James Wilson, partner, Technology Consulting, Advisory, at KPMG in Singapore, lauds the move. He says: "Most organisations face challenges when it comes to deploying new technologies and SMEs suffer from that more than anyone. Encouraging the use of technology enablers, and enhancing and expanding existing grant programmes will help SMEs implement AI solutions without incurring significant capital expenditure."
Singapore will allocate up to $150 million for a new Enterprise Compute Initiative, enabling eligible businesses to collaborate with major cloud providers for AI tools and computing power, Prime Minister Lawrence Wong announced in Budget 2025. Those enterprises will also be able to access consultancy services under the initiative.
This initiative complements existing efforts to encourage tech adoption for digital transformation. "All enterprises must invest in technology to enhance their competitiveness and productivity. We will continue to encourage the adoption of off-the-shelf solutions like AI-powered analytics and digital marketing tools [among our enterprises] through initiatives like the Productivity Solutions Grant and the SMEs Go Digital programme," says Wong.
