Prime Minister Lawrence Wong outlined Singapore's strategy for managing artificial intelligence adoption at the Forbes Global CEO Conference in October. Unlike some countries that view unions as obstacles, Singapore treats them as partners in the AI rollout, with unions helping to administer government grants for company transformation and supporting workers through retraining when jobs are displaced.
PM Wong clarified that companies may still reduce their workforce due to automation, but must follow fair practices: use retrenchment as a last resort, provide advance notice, pay benefits, and inform unions so workers can access retraining support. Singapore has already benefited from the AI boom through demand for semiconductor chips made by firms like GlobalFoundries and Micron, with positive effects spreading to logistics and professional services. However, PM Wong warned that no boom lasts forever, so Singapore must build new capabilities and create better jobs during this window of opportunity.
Why it matters
- Workers in Singapore and Hong Kong should expect job changes as AI adoption accelerates across sectors.
- Families should plan for ongoing skill development and retraining as part of long-term career strategies.
- Singapore's model shows how unions and employers can collaborate to support workers through technological transitions.
What to do
- Encourage children to develop adaptable skills beyond technical knowledge for AI-driven job markets.
- Research government grants and union-supported retraining programmes available in your region.
- Stay informed about sector-specific AI regulations affecting industries relevant to your career path.