Singapore should make targeted ‘big bets’ to stretch S$1 billion AI investment, say analysts
This could be done by identifying high-growth projects and companies, and then increasing investments there strategically
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[SINGAPORE] Singapore’s latest S$1 billion investment in artificial intelligence (AI) research and development (R&D) may seem small by global standards, but analysts believe that strategic “big bets” will allow the Republic to reap the benefits in the long term.
“The raw size of the investment should not be the only focal point,” Lyon Poh, partner and head of corporate transformation at KPMG in Singapore, told The Business Times.
While the S$1 billion pales in comparison to the International Data Corporation’s 2028 projection of US$175 billion in AI investment in the Asia-Pacific, its strategic deployment could position the nation for long-term competitiveness and growth, he added.
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