Singapore’s digital economy has stabilised at a 17.7% share of GDP, contributing SG$113 billion and growing at a compound annual rate of 11.2%. The government plays a pivotal role in this growth, particularly through initiatives like the Productivity Solutions Grant, which has enabled small and midsize businesses (SMBs) to adopt digital technologies across key areas, including artificial intelligence (AI) and cybersecurity.
Approximately 94.6% of SMBs have embraced digital solutions, resulting in significant cost savings. The government agency Infocomm Media Development Authority (IMDA) supports this digital transition by providing access to 400 pre-approved digital solutions, with plans to further promote AI adoption among SMBs, enhancing their competitiveness in the evolving digital landscape.
