Artificial Intelligence

Budget 2024 unveiled a further $3 billion investment under the Research, Innovation and Enterprise 2025 Plan that was launched in 2020. The Plan invests in areas of national priority such as advanced manufacturing, sustainability, healthcare and digital economy.

At least $1 billion will also be invested over the next five years to develop Artificial Intelligence (AI) compute infrastructure, talent and industry development under the National AI Strategy 2.0 launched last year. This investment aims to attract AI talent and develop capabilities within the community. This will strengthen Singapore’s competitive advantage to be a global AI hub by raising the quality of our AI creators and practitioners, accelerate AI innovation and significantly increase high-performance compute and build capabilities.

Since last year, innovation sandboxes have been established to enable businesses to build production-ready generative AI solutions and develop evaluation benchmarks for trusted generative AI (GenAI).

Announced in early February 2024, SMEs are able to receive a grant from IMDA to trial one of the GenAI solutions curated with industry and technical experts from Institutes of Higher Learning in use cases involving customer engagement, marketing and sales. The abovementioned investments exemplify Singapore’s proactive approach towards embracing emerging technologies to achieve sustainable progress and build up the competitiveness of our enterprises and people.