Josephine Teo, Singapore's Minister for Digital Development and Information, said the country wants to turn its land and manpower constraints into reasons to embrace AI rather than fear it. She spoke on Wednesday at the Family Business Summit in Hong Kong, co-organised by the South China Morning Post and Blue Pool Capital.
Teo argued that pragmatism would give resource-scarce Singapore an edge without making it overly reliant on any single power or AI provider. She acknowledged that the technology carries the risk of job losses and cyberthreats in the wrong hands.
What a 'broken rung' could mean for young workers
- Teo warned that AI is advancing faster than societies can adapt, potentially leaving younger workers facing a "broken rung" on the career ladder.
- She noted businesses shifting spending on wages to AI technology, which bears directly on how many opportunities young workers find when they start out.
- Singapore's stated approach is to adopt AI pragmatically while avoiding dependence on one AI provider, rather than holding back on the technology.