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Business Times
05-08-2025
- Business
- Business Times
SG60: Running Singapore on innovation – brains, bytes and billion-dollar growth engines
AS AT mid-2025, Singapore secured more than 40 AI centres of excellence, attracting both digital-native and industrial firms to research and develop various forms of artificial intelligence (AI) solutions here, including those related to proprietary generative AI (GenAI). GenAI is a type of AI that can create new content – such as text, images, audio and video – based on the data it has been trained on. Last year, Singapore also launched three new accelerators that nurtured more than 50 promising locally based ventures. This is attributable to Digital Industry Singapore, a joint office formed in 2019 by the Singapore Economic Development Board (EDB), Enterprise Singapore (EnterpriseSG) and Infocomm Media Development Authority. The government has been working with industry players to set up sectoral-based centres of excellence to look at use cases that can be applied widely and build domain-specific capabilities in key economic sectors. For instance, the Sectoral AI Centre of Excellence for Manufacturing, which was launched in September 2024, supports industry partners and companies in the adoption of GenAI and machine learning in areas such as quality assurance and predictive maintenance. This is to enhance the manufacturing value chain. AI is just one aspect of Singapore's economic evolution. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up EDB chairman Png Cheong Boon said EDB will continue to attract investments that are knowledge and innovation-intensive, aligned with the Republic's transition to a low-carbon economy, and that have high growth potential. 'We are targeting high-value investments that create good jobs requiring deep capabilities and that entail regional or global responsibilities; and where companies have a strong focus on the training and development of employees,' he noted. These would include manufacturing and services projects in sectors such as aerospace, semiconductors, biopharmaceuticals, medical technology and specialty chemicals, besides new growth areas such as precision medicine, AI and sustainable products and services. With sustainability being a priority, global companies see it as a plus that Singapore partners them in their low-carbon transition, added Png. These range from adopting renewable energy to increasing energy efficiencies in existing processes. Today, there are more than 150 carbon services and trading firms – double the number from 2021. Besides renewable energy services and the bio-economy, an area that Singapore is actively looking at is low-carbon technologies. The Republic is home to the world's largest sustainable aviation fuel production facility by capacity, operated by Neste, and is developing a cross-border carbon capture and storage hub led by ExxonMobil and Shell to support domestic decarbonisation. Singapore is home to the world's largest sustainable aviation fuel production facility by capacity, operated by Neste. PHOTO: NESTE Brains behind the economy's transformation A walk through history will find that EDB has been a catalyst for Singapore's competitiveness for decades. It cultivated labour-intensive industries such as manufacturing in the 1960s to address high unemployment and jump-start the economy, before shifting in the 1970s to skills-intensive industries such as precision engineering and electronics. In the 1980s, EDB turned towards capital-intensive and higher-technology industries including computers, machinery and pharmaceuticals. For example, the Republic welcomed its first semiconductor wafer fabrication plant and the first petrochemical complex in Asia at this time. By the 1990s, Singapore was on its way to becoming a knowledge-based economy as EDB laid the groundwork for the transition through innovation, research and development (R&D), and technopreneurship. Along with manufacturing, EDB invested in services as a second growth engine, and developed the biomedical sciences, aerospace and modern services sectors, so that workers had the relevant skills and experience. The transformation signalled the reimagining of the traditional petrochemicals sector and a move to develop infrastructure such as Jurong Island and industrial estates, to support heavy shipping and manufacturing industries. A key theme that can be found across different industries is the push to innovate and conduct R&D. In the past five years, Singapore has invested about S$28 billion or 1 per cent of its gross domestic product annually to strengthen its research ecosystem and encourage more companies to deepen their innovation footprint here. Png explained that EDB's role goes far beyond just helping businesses set up here. It guides companies through their entire growth journey in the region – from facilitating collaborations with local companies and suppliers in Singapore to connecting them with the right partners to explore regional expansion. 