S’pore to ensure gains from AI roll-out are shared: PM Wong

Singapore has managed gross domestic product growth of 5% for three consecutive years in part because it has major firms here such as GlobalFoundries and Micron that make specialty chips that are in demand owing to the AI boom, but also because it has built an eco-system for semiconductors, said the Prime Minister.

“It’s not just that the AI boom has benefited the semiconductor industry and the related industries. We have also seen positive spillovers into other industries like logistics and professional services,” he added.

However, no boom is forever, he warned. The Republic’s approach has been to capitalise on this window of opportunity to build new capabilities, and to create better jobs for Singaporeans.

Asked about regulations for AI, PM Wong said he sees two aspects to AI safety.

The first has to do with the risks posed by a loss of control of more powerful, autonomous AI systems, and of rogue actors using these capabilities to do terrible damage at large scale, whether through bioterrorism, cyber attacks or by creating weapons of mass destruction.

He welcomed the United States’ move to appoint a task force to oversee this space, but added that the rules and standards for frontier AI development have to be international, perhaps under the auspices of the United Nations.

The second aspect is in the application of AI, and the requirements there will vary from sector to sector, said PM Wong.

He cited how Singapore is testing autonomous cars to understand the safety requirements. These vehicles will eventually be rolled out here, but this will be done with regulatory oversight to make sure they are safe, and progressively so that the impact on existing drivers is also managed.

“So that’s our overall approach at the sectoral level: focusing on the application of AI, but making sure that we do so responsibly and safely, and that AI benefits a wide segment of the workforce,” he said.

PM Wong noted that countries everywhere are putting up more barriers to protect their own industries and jobs, and that the pendulum has swung away from free trade.

But Singapore is determined to remain open and to continue being a place where businesses can innovate, invest, and plan for the long term with confidence.

Even in a fragmented world, different regions still need to connect with one another, and Singapore hopes to be one of these connectors, he added.

The city-state’s strategy is to deepen and diversify its connections, which includes stepping up connections with existing partners and tapping opportunities with new regions like Latin America and Africa when it becomes ASEAN chair in 2027.

“We hope to be a light on the hill, shining brightly in a dark world,” he said.