How competitive is Singapore in the AI race?
Learn more about what the latest Intel-sponsored AI study shows

At a glance:

  • Singapore is currently an AI Leader, the only economy among the eight surveyed in the IDC Asia/Pacific AI Maturity Study at this stage. Singapore scores above the Asia/Pacific average for the enterprise, government, and socio-economic dimensions, and its overall AI spending is forecast to grow at 25.3% CAGR from 2023, reaching $4.2 billion by 2027.

  • Deep dive into the results of IDC Asia/Pacific AI Maturity Study and explore where Singapore and the region stand in their AI journey.



Executive Summary

If 2023 was a year of “artificial intelligence (AI) awakening” due to the rise of ChatGPT, 2024 is a year when organizations start building a more pragmatic view of how they can incorporate AI long term. In Asia/Pacific, predictive, interpretive, and generative AI (GenAI) use cases will become more expansive and external-facing as organizations recognize their benefits – from improving internal processes and productivity, to delivering personalized customer experience (CX) and enhancing market differentiation.

Despite the great interest and surge in AI usage, IDC’s study of eight Asia/Pacific economies (Australia, India, Indonesia, Japan, Korea, Malaysia, Singapore, and Taiwan) shows that they are in the mid-stages of overall AI maturity.

According to the IDC Asia/Pacific AI Maturity Study 2024, the level of AI maturity in each market depends on several factors across three dimensions:

  • Enterprise (strategy, process, human capital, technology and data readiness)
  • Government (policy, regulatory and investment support)
  • Socio-economic (economic, social, and skills)

AI maturity requires all three dimensions in varying degrees and at different stages of development:

  • Investments in enterprise data and technology create options and build experience and executive confidence in the value of future investments.
  • Supportive government policies and regulations remove uncertainties and clarify the rules by which enterprises should engage with data and AI technologies.
  • Scaling up AI is often constrained by skills and the readiness of local employees to adopt these new technologies.

This IDC InfoBrief, sponsored by Intel, dives deeper into the findings of the IDC Asia/Pacific AI Maturity Study 2024 and explores the current AI landscape, the state of AI and its challenges, and AI spending forecasts and future potential in this region – providing guidance and recommendations for the markets studied to move up the AI maturity ladder.