Singapore will create a "National AI Council" to provide "strategic direction" on the use of artificial intelligence as part of a set of measures in the 2026 fiscal year budget. The initiatives will include employee training, business tax deductions, and free public access to cutting-edge AI tools.
"Harnessed well, AI will be a strategic advantage for Singapore. It can help us overcome our structural constraints, our limited natural resources, rapidly ageing population, and tight labor market," Singapore's Prime Minister and Finance Minister Lawrence Wong told Parliament on Thursday.
The government will launch a new set of national "AI Missions" to promote AI-led change in key sectors of the economy like advanced manufacturing, connectivity, finance, and healthcare. Also, corporations will be eligible to claim 400% tax deductions on up to 50,000 Singapore dollars in qualified AI expenses annually for 2027 and 2028.
https://breakingthenews.net/Article/Singapore-to-establish-national-AI-council/65657549
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