DBS boosts SME AI adoption with enhanced Spark GenAI, 50% cost support

Firms can gain access to 16,000 solution providers via IMDA’s platform.

DBS is expanding support for small and medium-sized enterprises (SMEs) to accelerate artificial intelligence (AI) adoption through its enhanced Spark GenAI programme.

Participating firms will receive advisory and training support tailored to their level of AI readiness, including complimentary workshops by the Infocomm Media Development Authority (IMDA).

They will also gain access to a network of over 16,000 AI solution providers through the authority’s Open Innovation Platform.

Companies can tap IMDA’s pre-approved list of AI-enabled solutions, with eligible SMEs receiving grant support of up to 50% of qualifying costs from Enterprise Singapore.

DBS has also introduced an “Implementing AI for Impact” playbook to guide businesses on adopting AI, alongside financing solutions, including cyber protection coverage, to support implementation.

The enhanced programme was announced on 24 April in partnership with EnterpriseSG and the IMDA.

Separately, the bank is investing $10m to help Singaporeans manage cost pressures.

From August to December, it will offer more than three million cashback redemptions for purchases made via DBS/POSB cards and the DBS PayLah! app at hawker centres, heartland shops and supermarkets.

Details on redemption mechanics will be announced in July.