Singapore is doubling down on AI with $742M in investments over the next five years

Singapore is doubling down on AI with a S$1B investment over the next five years, unveiled by Lawrence Wong, the city-state's deputy prime minister and finance minister, during his 2024 budget speech.

• Talent Boost: The initiative aims to grow Singapore's AI talent pool, nurturing local expertise while also attracting global leaders in the field.

• Access to Chips: Recognizing the importance of hardware, Singapore is striving to secure access to essential chips crucial for AI tasks.

• Partnerships for Progress: Collaboration is key. Singapore plans to join forces with leading companies to establish AI centers, fostering innovation and propelling the industry forward.

• Broadband Upgrade: Singapore is not just stopping at AI investments; it's also revving up its broadband network speeds. The goal? A lightning-fast 10 gigabits per second by 2030, a tenfold increase from current speeds.

• Building on Success: This investment builds upon Singapore's revamped National AI Strategy, introduced in December 2023, which focuses on nurturing local talent and attracting international expertise.

• Cultural Connection: Singapore is spearheading Southeast Asia's first large language model, tailored to the region's diverse languages and cultures. The S$70M project involves key players like the Infocomm Media Development Authority and AI Singapore.

While Singapore's ambitions are high, some experts suggest a more targeted approach, perhaps concentrating on specialized models catering specifically to Southeast Asia's linguistic nuances, rather than competing head-on with broader AI models like GPT-4.