Noppasinw - Fotolia
Singapore pledges S$150m to boost enterprise AI capabilities
The Enterprise Compute initiative will provide local enterprises with access to AI tools and expertise in a bid to spur AI adoption
The Singapore government has announced a S$150m (US$112m) Enterprise Compute initiative to empower enterprises with artificial intelligence (AI) tools and resources in its latest Budget.
Recognising the critical role technology plays in bolstering competitiveness, Singapore prime minister and finance minister Lawrence Wong highlighted the need for businesses to embrace AI services tailored to their specific requirements.
“Beyond a certain stage, enterprises will need AI solutions which are tailored to their needs and integrated into their business processes and systems,” he said.
The Enterprise Compute Initiative aims to bridge this gap by partnering eligible enterprises with leading cloud service providers. This collaboration will grant businesses access to AI tools, computing power and expert consultancy services.
The initiative has been welcomed by industry leaders, who believe it will significantly enhance Singapore’s digital landscape.
“The Enterprise Compute initiative stands out as a game-changer,” said Gayathri Peria, general manager for Southeast Asia at SUSE.
“The government’s investment in AI infrastructure is commendable, and pairing it with open-source AI’s rich ecosystem of tools and frameworks allows businesses to tailor solutions without the burden of proprietary software costs.”
Read more about AI in ASEAN
- Prudential is leveraging AI across its operations, from enhancing customer interactions and streamlining internal processes to empowering its workforce through upskilling initiatives.
- Southeast Asian super app Grab names AWS as its preferred cloud provider to optimise costs, enhance infrastructure and support its growing AI workloads.
- Manulife has been on a billion-dollar digital transformation journey over the past few years, leveraging the power of AI to streamline its operations and enhance customer experiences.
- Singapore logistics firm ST Logistics has teamed up with Lenovo to automate key processes within its facilities through a new warehouse execution system and AI-powered algorithms.
This sentiment was echoed by Brian Kealey, country leader at Salesforce Singapore, who commended the initiative’s role in unlocking the true potential of AI for local businesses.
“The S$150m fund under the Enterprise Compute initiative … will go a long way in helping Singaporean companies unlock true value from AI,” he said, adding that it complements ongoing efforts to boost effective technology adoption via industry partnerships.
Technology industry group SGTech noted that with cost and complexity being major barriers to AI adoption, especially for smaller enterprises, the initiative will help to level the playing field by providing access to powerful AI tools and computing resources that might otherwise be out of reach.
“By partnering with major cloud providers, businesses gain access to cutting-edge technology and expert guidance, increasing the likelihood of successful AI adoption,” it said. “In today’s fast-evolving digital landscape, AI is essential for driving efficiency, innovation and growth.”