'As the firms achieve critical mass, EDB encourages them to deepen their presence by establishing regional headquarters and centres of excellence, so that high-value activities are embedded in Singapore, in turn creating higher-value jobs,' he added. Indeed, the Ministry of Manpower's (MOM) labour market second-quarter report released in September 2024 showed that about 20 per cent of firms here are foreign-owned, yet they employ 60 per cent of Singapore residents in high-earning jobs. MOM said foreign-owned firms employ an outsized share of those who earn a gross monthly income of above S$12,500 and fall into the top 10 per cent of income distribution. Strengthening Singapore's core The foresight in the early years meant that Singapore's manufacturing and services sectors had time to become sophisticated, supported by excellent infrastructure, a skilled workforce and a conducive business climate. It is how and why the city-state now accounts for 10 per cent of global chips output and roughly 20 per cent of global semiconductor equipment output. In the healthcare space, eight out of the top 10 pharmaceutical companies conduct manufacturing or R&D here. EDB is now responsible for more than 35 per cent of Singapore's annual GDP in the manufacturing and tradeable services sectors. Manufacturing alone makes up nearly one-fifth of the country's GDP. Under Singapore's Manufacturing 2030 plan, the sector's value-add is to be raised by 50 per cent from 2020 to 2030. The goal is to ensure a diverse range of manufacturing activities and attract companies with specialised capabilities that will allow the country to remain an essential part of global value chains. Singapore has five best-in-class advanced manufacturing facilities that are part of the World Economic Forum's Global Lighthouse Network, including those by Coca-Cola and Infineon Technologies. In aerospace, major players such as Rolls-Royce and Pratt & Whitney have deepened their operations here. Singapore is now a leading aerospace hub in the Asia-Pacific region with more than 130 aerospace companies that contribute to 10 per cent of global maintenance, repair and overhaul output. Efforts to turn the Republic into a hub for the region have also paid off. Earlier this year, Amazon Web Services (AWS) and German specialty chemicals firm Munzing opened their Asia-Pacific headquarters in Singapore with plans to grow the software engineering team and invest in local R&D, respectively. In May, the Republic took the fourth spot out of 118 countries in the 2025 Global Startup Ecosystem Index by research platform StartupBlink, behind Israel, Britain and the US. 'We want to attract activities that ensure we remain a critical part of global value chains which play to Singapore's strengths, that would be hard for others to replicate and would continue to be relevant to the global economy in future. 'Riding on fast-growing sectors and those with high growth potential enables Singapore to plug into global economic growth and the growth potential of the immediate region,' said Png, who added that EDB is also encouraging experienced founders to scale their next ventures from Singapore, through the Global Founder Programme. To stay ahead, EDB is cognisant that the local workforce must also be able to keep up with the needs of businesses. Besides the national programme that funds upskilling, EDB has also rolled out various targeted training programmes to help workers. In 2024, EDB partnered Oracle to upskill up to 10,000 local workers and tertiary students in GenAI by 2027. There is also AWS' flagship AI programme, AWS AI Spring, where it will collaborate with universities, polytechnics and the Institute of Technical Education on AI learning. The aim is to train 5,000 individuals over three years, from 2024 to 2026. EDB, Oracle, AWS and Databricks have also rolled out digital training schemes in areas such as cybersecurity, cloud computing and data management. EDB, Oracle, AWS and Databricks (above) have rolled out digital training schemes in areas such as cybersecurity, cloud computing and data management. PHOTO: REUTERS In addition, EDB invests in leadership development – through programmes such as the Global Business Leaders Programme and Singapore Leaders Network – to better support Singaporeans to take on leadership roles in key companies. Building a resilient and connected ecosystem In today's volatile and fragmented world, it is important to ensure that the Republic's supply chain ecosystem and regional connectivity deliver unmatched value to global businesses. Therefore, initiatives such as the Johor-Singapore Special Economic Zone can not only help strengthen ties with neighbouring economies, but also complement the city-state's extensive global network of 28 free trade agreements. These efforts will go a long way in ensuring the Republic's supply chain resilience and seamless regional integration, so that Singapore is an indispensable hub for multinational corporations (MNCs) navigating geopolitical uncertainties. Beyond that, EDB is also committed to reinforcing Singapore's supportive business ecosystem. For instance, it works with JTC to provide the right infrastructure to companies. To spur greater collaboration between MNCs and local enterprises, EDB and EnterpriseSG have the Partnerships for Capability Transformation scheme that provides funding support for capability training, internationalisation, corporate venturing, supplier development and co-innovation. 'These are win-win partnerships that strengthen supply chain resilience for global businesses while helping our local companies build new capabilities,' said Png. He added that, over time, this would make businesses here more competitive and improve Singapore's economy.
