CapitaLand Group recently announced a new partnership with Microsoft to leverage artificial intelligence (AI) and advanced technologies in its various businesses. Under this memorandum of understanding (MOU), CapitaLand will have access to Microsoft’s AI Pinnacle Program, enabling the company to utilize various Microsoft platforms, services, and solutions to improve customer engagement and operational efficiency in its funds, investments, retail, lodging, and development businesses.
Specific areas of collaboration between CapitaLand and Microsoft will include infrastructure development, utilizing Microsoft’s Azure cloud computing platform to enhance the design and products of CapitaLand Investment’s data centers, and integrating AI, data analytics, and machine learning to strengthen the company’s digital and business transformation efforts.
According to Quah Ley Hoon, Group Chief Corporate Officer of CapitaLand Investment, this partnership is a crucial step in the company’s digital transformation journey. AI will play a crucial role in shaping the future of CapitaLand, bringing operational efficiencies and creating value for stakeholders.
In addition to the partnership with Microsoft, Capitaland Investment (CLI) has also signed an MOU with the Singapore Business Federation (SBF) to establish a framework for digitalization and integration of AI across CLI’s retail ecosystem. This collaboration aims to drive the adoption of AI, data analytics, and cybersecurity solutions among retail tenants to enhance business efficiency and competitiveness. It will also focus on developing AI-focused skills and competencies among retail partners.
Overall, these partnerships highlight CapitaLand’s commitment to embracing advanced technologies to drive digitalization and enhance its business operations. In related news, CapitaLand Investment has recently acquired three properties in Singapore and Thailand and expects a significant decline in its profit after tax and minority interests (Patmi), but its cash flow is expected to remain stable. The last remaining penthouse in CapitaLand’s One Pearl Bank development has also been sold, with the development achieving a 100% sale. As CapitaLand continues to expand and innovate, these partnerships will play a crucial role in its growth and success.