Singapore Ranks 3rd in Global AI Index, behind US and China
Singapore has secured an impressive 3rd position in the Global AI Index, closely trailing behind the United States and China. As per a study conducted by Tortoise media. The most recent evaluation of artificial intelligence capabilities in over 60 countries examines various aspects and evaluates over 111 different indicators. These metrics encompass a broad spectrum of factors, such as research and development, talent, infrastructure, operating environment, government strategy, and commercial ecosystem.
At the Brainstorm AI Singapore 2024 event hosted by Forbes, Ms Serena Cesareo, Senior Researcher of Tortoise Media presented the findings and also highlighted Singapore's exceptional AI talent retention rate compared to other countries in Asia.
Singapore's success in AI stems from its early adoption of a national strategy, with initial governance principles established even before the formal launch in 2019. The country's latest AI strategy, unveiled in 2023, takes a comprehensive approach, addressing critical areas such as infrastructure, data usage, talent development, and governance. "We thought about governance before we actually launched the strategy," explained Josephine Teo, Minister for Digital Development and Information of Singapore, highlighting Singapore's foresight in balancing innovation with responsible AI use.
A key factor in Singapore's AI ecosystem is its collaborative approach. The country has fostered strong partnerships between academics, government agencies, businesses, and informal institutions. This collaborative environment has allowed Singapore to strike a balance between regulation and innovation, implementing guidelines and norms without stifling creativity.
Despite its small size and population, Singapore has strategically positioned itself as a nexus of global activity, by leveraging its world-class infrastructure and economic strengths. "We've sort of positioned Singapore in the flow," Minister Teo stated, referring to the country's strength as an aviation hub, maritime center, and in the financial services. She emphasised that this positioning now extends to data flows, creating a unique ecosystem rich in technological expertise and data resources.
Regional collaboration is another pillar of Singapore's AI strategy. Minister Teo highlighted ongoing efforts with ASEAN countries to facilitate cross-border data flows and adhere to international standards, positioning Singapore as a hub for AI development in Southeast Asia.
Despite having around 17 data centers, the highest concentration for its size globally, Singapore faces unique constraints including limited land, expensive energy, lack of renewable resources, and a hot climate. Minister Teo highlighted that Singapore's data center capacity relative to its GDP far exceeds that of larger economies like Japan and China. While acknowledging the need to accommodate growth driven by AI and increasing internet demand, she emphasised the importance of balancing expansion with sustainability commitments.
Minister Teo outlined two key strategies. The first involves the implementation of new Tropical Data Center standards, which are tailored to Singapore's warm climate. These standards challenge the traditional notion of operating data centers at very low temperatures, suggesting that even a slight increase in operating temperature could be feasible and more energy-efficient. The second strategy focuses on promoting greener designs for data centers by enhancing the energy efficiency of operations and increasing the use of renewable energy sources to power these facilities. By pursuing those two paths, she says Singapore will have more flexibility in terms of how quickly technology evolves and how quickly Singapore requires technology to evolve.
Perhaps most intriguingly, Minister Teo challenged the notion of data as "the new oil." Instead, she emphasised viewing data as a reusable and recombinant asset. "Data can be reused many times over and can be recombined," she explained, underlining the importance of data sharing and reuse in maximising its value.