SINGAPORE BOOSTS AI AMBITIONS WITH $740M INVESTMENT PLAN

Over the next five years, Singapore plans to inject more than 1 billion Singapore dollars equivalent to approximately 743 million) to enhance AI capabilities

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Singapore will pump more than 1 billion SinS gapore dollars (about $743 million) over the next five years to further boost AI capabilities, said Deputy Prime Minister Lawrence Wong in his Budget speech on Friday.

The SG$1 billion allocation towards AI which also includes secure implementation of the National AI Strategy 2.0 demonstrates the government's commitment towards fostering a trusted and responsible AI ecosystem," said Sujith Abraham, senior vice president and general manager of ASEAN at Salesforce.

SINGAPORE Singapore's plan to invest more than $743 million into artificial intelligence over the next five years could strengthen its position as a global business and innovation hub, tech executives said.

In his Budget speech on Friday, Deputy Prime Minister Lawrence Wong said Singapore will invest more than 1 billion Singapore dollars over the next five years to further boost the country's AI capabilities.