Singapore ranks 2nd globally in AI readiness: KPMG

The government will invest $1b for AI deployment.

Singapore ranked 2nd globally in AI readiness, according to a KPMG report which highlights AI in medical technology.

It will allocate more than $1b (US$ 741m) into AI development over the next five years to fuel the AI talent pool.

The National Research Fund (NRF) also set up the Health Technologies Consortium which aims to help companies translate research outcomes into products and services, with a focus on health analytics and AI. NRF has set aside $1.5m (US$1.1 million) funding for this.

Additionally, MedTech Catapult national $38m (US$28m) initiative hosted by A*STAR aims to accelerate the development of MedTech products in Singapore.

Moreover, in terms of AI cybersecurity readiness, the country has a Cybersecurity Labelling Scheme for Medical Devices. It encourages manufacturers to adopt security-by-design practices.

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KPMG

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