Cisco and National University of Singapore (NUS) have teamed up to launch a “corporate laboratory” to drive research development in five key areas, including artificial intelligence (AI), cybersecurity, and healthcare. The partners have pledged an investment of SG$54 million ($40 million) over five years.
Called the Cisco-NUS Accelerated Digital Economy Corporate Laboratory, the research facility is located at the university’s Kent Ridge campus and is supported by National Research Foundation Singapore (NRF), according to a joint statement released Friday.
The lab would employ more than 100 researchers, analysts, engineers, and students, and work on 15 research projects. Scholarships also would be awarded to doctoral students involved in such projects.
After tilting last year’s budget towards ’emergency support’ in light of the global pandemic, Singapore’s government will spend SG$24 billion ($18.1 billion) over the next three years to help local businesses innovate and build capabilities needed to take them through the next phase of transformation.