Singapore businesses are seeing new value in artificial intelligence, as they continue to navigate the technological advancement.
According to a study by PwC, Singapore businesses are embracing AI with greater confidence than their global counterparts.
The research found that organisations in Singapore are re more willing to take risks when investing in AI compared to those in other countries. Sixty-three percent of those polled in Singapore revealed that they are able to make key decisions regarding financial and human resources on the basis of AI opportunities, higher than the 51% in other countries.
PwC’s study also shows that Singapore businesses significantly outperform the global average across several dimensions of AI adoption.
In particular, 43% of Singapore respondents reported using AI to compete with companies outside their own sectors, compared with 20% globally.
Furthermore, Singapore businesses are also investing in and piloting AI at above-average rates compared with global peers. Thirty percent of Singapore respondents said their organisations have eliminated outdated IT infrastructure, ahead of the 18% recorded among respondents globally.
