Aboitiz Group launched start-up to capitalise on huge potential of data science and AI in shared value creation
For over a century, the Aboitiz Group has achieved great strides through innovation that places equal importance on improving products and services and delivering long-term benefits for stakeholders. This same motivation for creating shared value is behind the company’s decision to break into the data science and artificial intelligence (DSAI) space with the launch of its new subsidiary, Aboitiz Data Innovation or ADI.
By design, ADI will consolidate the DSAI operating model across the Group and promote a data-driven culture across the organization. Its chief responsibility is to transform data into business outcomes, exploit information to make better decisions, reinvent business models, and develop high-value solutions to create new processes, products, and services.
“Aboitiz Data Innovation represents a natural progression for us that is consistent with how Aboitiz has adopted new approaches and expertise over the years,” explained Sabin M. Aboitiz, Aboitiz Group President and Chief Executive Officer. “Embracing data science and AI opens us to new and bigger opportunities to accelerate productivity, drive business value, and generate new revenue streams. At the same time, it is a crucial step in preparing our team members for the future of work by equipping them with the knowledge and skills needed to be highly valued contributors to the fourth industrial revolution.”
In 2021, Aboitiz introduced data science, AI, and machine learning courses to its group wide learning and development curriculum with the goal of helping its people across all its strategic business units (SBUs) gain better understanding of how DSAI can move them closer to achieving set goals.
“Aboitiz Data Innovation’s (ADI) key focus is to create competitive advantages for Aboitiz Group’s various business units through the adoption and application of data science and AI (DSAI) solutions,” said Dr. David R. Hardoon, ADI Managing Director. “The team is uniquely placed as we have access to and are already building solutions across the various industries that the group operates in, such as banking and financial services, manufacturing, power generation and distribution among others. Having this multi-industry experience enables ADI to operationalise DSAI and develop solutions for business problems as well as explore innovative ideas for tackling future challenges.”
Through the support of Singapore’s Economic Development Board (EDB), ADI will also deepen the Group’s footprint in Southeast Asia by leveraging the diverse network of multinational businesses and organizations located in what is widely considered as the center of innovation in Asia.
“The Aboitiz Group’s decision to site ADI in Singapore is testament to our position as a hub for innovation in Asia, and deepens our talent and innovation linkages with the Philippines,” said Mr. Dino Tan, Vice President and Head (Family Businesses), EDB. “ADI will create opportunities for our local talent and research ecosystem to collaborate with Aboitiz in developing innovative solutions that will contribute to the growth of their businesses in the Philippines and across Southeast Asia.”
“By being located in Singapore, we also hope to tap on the local ecosystem and talent, seek out prospective partners, and become a major asset in the data science community,” Dr. Hardoon added.
The next phase in ADI’s development is to serve as a single contracting entity for DSAI collaborations with local and Singapore-based counterparts and, over the long-term, handle external DSAI products and services. For now, the company will take the lead in building the Group’s capacity in DSAI through demonstration, awareness, enablement, and ecosystem partnership. Aboitiz is optimistic that data science solutions will empower communities towards achieving optimal business outcomes that will drive change for a better world.