AI has swept across business and society, sending the stock prices of Wall Street tech companies soaring. Singapore has been maintaining a leading position in the field of AI, with the National AI Strategy 20 is expected to play a key role in global competition.
Industry experts believe that Singapore, as an Asia-Pacific technology hub, will welcome more companies to join the data and AI competition. Analysts point out that the core keyword of global AI in 2024 will be governance, and Singapore will lead the trend.
According to a report by Bloomberg Intelligence Unit, the market size of generative AI is expected to grow from $40 billion in 2022 to $1$3 trillion, with a compound annual growth rate of 42%.
Singapore not only occupies an important position in the global AI competition, but also has a high expectation of leadership in governance. The rapid development of AI is driving technological and business innovation.
The adoption and adoption of AI in Singapore is far greater than in most countries, not only at the corporate level, but also in terms of popular acceptance.
According to a report by Salesforce, in 2023, Singapore ranked first among 12 APAC countries for AI readiness at the ** and enterprise level, surpassing major markets such as Japan, China, and Australia.
Singaporean consumers also have a higher level of trust and acceptance of AI than many mainstream countries, demonstrating their positive attitude towards technology.
The mobile app data is a visual proof of Singapore's leading position in AI applications. Data., the world's first AI-powered aggregate data companyData provided by AI shows that in the third quarter of 2023 alone, the total number of global AI applications** reached 2400 million, of which Singapore contributed 7660,000 times. In Singapore's mobile app**, there is 16% are AI applications, which ranks 10th in the world.
Singaporean companies have shown a strong willingness to leverage AI technology for change. According to a report published by MIT Technology Review Insights in conjunction with Databricks, Singapore is one of the fastest countries in the world for enterprise adoption of generative AI.
Embedding data and AI into products and services is becoming one of the keys to the core competitiveness of enterprises. Ayers, vice president of field engineering for Databricks Asia Pacific and Japan, said: "At this point, Singapore is leading the way. ”
Startups in Singapore are taking full advantage of the market opportunities presented by generative AI. data.According to data provided by AI, in the first 11 months of 2023, Chatai, the world's most highest-volume AI application, was developed by Singapore-based company Seamobi, ranking 15th with 12 million ** times.
In Singapore, this sector has "disruptive" potential and is rich in opportunities for participation. Many of the big companies are based in Singapore, and they're already doing great things with apps like gaming and shopping. Ayres expects these internet companies to develop specific AI applications or embed generative AI technology in existing applications.
2024 will see the biggest changes in the field of governance. "2023 is the year to try to adopt generative AI, and 2024 is going to be the year of governance. As some regulations, policies, and processes begin to be implemented, companies and organizations will need to struggle to manage their data and AI projects to ensure compliance. ”
This suggests that governance will be a key focus in AI development, and that the implementation of regulations and policies will help ensure that the negative impacts of AI technology are minimized, while encouraging businesses to use the technology more responsibly.