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Temasek creates new groups to explore artificial intelligence, blockchain technology, economic news and major stories

Temasek, Singapore's investment company, is creating new groups to explore opportunities in artificial intelligence (AI) and blockchain technologies.

Temasek is creating so-called "experimental pods" to focus on these two areas, which sees long-term trends affecting multiple industries and geographic areas, according to an internal memo obtained from Bloomberg.

Chia Song Hwee, chief operating officer of the key management arm Temasek International, will oversee the new groups.

The strategy was announced along with other organizational changes that came into effect on October 1st. A Temasek spokesman, who manages $ 308 billion, confirmed the contents.

Temasek participated in a $ 600 million ($ 824 million) C Series funding round in April for China's SenseTime group, now the world's most precious artificial intelligence startup.

Temasek helped lead a series A in June for Eigen Technologies, based in London, which automates the extraction of unstructured data.

In blockchain, Temasek has invested in R3, supported by a group of banks trying to bring the technology of the ledger distributed to their operations.

ADAPTATION TO CHANGE OF LANDSCAPE

As the investment landscape becomes more competitive and complex, we are witnessing more situations where we will benefit from the broader collaboration and specialized capabilities of our traditional approach to the industry and the market team.

& # 39; & # 39; TEMASEK, IN A MEMO

"In recent years we have expanded our business coverage and geographic footprint," Temasek spokesman said in an e-mail response to Bloomberg's requests.

"With the evolution of our operating environment, we focus on staying agile and well positioned to seize opportunities that offer sustainable long-term value."

Temasek is also creating a new unit of Strategic Initiatives, seeking greater agility for opportunistic affairs that require rapid review and senior-level assessment, according to the note. The unit, which can draw resources from other parts of Temasek, will be led by Tan Chong Lee, who heads Europe, the Middle East and Africa, as well as Southeast Asia.

"As the investment landscape becomes more competitive and complex, we are seeing more situations where we will benefit from the broader collaboration and specialized capabilities of our traditional sectoral approach and market teams," Temasek wrote in the memo.

Mr. Chia will work with Mr. Lee Theng Kiat, Temasek International vice president and CEO, and deputy general manager Dilhan Pillay as the company's collective leader, according to the statement.

Temasek claimed to have identified the Americas, China, Europe, the Middle East and Africa, India and Southeast Asia as "investment markets" where they are actively doing business and allocating capital.

The company sees Japan, Korea, Singapore, Australia and New Zealand as "markets of involvement" in which it will mainly focus on the creation of institutional networks, as illustrated in the note.

BLOOMBERG

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