The latest IT Priorities Research by digital infrastructure company Colt Technology Services has highlighted Singapore's leadership in AI investment, with 27% of businesses allocating over S$1.28 million (approximately US$1 million) annually to AI initiatives, surpassing their counterparts in the UK (18%) and the US (14%).
AI-Driven innovation and cybersecurity
Surveying over 1,200 IT leaders at businesses with annual revenues of at least US$100 million across 13 countries, the research found that organisations globally are prioritising AI-driven innovation and product development (34%), generative AI for content creation (33%), cybersecurity (32%), customer experience (31%) and process optimisation (31%).
In Singapore, 37% of businesses prioritise AI as a top priority, alongside security and resilience (37%).
The Singapore government has already invested S$500 million to secure high-performance computing resources essential for AI innovation. It also allocated over S$20 million to nurture AI talent in the country, aiming to triple the country's AI workforce over the next five years.
"Singapore's rapid AI growth is more than just a theory now. Especially with the upcoming Johor-Singapore Special Economic Zone (JS-SEZ) that is set to become a hub for AI, cloud computing, and data infrastructure, private sector investments in building facilities with scalable network capacities is critical," says Shirley Heng, country manager of Colt Technology Services Singapore.
"There will definitely be a stronger need for high bandwidth network infrastructure that's not just fast but agile and ready to evolve. Opportunities like the JS-SEZ are still unfolding, but they signal where the region is headed; it's something many in the industry are keeping an eye on," Heng added.
