SINGAPORE (Xinhua): Singapore businesses are adopting artificial intelligence (AI) with significantly greater confidence and speed than their global peers, positioning the city-state as a strong contender for regional AI hub status, according to PwC's Global AI performance study released on Monday.
The study found that 67 per cent of Singapore businesses have a higher risk appetite for AI investment, compared with just 41 per cent globally, while 63 per cent of Singapore respondents allocate people and funding based on AI opportunities, above the global average of 51 per cent.
Meanwhile, about 43 per cent said they are using AI to compete beyond their own sectors, more than double the global average of 20 per cent. In addition, 30 per cent reported having eliminated outdated information technology (IT) infrastructure, compared with 18 per cent globally.
Conducted between July and September 2025, the survey polled more than 1,200 senior executives at large corporations worldwide, including 30 respondents from Singapore.
The local sample was dominated by banking and capital markets, as well as technology hardware and software firms.
While globally 37 per cent of firms primarily use AI for analysis, prediction, and recommendation, only 20 per cent of Singapore respondents do so.
Instead, 17 per cent of Singapore companies are already using AI in more autonomous and self-optimising applications, more than double the global rate of eight percent.
However, PwC noted that despite strong momentum, Singapore still trails global "AI leaders" in several key execution areas.
In governance and risk management, 53 per cent of Singapore firms reported having robust, up-to-date cybersecurity protections for AI systems, compared with 69 per cent among top-performing global peers.
Gaps were also observed in areas including data readiness and operational integration.
The findings come as Singapore accelerates its national AI push.
In 2025, Singapore's Infocomm Media Development Authority and AI Verify Foundation advanced efforts to operationalise trust in generative AI through initiatives such as the Global AI Assurance Pilot.
More recently, Budget 2026 announced plans for a National AI Council and sector-specific AI missions in advanced manufacturing, connectivity, finance, and healthcare, alongside regulatory sandboxes and enhanced tax incentives. -- Xinhua
