The Business Times
business-time-50
SGSME logo
COMMENTARY
·
SUBSCRIBERS

Where are the SMEs in Singapore’s AI story?

Many are keen to integrate artificial intelligence into their operations, but face obstacles

google-preferred-sourceAdd BT as a preferred source
    • Just 4 per cent of Singapore’s SMEs have used AI or machine learning, even though 95 per cent have adopted digital tools.
    • Just 4 per cent of Singapore’s SMEs have used AI or machine learning, even though 95 per cent have adopted digital tools. ILLUSTRATION: PIXABAY

    Sujith Abraham

    Published Thu, Aug 22, 2024 · 05:00 AM

    MANY businesses are eager to bring artificial intelligence (AI) into their operations to drive productivity, raise margins and build higher-value customer relationships. Yet the overwhelming hype around AI can intimidate organisations, leading to paralysis.

    Some hesitate to take action on generative AI, for instance, due to the perceived complexity and uncertainty around the technology. Others struggle to identify use cases where it can provide tangible value. Without a clear purpose or goal, many find it difficult to justify hefty investments.

    Even in companies that have started investing in AI, employees can be sceptical of the benefits.

    Artificial IntelligenceSingapore SMEs

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    PayPal has struggled despite its storied history as a financial-technology company.

    PayPal plans job cuts as its new CEO pursues turnaround strategy

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More