Commentary: Singapore’s next big technology bet cannot wait till we’ve figured out AI

Our semiconductor industry, biomedical sciences sector and fintech ecosystem did not emerge overnight. Each was built through long-term investments made before commercial outcomes were certain. 

Take semiconductors. In 1968, National Semiconductor established Singapore’s first semiconductor manufacturing facility, at a time when Singapore was still building its industrial base. The following year, Texas Instruments opened its first plant here. 

The early focus was on building manufacturing capabilities, infrastructure and a skilled workforce, rather than waiting for a fully developed local semiconductor ecosystem to appear first. Now, the country has an ecosystem spanning much of the semiconductor value chain, and continues to attract new investments as demand grows for chips.

The same approach is needed today.

New technologies could eventually address problems beyond the reach of even the most powerful classical computers – or create new problems. Some implications already require action today and preparation cannot wait for the technology to mature.