Hanoi (VNA) – A report released on June 24 by Singapore's Economic Strategy Review (ESR) committees said the island city-state eyes becoming a global hub for artificial intelligence (AI) rather than competing to build the world's largest AI models or data centres.
According to the report, AI will transform the economy much as electricity and the Internet did, and Singapore's strength lies in its ability to bring together government agencies, businesses and research institutes to create an environment conducive to innovation.
The report recommended making Singapore a preferred location for high-impact AI solutions by supplying access to critical resources such as datasets, computing power and regulatory sandboxes, while strengthening AI governance and safety capabilities.
It also proposed supporting leading Singapore-based companies to become "Champions of AI" through large-scale AI transformation programmes, enabling them to serve as models for their respective industries.
To broaden AI adoption, the report called for greater support for small and medium-sized enterprises, which often face cost and capability constraints.
The Singaporean Government has already established the National AI Council, focusing on AI missions in advanced manufacturing, finance, healthcare and logistics./.
