners in the initiative.
The announcement was made by the Monetary Authority of Singapore (MAS) at the ongoing Singapore Fintech Festival which started on Monday.
Through this alliance, the various partner organisations will collaborate to help SMEs with digital solutions that will strengthen their ability to conduct cross-border and domestic trade.
The hub will also allow SMEs to do business with each other in more efficient and effective ways, GlobalLinker said, adding that the initiative can potentially benefit over 60 million Indian SMEs.
For the first time ever, SMEs globally will have access to a multi-ecosystem sandbox environment containing anonymised SME data for testing out new digital services, an app store offering various SME targeted services such as HR, logistics and finance as well as an AI engine to match SMEs with different suppliers of services and products, the company said.
GlobalLinker focuses on connecting SMEs with each other so that they can enjoy networking powered by an algorithm based "match-making".
--IANIS
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