Chinese artificial intelligence (AI) firm SenseTime is downsizing its Singapore office, reflecting the challenges it is encountering in the rapidly evolving AI landscape. This move also highlights the shifting dynamics of Singapore's prestigious office market.
Changes in Office Space
SenseTime has chosen to relinquish its approximately 11,000 square foot (1,022 square metre) office space in Frasers Tower. Instead, the company is opting for a location in a less central building. Individuals familiar with the matter disclosed this information but preferred to remain anonymous due to the confidential nature of the decision.
The downsizing of the office space is seen as a strategic move by SenseTime to streamline its operations in Singapore amid the changing landscape of the AI industry. The company has been facing challenges in the market, leading to a reevaluation of its office space needs.
Impact on Market Perception
The decision by SenseTime to downsize its office space has raised questions about the overall sentiment towards AI firms in Singapore. It has also sparked discussions about the sustainability of the current office market trend, especially in the context of evolving technology companies.
