More than 90% CapitaLand shareholders approve Ascott REIT merger
CapitaLand Group has recently signed a memorandum of understanding (MoU) with Microsoft to integrate artificial intelligence (AI) and advanced technologies into its business operations. As part of the deal, CapitaLand will also be joining Microsoft Singapore’s AI Pinnacle Program, which gives companies access to Microsoft’s platforms, services, and solutions for enhanced customer engagement and operational efficiency across all of CapitaLand’s businesses, including funds, investments, retail, lodging, and development.
One key area of collaboration between the two companies will be infrastructure development, with a focus on leveraging Microsoft’s Azure cloud computing platform to develop CapitaLand Investment’s data center designs and products. Additionally, CapitaLand will also work with Microsoft to integrate AI, data analytics and machine learning into its digital and business transformation efforts.
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Quah Ley Hoon, Group Chief Corporate Officer of CapitaLand Investment, shared that this partnership with Microsoft is a significant step in the company’s digital transformation journey. She believes that AI will play a pivotal role in shaping CapitaLand’s future, driving operational efficiencies, and creating value for its stakeholders.
In addition to the partnership with Microsoft, CapitaLand Investment has also signed an MoU with the Singapore Business Federation (SBF) to collaborate on digitalization and AI integration within its retail ecosystem. This includes initiatives such as facilitating the adoption and proof of concept for AI, data analytics, and cybersecurity solutions, as well as developing AI-focused competency and skills among its retail tenants.
These collaborations highlight CapitaLand’s commitment towards digital transformation and its efforts to stay ahead of the curve in the ever-evolving business landscape. With these partnerships, CapitaLand aims to enhance its competitiveness, improve business efficiency, and ultimately create value for its stakeholders.