The unprecedented COVID19 pandemic drove many companies to innovate in order for business to survive and thrive. Essentially, companies were forced to undergo digital transformation so that business can maintain operations and capacity, sustain competitiveness and improve resiliency. This meant that the integration of key technological innovations along with the introduction of 'AI powered' intelligent systems have become the essential ingredients to achieve business efficiency, effectiveness, adaptability and success.

According to the Policy Department for Economic, Scientific and Quality of Life Policies of the European Union in 2020, the integration of Artificial Intelligence (AI) increases efficiency and productivity of businesses as it also plays a significant role in transforming a company into a customer centric and innovative institution. Furthermore, with the global restrictions in place and remote-work setup encouraged, hyper-digitalization across industries can be observed. With this, various innovative solutions have rapidly sprung up. Technology contributes to such a collaborative network of processes which propels people to keep pace with the overwhelming flow of data and information. That being said, the demand for AI remains prominent.

As the COVID19 pandemic continues to attest that the increasing use of information technology in different sectors is here to stay and we can also anticipate that more innovation in products and services will ensue. Growth, efficiencies, and productivity within economies are seen to dramatically increase through the rise of these new technologies.

With the theme "Powering the Next Wave of Innovation through AI", the AI+ Innovation Summit will highlight the critical role of emerging technologies and innovation, especially AI, as we face today's societal pressing issues head on. Moreover, this virtual forum will feature how businesses are able to adopt global AI initiatives and best practices to continue thriving in a hyper-digitalized world