American Express has opened a research and development hub dedicated to decision science in Singapore.
The hub, called the American Express Singapore Decision Science Centre of Excellence, will work with artificial intelligence, machine learning and natural language processing (AI, ML and NLP) technologies to develop data science applications in credit and fraud risk modeling.
Over time, American Express plans to expand its focus to include research leading to the development of other AI, ML and NLP technology use cases to support the company’s growth.
Changbin Wang, the new research and development hub’s managing director, commented: “Setting up a global innovation centre in Singapore reflects our commitment to continue investing in this country, and we are confident the country’s exceptional and diverse talent will help fuel American Express’ next wave of innovation to better service our global Card Member base.”
Philbert Gomez, vice president and head of Digital Industry Singapore, welcomed American Express’s decision to locate the new centre in the jurisdiction, as it will potentially create “opportunities for talent to apply cutting-edge research methods to solve global-scale and complex issues faced by the industry”.