Singapore Ranks 3rd in Global AI Index, behind China and US
Updated: Aug 2
Singapore ranks third on the Global AI Index, after the United States and China. Early adoption of a national AI policy, as well as collaborative collaborations, help Singapore achieve AI success. Singapore has carefully positioned itself as a global hub, exploiting its infrastructure and economic strengths.
Tortoise Media conducted a study evaluating artificial intelligence capabilities in over 60 nations, taking into account 111 factors spanning research, talent, infrastructure, government strategy, and commercial ecosystem.
At Forbes' Brainstorm AI Singapore 2024 event, Ms Serena Cesareo from Tortoise Media presented the data, applauding Singapore's remarkable AI talent retention rate in compared to other Asian countries.
Singapore's success in AI can be ascribed to its early adoption of a national policy, with governance principles developed prior to the official debut in 2019. The country's most recent AI strategy, implemented in 2023, addresses critical issues such as infrastructure, data utilisation, talent development, and governance. Singapore's Minister for Digital Development and Information, Josephine Teo, highlighted the country's forward-thinking strategy to balancing innovation and responsible AI use.
Singapore's collaborative culture is an important aspect of its AI ecosystem. Strong collaborations among universities, government agencies, enterprises, and informal institutions have allowed Singapore to harmonise regulation and innovation, establishing guidelines without suffocating originality.
Despite its small size, Singapore has intentionally positioned itself as a global hub, exploiting its superior infrastructure and economic strength. Minister Teo emphasised Singapore's strengths as an aviation, maritime, and financial services hub, which are now being extended to data flows, resulting in a unique ecosystem rich in technology skills and data resources.
Regional cooperation is crucial to Singapore's AI strategy. Minister Teo emphasised continuous collaborations with ASEAN countries to allow cross-border data flows and preserve international norms, establishing Singapore as a hub for AI development in Southeast Asia.
Singapore, although hosting about 17 data centres, confronts obstacles such as limited land, high energy costs, a lack of renewable resources, and a warm temperature. Minister Teo stated that Singapore's data centre capacity in relation to GDP is greater than that of major economies such as Japan and China. She emphasised the significance of long-term expansion while balancing AI-driven growth and rising internet demand.
Minister Teo discussed two critical strategies. First, Tropical Data Center standards appropriate to Singapore's warm environment are being implemented, challenging the traditional practice of operating data centres at extremely low temperatures. Second, promote greener data centre designs by improving energy efficiency and boosting the usage of renewable energy sources. These solutions strive to give flexibility in responding to changing technological needs.
Minister Teo questioned the concept of data as "the new oil," arguing that data should be viewed as a reusable and recombinant asset. She emphasised the importance of data sharing and reuse, as well as increasing data value through numerous uses.
Singapore secures 3rd position in the Global AI Index, trailing the US and China.
Early adoption of a national AI strategy and collaborative partnerships contribute to Singapore's AI success.
Singapore strategically positions itself as a global hub, leveraging its infrastructure and economic strengths.
Source: BIZ360