New research commissioned by IBM found that over half (52%) of IT decision-makers (ITDMs) in Singapore have made some progress in executing their AI strategy, and 37% indicated significant progress.
In 2024, more than half (54%) of ITDMs said they are currently achieving positive ROI from their AI projects, 33% are breaking even, and 9% are seeing negative returns.
AI pilots
The study revealed that innovation (29%) over return-on-investments (ROI) (24%) motivates ITDMs in Singapore to implement AI pilots. Meanwhile, productivity savings (63%), more rapid innovation (61%), and faster software development (58%) are their top factors in measuring ROI from AI achievements.
Data quality and availability (54%), integration with existing systems (46%), and skill gaps among employees (42%) are some challenges Singapore companies face in implementing AI pilot projects.
Hype is over
“We have seen enterprises in Singapore actively experimenting with AI, particularly in the wake of genAl’s rapid advancement. I believe the time for hype is now over. 2025 will be a crucial time when companies seek to understand how their investments are paying off. Our study highlights how enterprises would look to put more strategic focus on reaping higher AI returns. Talent, open-source models and hybrid-by-design are critical areas to unlock innovation in AI,” Tan Siew San, general manager and technology leader of IBM Singapore, said.
Morning Consult conducted the study, which was developed in collaboration with Lopez Research. It surveyed more than 2,400 IT decision-makers (ITDMs) globally, with 217 respondents from Singapore.
