Singapore has upped its stake in artificial intelligence (AI) with the unveiling of a National AI Strategy.At SFF X SWITCH (Singapore FinTech Festival and Singapore Week of Innovation and TeCHnology) Conference, Singapore’s Deputy Prime Minister and Minister for Finance, Heng Swee Keat, announced that Singapore will embark on a plan to develop and use AI to transform Singapore’s economy and improve the lives of citizens.
Key to the country’s Smart Nation initiative, the strategy aims to use AI to generate economic value and improve lives and make Singapore a global hub for developing, test-bedding, deploying, and scaling AI solutions, as well as govern and manage the impact of AI. It will help society understand the benefits, limitations and risks of AI and the workforce to be equipped with the necessary competencies to thrive in an AI-driven economy.
Adopting a a human-centric approach, it will focus on delivering tangible benefits to citizens and businesses through AI.
Five National AI Projects have been identified as part of the rollout of the strategy. The projects cover transport and logistics, smart cities and estates, healthcare, education, and safety and security.
The government will accelerate the deployment and commercialisation of AI solutions and build on existing AI R&D capabilities and a S$500 million investment to further AI research, innovation and enterprise under the Research, Innovation and Enterprise 2020 Plan.