Straits Times
26-06-2025
- Business
- Straits Times
Up to 300 S'pore firms stand to get cloud credits, grants to spur AI trials under new programme
(From left) Digital Industry Singapore assistant vice-president Mabel Seah, AWS Singapore country manager Priscilla Chong, Global Sales Asia Pacific & Japan VP Jaime Valles, Senior Minister of State Low Yen Ling, Digital Industry Singapore senior vice-president Philbert Gomez and Singapore country manager for Public Sector Elsie Tan at the launch of the new AWS Innovation Hub. PHOTO: AWS Up to 300 S'pore firms stand to get cloud credits, grants to spur AI trials under new programme SINGAPORE – As many as 300 local firms will each receive up to $600,000 in benefits under a new programme by Amazon's cloud arm to promote the adoption of artificial intelligence (AI) solutions. Called AI Springboard, the initiative by Amazon Web Services (AWS) will provide a baseline of $350,000 in dedicated cloud credits and training resources, with the remaining value made up of additional cloud credits from existing AWS programmes. These credits allow firms to trial and potentially adopt cloud tools. The funding is in addition to a government grant of up to $105,000 per enterprise for consultancy services supported by Digital Industry Singapore (DISG) – the government arm driving the programme, which is the second to take wing under the $150 million Enterprise Compute Initiative (ECI) announced in the 2025 Budget. The ECI supports firms by pairing them with major cloud providers to access AI tools, computing power and expert consultancy. To tap AI Springboard, companies must be registered or incorporated in Singapore and meet ECI eligibility criteria, such as having experience developing a custom AI solution for a proof-of-concept. The programme was announced on June 26 at the launch of AWS's new 8,000 sq ft Innovation Hub in Shenton Way – its first such facility globally – where enterprises can explore AI tools and work with AWS experts to develop and deploy AI solutions. Among the tools on showcase include a mini bike manufacturing line by AWS that demonstrates how companies can use AI and sensors to solve common production issues, and an AI-powered tool by ST Engineering that helps detect deepfakes, false information and harmful online content. AWS declined to disclose the cost of the hub, but noted that it is a ' multimillion-dollar ' investment on top of its previously announced US$9 billion (S$11.5 billion) commitment to Singapore's cloud infrastructure by 2028. It also said that it plans to engage more than 1,000 C-suite leaders and business decision-makers at the hub, offer 200 tertiary students an exclusive AI learning experience and support the training of 2,000 professionals in high-demand jobs like AI and cloud computing every year. Speaking at the launch ceremony for AI Springboard and the new Innovation Hub, Senior Minister of State for Trade and Industry Low Yen Ling said the Government is aiming to accelerate the development and deployment of AI across Singapore's economy. 'Through the (AI Springboard) programme, we aim to support participating companies in developing future-ready AI solutions that will transform their businesses,' she said. 'Multiple cohorts of the AI Springboard Programme will be onboarded this year, and I encourage companies to seize this opportunity to partner with AWS and DISG on their AI journey.' According to AWS, the $600,000 cloud credits and training support may be disbursed either in tranches or as a lump sum, depending on the scope and scale of each company's project. The Government's grant of up to $105,000 will be awarded once the company and AWS successfully develop and pilot at least one minimum viable product for the firm's AI use case. AWS Singapore country manager Priscilla Chong said AI Springboard brings together the firm's cloud and AI tools, technical expertise and training support to help local enterprises turn their ideas into real-world applications. She added that the decision to base its first Innovation Hub in Singapore reflects the company's confidence in the Republic as a key centre for innovation and technological experimentation. 'From one highly connected city-state, we can reach more than three billion people across Asia-Pacific and Japan, tap a deep pool of world-class tech talent, work with a government that consistently backs digital growth, and enable customers across industries to move faster with the confidence that Singapore's ecosystem provides,' she said. Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
13-06-2025
- Business
- Business Times
Google Cloud and Digital Industry Singapore launch programme to spearhead AI development among companies
[SINGAPORE] Digitally-mature companies keen on doing more in the area of artificial intelligence (AI) will now have the opportunity to tap a new programme. The AI Cloud Take-Off Programme launched on Friday (Jun 13) is a joint venture between Google Cloud and Digital Industry Singapore (DISG). It aims to establish AI centres of excellence in 300 digitally-mature, Singapore-based companies over the next 12 months, said a Google Cloud spokesperson. DISG is a joint office between the Economic Development Board, Enterprise Singapore and Infocomm Media Development Authority. The selected companies stand to receive up to S$500,000 in financial incentives, the spokesperson added. This programme supersedes the AI Trailblazer programme run by Google Cloud and other government agencies such as Ministry of Digital Development and Information, DISG and Smart Nation Group. The spokesperson said: 'The market is now at a different stage of AI maturity, one where most organisations we engage with have already tried and adopted at least one enterprise AI solution.' BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up For a company to be considered digitally-mature, it needs to: Be able to commit at least three technical staff to a six-month programme, including a two-week AI capacity building bootcamp, hosted by Google Cloud experts; Have formal support from an executive sponsor, for example a senior management representative from the company, who will take part in the six-month programme; Have at least one AI use case ready to be worked on. On top of the S$500,000 in financial incentives, companies picked to go on the programme will get a chance to work with a DISG-appointed, Google Cloud-certified technical consultancy and implementation partner of their choice to establish their AI centre of excellence. Google Cloud partners appointed by DISG for this programme include Accenture, AsiaPac, CloudMile, Deloitte, Kendryl, NTT Data and Searce, said Google Cloud in a statement. 