Singapore Sets Sights on Quantum Computing Future
At the recent IBM Think Singapore event, Minister for Digital Development and Information of Singapore, Josephine Teo outlined Singapore's ambitious plans to become a leading hub in quantum technology. The government has announced a significant investment of S$300 million over the next five years to strengthen the country's position in this emerging field.
Minister Teo emphasised the potential of quantum computing to revolutionise various sectors, stating, "Quantum computers, for example, could solve computing problems that are so massive that traditional computers can take too long to solve." She highlighted specific areas where quantum technology could make a significant impact, including financial risk analysis, drug discovery, and logistics optimisation.
Singapore's approach to quantum technology development focuses on three key areas: capabilities, infrastructure, and partnerships. The country has established the National Quantum Computing Hub to foster collaborations between researchers, industry experts, and end-users. Additionally, the government is investing in quantum-safe networks to protect against future quantum-enabled threats.
"We are studying ways to support organisations in migrating to quantum-safe technologies so that they are protected against quantum-enabled threats," Minister Teo explained. This proactive stance demonstrates Singapore's commitment to not only developing quantum capabilities but also addressing potential security risks associated with the technology.
The minister also highlighted the importance of international partnerships in advancing quantum science. Singapore is actively collaborating with global counterparts, including the United States, on critical and emerging technologies such as quantum science and post-quantum cryptography.
In parallel with its quantum computing initiatives, Singapore continues to advance its artificial intelligence capabilities. Minister Teo highlighted the country's refreshed national AI strategy, emphasising responsible and secure AI development. "Our foundational belief is that AI should be harnessed in a responsible and secure way that delivers real value to our people and businesses," she stated. The minister also announced an intent between IBM and the National University of Singapore to establish a new AI research and innovation center, further solidifying the country's commitment to staying at the forefront of emerging technologies. Hans Dekkers, General Manager of IBM Asia Pacific, noted that AI governance is one of the three big topics IBM is concentrating on, alongside hybrid cloud and automation. "How do you actually put AI to work and how do you do it in the correct and trusted way?" Dekkers posed, highlighting the ongoing importance of AI in the tech landscape.
Mohammed Ali, Senior Vice President of IBM Consulting, underscored the importance of AI in the enterprise, stating, "We think there are four key factors for success in AI: trust, flexibility, an open approach, and people first." aligning with Singapore's focus on responsible AI development. Han Kwee Juan, Group Executive and Country Head of DBS Singapore, provided insight into how the financial sector is already leveraging AI, noting, "We've got more than 800 models running, close to 350 use cases," demonstrating the practical implementation of AI in one of Singapore's leading banks.