Exploring the Artificial Intelligence scene in Singapore
what
- Potential market expansion opportunities and collaborations with Singapore government agencies and enterprises.
- Potential collaborations on AI innovation and solutions with Singapore stakeholders and market expansion opportunities.
how
- In 2023, the Singapore government announced the National AI Strategy 2.0 with over S$1 billion in investments across five years to develop the AI sector via growing the talent pool, securing advanced chips, and infrastructure development. Building on this momentum, the Singapore Budget 2025 added S$3 billion to the National Productivity Fund for AI and technology adoption, and S$150 million for the Enterprise Compute Initiative providing enterprises access to AI tools, computing power, and consultancy services with major cloud providers present in the market (e.g., AWS, Microsoft Azure, Google Cloud).
- AI talent has grown significantly in Singapore, by 565% between 2016 and 2022, and there are various initiatives and programs to attract and grow AI capabilities, such as the S$7 million AI Accelerated Master's Programme and partnerships creating 100 AI Centres of Excellence with industry partners.
- Based on a study by IMDA, the Singapore AI market is expected to grow from a US$960 million market in 2022 to a US$16 billion market by 2030, with average AI investment size by venture capitalists increasing from approximately US$4 million in 2019 to approximately US$16 million in 2023 according to data by OECD.
- Sweden has a vibrant startup scene and is also one of the forerunners of AI globally. There is strong potential for Swedish AI solution providers to leverage Singapore's increased investments and enterprise demand to collaborate with Singapore stakeholders on opportunities within manufacturing, financial services, healthcare, AI research, governance, and other sectors.
- Business Sweden is organizing a business delegation to Singapore in May 2026, timed with ATxSG - Asia's flagship technology conference bringing together 25,000+ global leaders. Participating companies will gain access to curated meetings with Singapore government agencies, major industry players, and potential partners. The delegation includes providing a deep understanding of Singapore's AI landscape, tailored business introductions, and participation in ATxSG 2026.
CONTACT US
For more information contact Eric Tan at eric.tan@business-sweden.se