Company: OTSA
Filing Date: 2025-06-09
Form Type: F-1
Source: 0001213900-25-052720
Chunk: 203

Company: OTSAW Ltd
Filing Date: 2025-06-09
Form: F-1
Chunk 203
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 artificial intelligence augmented decision making, (iii) operations management, and (iv) stakeholder interaction and communication, with an aim to translate ethical principles into practical recommendations that organizations may readily adopt to deploy artificial intelligence responsibly. In light of recent advances in generative artificial intelligence, the AI Verify Foundation and Infocomm Media Development Authority of Singapore have also developed a draft Model AI Governance Framework for Generative AI (the “2024 Framework”), which seeks to expand on the 2020 Framework by addressing new issues that have emerged from generative artificial intelligence and providing guidance on suggested practices for safety evaluation of generative artificial intelligence models. Regulations on Data Protection and Information Security While the Personal Data Protection Act 2012 of Singapore (“PDPA”) does not single out artificial intelligence, it lays out a data protection framework on the collection, use and disclosure of personal data by organizations in Singapore to safeguard personal data, buttress public trust in the digital economy and spark data innovation. The PDPA is administered and enforced by the regulator, the Personal Data Protection Commission. It sets out data protection obligations which all organizations are required to comply with in undertaking activities relating to the collection, use or disclosure of personal data. A failure to comply with any of the above may subject (i) an organization to a fine of up to 10% of an organization’s annual turnover in Singapore or S$1 million (approximately US$756,773), whichever is higher, or (ii) an individual to a fine of up to S$200,000 (approximately US$143,419). A facilities management operator and/or an artificial intelligence technology company is required to comply with the PDPA, which generally requires organizations to give notice, obtain consent and inform individuals of the applicable purposes prior to collection, use or disclosure of personal data (being data, whether true or not, about an individual who can be identified from that data or from that data and other information to which organizations have or are likely to have access), and to provide individuals with the right to access and correct any error or omission in their personal data. Organizations are also required to put in place sufficient measures to protect the personal data in its possession or control from unauthorized access, loss or damage. On March1, 2024, the Personal Data Protection Commission issued the Advisory Guidelines on the Use of Personal Data in AI Recommendation and Decision Systems, which provides specific guidance on how the PDPA applies in three typical stages of artificial intelligence system implementation. Pursuant to the Personal Data Protection Commission’s Advisory Guidelines on the PDPA for