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Singapore’s commitment to advancing artificial intelligence (AI) development has taken a significant stride forward. The country recently announced investing approximately £740m (S$1.2bn) into this sector over the coming five years. Deputy Prime Minister Lawrence Wong revealed this substantial investment on Friday, February 16, 2024. He aimed to bolster Singapore’s standing as a premier global business and innovation center.

Furthermore, in 2023, the establishment of Silicon Box, a $2bn semiconductor manufacturing foundry in Singapore, marked a pivotal moment. Situated in Tampines, the chip factory is poised to generate over 1,000 employment opportunities. This will be supported by the Singapore Economic Development Board. What’s more, this endeavor highlights Singapore’s ambition to expand its manufacturing sector by 50% by the year 2030. It will enhance its allure as a prime location for AI development amidst the backdrop of escalating geopolitical concerns surrounding semiconductor supply chains.

Moreover, to emphasize the criticality of securing access to advanced chips for AI advancement and deployment, Wong stressed the necessity of such resources. Notably, Singapore was among the pioneers who revealed an AI plan in 2019. Besides, in December 2023, it revealed an updated iteration of the strategy, delineating pathways to harness AI for economic empowerment.

Additionally, the city-state has been proactive in AI governance. This is evident from the introduction of AI Verify in May 2022—the world’s premier AI governance testing framework and software toolkit for companies. Giants like Google, Meta, and Microsoft have already subjected the AI Verify tool to careful testing and have provided valuable feedback. They presented a collaborative effort toward fostering responsible use of AI.

In conclusion, Singapore’s strategic investments and robust governance framework position it as a frontrunner in the global AI landscape. As it continues to develop innovation and nurture partnerships, Singapore stands to shape the future of AI.

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