Singapore opts for pro-innovation governance of AI

Significance

To this end, the city-state wants to leverage its well-developed infrastructure, skilled talent pool and thriving technology ecosystem. Industry partners have welcomed the government’s collaborative stance on AI governance, and private sector spending on AI research and development is rising.

Impacts

• Singapore’s sovereign wealth funds GIC and Temasek will adopt a long-term view on investments in generative AI projects.
• South-east Asian countries will look to Singapore for tested AI technologies as well as for developing a pro-innovation regulatory approach.
• Vocal industry support for Singapore’s approach to AI regulation will give the city-state an influential voice in international settings.