Singapore must establish AI leadership to stay competitive in changing world: Gan Kim Yong

Establishing Singapore as a leader in artificial intelligence (AI) with an AI-powered economy is key to ensuring economic growth amid a complex global environment, said Deputy Prime Minister Gan Kim Yong.

Speaking at the Committee of Supply debates in Parliament on Monday (March 2), DPM Gan, who is also the Minister for Trade and Industry, said that harnessing AI to empower local companies is one of five key strategic thrusts suggested by the Economic Strategy Review. 

"AI and automation are transforming how value is created, and how work is organised," he said, pointing out that major structural forces are reshaping industries, businesses and jobs.

Later this year, the Ministry of Trade and Industry (MTI) will be launching a Champions of AI programme to support a select group of Singapore-based companies with the "ambition and commitment to make AI a core driver of productivity, innovation and revenue growth".

Through the programme, MTI will partner with the companies to transform their businesses by embedding AI across core operations, organisational processes, and workforce practices.

AI transformation within these companies will include leadership and workforce training, where employees will also be retrained so that they can take on higher-value AI-enabled job roles.

DBS Bank is one such example of a local company that has strengthened their workforce while deploying AI, said DPM Gan, adding that other firms can learn from DBS' experiences to map their own AI transformation.

In the bank, some employees are being re-skilled into new jobs created through the integration of AI, such as from customer service officers to AI agent monitoring managers and Gen AI evaluators.

MTI will also drive AI transformation at the sector level through AI Missions, starting with four priority sectors — advanced manufacturing, connectivity, finance and healthcare.

Dr Tan See Leng, Minister-in-charge of Energy and Science & Technology, said that the advanced manufacturing mission will have three thrusts, including leveraging AI and robotics, harnessing AI to create first-in-world solutions, and driving broad-based sectoral transformation.

There will also be an AI Park established at One-North called Kampong AI, DPM Gan said, which will serve as "a focal point where talent, problem owners, researchers and resources can come together to create synergy and nurture a deep ecosystem".

DPM Gan said: "Even as we grow our economy, our competitiveness will depend not only on innovation, but also on the ability of our businesses to adapt, reposition and transform."

@asiaone Speaking at the Ministry of Trade and Industry's Committee of Supply debate on Monday (March 2), DPM Gan Kim Yong set out how the Government will empower businesses to harness artificial intelligence (AI) as Singapore charts its path to become an AI leader in the development, testing, deployment and scaling of AI. #sgnews #Singapore #Parliament #Businesses #Company #ArtificialIntelligence ♬ original sound - AsiaOne

[[nid:729864]]

For more on Budget 2026, visit our microsite.

dana.leong@asiaone.com