The Blue Sky Thinking Behind yuu Singapore

Delivering impact through AI

The idea for yuu goes back to 2018, when Temasek was considering how foundational technologies like AI, Blockchain, Cybersecurity and Digital Services ​could transform its portfolio ​businesses.​

As the potential for data to fuel AI became clearer, Temasek's Deputy CEO Chia Song Hwee issued a team-wide challenge: create projects that could facilitate data collaboration between partners and create new revenue opportunities for all.

Ren Yeong, who had developed a love for statistics and game theory while studying economics at the London School of Economics, jumped right in. The career leap he had made in 2012 - from the military and then a hedge fund into Temasek's Portfolio Management team as an Associate Director - had also ​forced an understanding of how to "break open" a sector for a closer look at what worked and what didn't.

He began exploring options for how data collaborations could be facilitated, with shared benefits. Replacing "siloed and broken" loyalty points systems with a unified, smart, and secure alternative seemed a promising place to start.

While it began as a side project, the potential of AI soon ignited a consuming interest, and by 2020, Ren Yeong was intrigued enough to move to Temasek's nascent and multidisciplinary "AI Pod" as a Director. He became Managing Director a year-and-a-half later.

"AI was still really at the fringe then - developments like ChatGPT, which would push AI into public consciousness, would only happen much later. But I was curious about the business impact AI could deliver, and was drawn to the idea of creating next-generation companies."

He ended up doing just that when he agreed to double-hat as minden.ai's CEO in April 2022, working with its team to bring yuu Singapore, its flagship product, to life six months later.

"We had a tight timeline, a small team, and a big challenge. It was a period of high tension, not least because technology prefers phased roll-outs to 'big bang' launches," he laughs.

In a tight symphony, contracts were locked in, marketing mechanics were put into place, and comedic contractor Phua Chua Kang was brought on board to deliver the campaign's "earworm-worthy" sonic loop of "I want nobody, nobody but yuu!".

Closer to the launch, "secret" town halls were held to excite outlet staff, who proudly donned yuu's signature blue t-shirts, and filmed their own versions of the "yuu dance" - the steps of which became a social media phenomenon in their own right.

"There was a lot of unity behind yuu Singapore when it launched. And zero glitches on the technical side," Ren Yeong remembers.

Today, yuu has some 1.7 million members, can be used across over 1,000 outlets in Singapore, and has brought on new partners that include Gojek, foodpanda and Great Eastern. The team now hopes to bring in even more brands, and is assessing the potential of scaling regionally.

"It's still a work in progress. The world of AI and machine learning is changing so fast that we meet almost every week to discuss how we can experiment further and explore new business models that could bring value to consumers and businesses."

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