Singapore is leading in investments concerning artificial intelligence, with 27% of businesses allocating over S$1.28 million (US$1 million) annually to AI initiatives.
According to Colt Technology Services' latest IT Priorities Research, Singapore stands out for the scale and depth of its AI investments in the region, showing the city-state's strategic intent, backed by national initiatives such as the S$1 billion National AI Strategy 2.0 (NAIS 2.0), as well as a strong ecosystem of public-private collaboration.Â
The report, which polled over 1,200 IT leaders at businesses with annual revenues of at least US$100 million across 13 countries, reveals that Singapore mirrors how the global market prioritise on AI-driven innovation and product development, with a particularly strong emphasis on cybersecurity and operational task automation, driven by both government policy and enterprise ambition.
Further, the research finds that 37% of Singaporean businesses have AI as a top priority, citing security and resilience on top of the list amid the nation's emphasis on ensuring digital resilience amid leveraging AI for economic growth.Â
Colt Technology Services says Singapore's advanced digital infrastructure plays a pivotal role in solidifying business confidence in AI spend, as the conducive environment for AI innovation has attracted global tech companies.
