That was a clear message following the recent visit of Deputy Prime Minister Hen Swee Keat to SAP’s Berlin office, marking the 60.th Anniversary of the bond between Singapore and Germany.
Between Official visitthe delegation took part in a tour of the SAP Experience Center where Heng experienced cutting edge AI innovation before various discussions and insights sessions with business AI and public sector experts.
Singapore is already at the forefront of digital transformation thanks to strong government initiatives. And the investment continues.
As Hen pointed out at the Welt Economic Summit,
“In Singapore, it spends around 1% of its GDP on research and innovation, violating SGD28 billion between 2021 and 25. We invest in four key areas: advanced manufacturing, human health and potential, digitalization including AI and quantum computing, sustainability and urban solutions. We are a small city state, but if we succeed, our solutions could be exported to thousands of cities around the world. ”
This is important Challenges of Debolisation, digitization, demographics, and decarbonization Heng points out the face of Singapore.
But there’s an exciting solution at hand. I believe I’m focusing sea It’s the key to turbo charging our future. Let me explain.
Future skills
Singapore and Southeast Asia are young and vibrant markets. We are more blessed than 200 million people Create a digital native generation between the ages of 15 and 34.
Our country and our business need them. The skills required for work in Southeast Asia are expected to change by 72% by 2030 With the introduction of new AI innovations.
During my visit I was excited Listen to the progressive and practical approach that Singapore is moving forward to speeding up AI adoption across the economy.
SAP is committed to developing AI talent.
Over the past five years, we have worked closely with the Singapore government under the Skills-Future programme to expand over 1,000 intermediate career experts to teach practical and practical digital skills.
SAP was also invested in and released 8 Free AI Foundation Courses We plan to introduce accreditation courses on business AI later this year. It is available at SAP Lab in Singapore We have hired over 140 AI engineers who are actively contributing to the realization of SAP’s product and technology strategy.
Together with the government, we can elevate the generation of Southeast Asians and maximize the enormous opportunities digital and AI hold.
Economic growth through innovation
These opportunities are important not only for business, but for our nation.
Generated AI is expected to be added Up to 4.4 trillion US$ While in Singapore, I went to the global economy. It is estimated The adoption of AI-powered products and solutions could result in economic benefits of US$147.6 billion.
Today, we are beginning to see practical steps to implementing AI in real-world scenarios past the hype of AI.
As InfoComm media development agents have pointed out, “In 2023, 44% of large companies implemented AI-enabled solutions, more than double the 16.7% in 2018. Small and medium-sized enterprises also improved their recruitment rate, increasing from 3.5% in 2018 to 4.2% in 2023. ”
Even the government is benefiting from this innovation. for example, The Hamburg Treasury is using generated AI to reduce manual processing of profits up to 33,000 hours a year. NATO procurement agents use AI to identify suppliers and generate contracts in up to 20% of the time. And the Serbian Ministry of Finance is Use AI to make budget forecasts and reduce budget forecasts by 50 million euros.
Investing in AI for Singapore – and the future of Southeast Asia
workES like SAP have a great responsibility to strengthen research, develop talent and prepare the industry for the overall adoption of AI solutions.
From a technology perspective, it’s ready. We have seen over 130 new AI features that were launched independently last year, and we have over 34,000 customers currently using AI.
You also need to make sure that your AI usage is safe and ethical. There are only six SAP companies. Meet the whole world all Standards for Ethical AI Global indicators Benchmark Alliance.
But we also understand that we must invest in Singapore and our wider region.
Since 2019, SAP has 300 million S$300 million in the development of Singapore’s business AI and other deep technologies. Southeast Asia’s first SAP lab 2022 and the first in Asia Innovation Centre for Experience Management (XM) 2023.
After a long timePermanent partnership with the recently peaked Economic Development Committee Investment of S $12 million Among them, Singapore Innovation Accelerators in the digital industry in Singapore are driving the adoption of business AI in Singapore’s industry-specific scenarios.
The ocean is the key to accelerating to innovate throughout Southeast Asia
As Deputy Prime Minister Heng correctly pointed out, Singapore and Southeast Asia have incredible strengths; “Building on these strengths, new competitiveness emerges by building new capabilities in digital and green technologies. ”
To achieve such opportunities, we believe we must focus on skills, economic growth, artificial intelligence or the national and organizational levels in the ocean.
Through greater collaboration and investment in Singapore and beyond, public sectors and businesses like SAP will not only benefit AI but also strengthen the acceleration of Singapore and Southeast Asia to innovate in the future. You can achieve joint missions.
