New council must bridge security, trust gaps to anchor new AI missions

Two in five firms express data loss via generative AI as a top concern.

Artificial intelligence (AI) adoption without trust, governance, and security safeguards risks undermining the economic gains Singapore aims to unlock through a new National AI Council, industry experts said.

In his Budget 2026 speech, Prime Minister Lawrence Wong announced that he will chair a new council overseeing plans to launch a set of AI missions across advanced manufacturing, connectivity, finance and healthcare.

Whilst the Prime Minister’s leadership of the council reflects the government’s ambition to make AI central to the economy, adoption alone cannot be the goal, said Kunal Jha, Regional Director for Asia at Netskope.

“Instilling excellent AI governance standards is an essential component of driving responsible adoption because bad governance can negate the benefits of AI,” Jha said.

Security risks must also be addressed alongside expansion, according to George Lee, Senior Vice President for Asia Pacific & Japan at Proofpoint. He cited that 40% of organisations identify data loss via generative AI tools as a top concern, with threat actors increasingly using AI themselves.

“As AI integration expands, the ‘human element’ remains the primary target for advanced attacks. This demands a proactive, adaptive, and crucially, a human-centric security strategy,” Lee added.

Meanwhile, Raen Lim, APJ Managing Director at Qualtrics, noted effective adoption will depend on public confidence, citing that whilst 68% of consumers believe AI will have a positive societal impact, only 40% trust organisations to use it responsibly.

“If Singapore wants to be a ‘trusted AI hub’, the next step is to treat trust like national infrastructure, which requires measurable governance,” Lim said. “With AI Verify and Project Moonshot underway, the opportunity is to turn Singapore’s trust framework into a regional benchmark.”

Samir Bedi, EY ASEAN People Consulting Leader, said the council strengthens efforts to link AI transformation with skills upgrading and higher-value jobs. “Transformation of companies is at the centre of creating right employment, and the Champions of AI programme enables transformation.”

“With the Prime Minister chairing the National AI Council, its importance is even further heightened,” Bedi added.

Kelvin Cen, Head of Southeast Asia at Bloomberg L.P., added that the new body and related AI investment measures are forward-looking initiatives that also reinforce Singapore’s position as a global financial centre.

“AI centres of excellence and capital market hubs will become increasingly entwined, and these measures are strategic investments in that future,” he said.