[ad_1]
Eklipse Advertising Supervisor Jessica Jocenia (left) and Founder Weihan Liew on the Google AI Join Summit
The Financial Influence Report 2024, commissioned by Google, highlights vital potential advantages from AI adoption in Singapore. Launched through the Google AI Join Summit, as a part of the current ATx Summit in Singapore, the report estimates that AI-powered merchandise and options may contribute S$198.3 billion (US$146 billion) to Singapore’s financial system by 2030, practically 30 per cent of the nation’s 2023 GDP.
This projection underscores the significance of efficient partnerships with personal sector leaders to maximise AI’s financial impression. The report additionally emphasises Singapore’s strategic positioning throughout the area to harness AI for financial progress, supported by governmental initiatives to nurture native AI expertise and promote adoption throughout key sectors.
One of many report’s essential findings is the potential to forestall S$18.5 billion (US$13.6 billion) in cybercrime losses by deploying AI-powered cybersecurity measures.
As AI evolves, so do cybercriminals’ ways. They more and more use AI to boost their assaults’ scale, velocity, and class. AI’s dual-edged nature necessitates parallel investments in sturdy cybersecurity infrastructure. Singapore goals to bolster its defences in opposition to cyber threats by leveraging AI and aligning its AI growth with complete cybersecurity methods.
Singapore is among the first nations to introduce a Nationwide AI Technique (NAIS) in 2019 and is investing S$1 billion (US$700 million) to assist AI growth.
Additionally Learn: Unleashing the ability of specialized AI startups within the period of generative AI
Complementing these AI initiatives are efforts to boost cybersecurity expertise and instruments. Recognising the rising risk of AI-enhanced cybercrime, the federal government is investing S$50 million (US$36 million) to strengthen its cybersecurity workforce. This funding goals to develop a extra sturdy digital ecosystem, equipping professionals with the talents wanted to fight subtle cyber threats.
Driving AI adoption in Singapore
The report additionally revealed that AI adoption in Singapore is pushed by sturdy public curiosity. Seventy-eight per cent of Singaporeans are eager to be taught extra in regards to the know-how, and greater than half are already utilizing Generative AI.
This widespread engagement displays a sturdy enthusiasm for AI applied sciences, although a big emphasis is on accountable AI growth. A survey by Ipsos revealed that 38 per cent of Singaporeans prioritise ‘accountable’ AI growth, the next share in comparison with different developed markets such because the UK (29 per cent) and the US (33 per cent).
Within the report, Google explains its position in selling AI adoption in Singapore via collaboration with the Singapore authorities. This partnership goals to facilitate broader entry to AI applied sciences. For instance, Google’s AI system, Gemini, is built-in into fashionable merchandise similar to Gmail, Docs, and Slides.
The financial impression of AI in Singapore is substantial. In 2023, Google stated that its AI-powered merchandise and options contributed S$14.7 billion to the financial system.
Additionally Learn: Unleashing the ability of specialized AI startups within the period of generative AI
This vital monetary profit underscores the potential of AI to drive financial progress and enhance effectivity throughout varied sectors in Singapore, highlighting the tangible benefits of integrating superior AI applied sciences into on a regular basis actions and enterprise operations, the report confused.
—
Picture Credit score: Google
The put up Google: AI merchandise, options to contribute US$146B to Singapore’s financial system by 2030 appeared first on e27.
[ad_2]
Source link
