COUNTRY FOCUS : SINGAPORE ology report ucial
important strategic technologies for organizations , alongside cybersecurity .
A total of 69 % of respondents say they are employing AI / ML as part of their business strategy and 62 % for IT strategy , while 68 % of respondents are allocating between 6 % and 10 % of their budget to AI / ML projects . This compares to a reported spend ( as a percentage of the overall budget ) of between 1 % and 10 % in last year ’ s survey .
AI / ML projects are accelerating
AI / ML are being used by Singapore organizations in an increasingly wide variety of contexts , including improving the speed and efficiency of processes ( 52 %), understanding marketing
AI / ML are being used by Singapore organizations in an increasingly wide variety of contexts .
effectiveness ( 45 %), increasing revenue , gaining competitive edge , and predicting performance ( 42 %), and personalizing content and understanding customers ( 41 %).
In an indication of the increasing maturity of the technologies , 67 % of respondents said their AI / ML projects have gone past the experimentation stage
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