'This will empower (companies) to create AI-driven intellectual property, products and services that boost their competitiveness and unlock new revenue opportunities,' said its spokesperson. Firms are required to achieve a few milestones to qualify for the S$500,000 in financial incentives. A government grant will cover 70 per cent, capped at S$105,000, of the cost of the company's use of professional services and cloud services during the programme. It will be unlocked only when the company successfully develops and pilots at least one minimum viable product to address its AI use case. Another S$200,000 worth of licences and credits for Google Cloud Skills Boost for Organisations will be disbursed to facilitate employee training and change management. The last S$195,000 in Google Cloud credits will be disbursed if and when the company is ready to scale its minimum viable product and commit to doing so with Google Cloud's support. Additional Google Cloud credits may be awarded on a case-by-case basis. Point-of-sale management system firm Embed was one of the 30 companies selected by Google Cloud for the pilot programme that started in November 2024. Embed has a presence in 60 countries, including Singapore, where it works with arcade Timezone, and has a global reach of 97 million individual players. Using generative AI, the company developed an AI-supported kiosk that is able to provide customised game recommendations to players who are adding credits to their payment card. Andy Welsh, Embed's chief technology officer who responded to queries from The Business Times, said he expects the headcount of Embed in Singapore to go up by about half a dozen following the AI Cloud Take-Off project. Senior Minister of State for Trade and Industry Low Yen Ling said in her speech at the launch of the programme at Mapletree Business City in Pasir Panjang that Singapore strongly believes in the transformative impact of AI, and supports the widespread use and adoption of AI across sectors. 'AI can spur enterprise and workforce transformation. It enables firms to automate manual business processes and augment workers skills, raising productivity, driving innovation, and further growing business revenue,' she said. She described the AI Cloud Take-Off Programme as a powerful launchpad for companies on their AI innovation journey, from early experimentation to full-scale transformation. 'Companies with the drive to pursue AI innovation and eventually establish AI centres of excellence in Singapore can tap into Google's robust AI ecosystem to accelerate their journey,' she said.
Business Times
23-05-2025
- Business
- Business Times
Grab launches its first Centre of Excellence to support AI solutions
[SINGAPORE] Grab launched its first Artificial Intelligence (AI) Centre of Excellence on Friday (May 23). Supported by the Digital Industry Singapore, the centre will work on projects to utilise AI solutions to impact three key areas: accessibility, productivity and growth, and smart-nation capabilities across South-east Asia. The centre is also set to generate at least 50 new high-value roles by 2025. These will range across areas such as product engineering, data science and analytics. The launch of Grab's AI Centre of Excellence was attended by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, who said that the government aims to help companies develop capabilities to administer AI solutions at scale. 'By supporting companies like Grab to establish AI Centres of Excellence, we want to catalyse the development and deployment of AI-driven applications that can drive greater value for both people and businesses,' he said. Suthen Paradatheth, chief technology officer of Grab, said that the Centre's aim is not solely cost reduction – rather, its success will be measured by the impact and opportunities Grab creates in solving problems, and providing users and merchants the leverage to solve their issues as well. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up For instance, he noted that AI solutions can shorten the time needed for the completion of tasks from days to mere seconds, 'giving people time back to focus on things that are really important'. 'We look at it from the perspective of the customer; (the metrics of impact) can range from adoption to net promoter score – is the project something that adds value for the customer?' said Paradatheth. Ultimately, he said that the Centre's focus is on 'expanding the impact that is possible with large language models'. Applying AI solutions Some of the AI projects that Grab has worked on include a collaboration with the Singapore Association of the Visually Handicapped (SAVH) to develop a feature to allow users with visual impairments to book Grab rides through voice commands. Currently, this voice-assistant feature is accessible to members of SAVH. Such initiatives set 'a new benchmark for inclusivity in transport and digital services', said Lyn Loh, head of accessibility services in SAVH. The speech-to-text feature, which is built on OpenAI models, used around 80,000 local voice samples to boost its recognition accuracy of Singaporean accents to 89 per cent, from 46 per cent. In June, the app will house a voice-donation feature allowing users to contribute voice samples to help make the voice-assistant feature 'more intuitive and inclusive'. This will aid the AI model in better detecting building and road names. Grab has also engineered solutions such as the AI Driver Companion and the AI Merchant Assistant bot. The former aids Grab drivers throughout their day by recommending optimal areas to pick up customers, ensuring an efficient distribution of drivers islandwide. The latter, already rolled out to the majority of merchants in Singapore, provides tailored operational insights and advice to individual merchants.
