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Digital innovations, which bring both opportunities and difficulties, are reshaping economies all around the world, according to Josephine Teo, Minister for Communications and Information. Singapore, therefore, understands the value of digital connectivity and AI for the Public Good in releasing this potential.
The digital economy in Southeast Asia is anticipated to grow to 1 trillion US dollars (or 1.34 trillion SGD) by 2030, she continued. To improve its digital infrastructure, encourage AI development, and encourage responsible deployment, the nation has started several programmes.
“While countries each have their own priorities and approaches, our people and businesses benefit most when our digital economies are connected and interoperable. In this regard, Singapore and China share a common interest in fostering closer international collaboration,” said Minister Josephine.
The development of artificial intelligence (AI) has also been given priority in China, with a major emphasis on research, patents, and industrial centres. For the benefit of their citizens and enterprises, Singapore and China are interested in developing stronger ties.
Singapore has made enormous investments in digital connectivity to ensure the viability of its digital infrastructure. Priorities for improved connectivity with international partners are set forth in the recently released Digital Connectivity Blueprint.
The government of Singapore is taking the lead in AI testing and responsible deployment for smart cities, and the country is also committed to advancing AI for the Public Good. Particularly in industries like financial services and transportation, the private sector is essential to the success of commercial applications. These initiatives promote AI’s positive effects on inclusivity, trust, and responsibility.
According to Minister Josephine, China has made AI a major focus area, as seen by the sheer volume of scholarly articles and patent applications it has filed. To assist additional research and development, the nation intends to set up industrial centres for AI and tech platforms.
She added that there is a shared interest in advancing international cooperation at bilateral meetings between Singapore and China, which acknowledges the advantages that connected and interoperable digital economies bring to both countries.
“Our bilateral relations have continued to take a long-term and strategic perspective, charting the way for an even more mutually beneficial partnership,” Minister Josephine furthered.
China and Singapore have a close, strategic alliance that is characterised by intergovernmental cooperation. This cooperation is demonstrated by the Belt and Road Initiative and the China-Singapore Free Trade Agreement.
Cooperation in the digital sphere is quickly becoming essential to bilateral and global economic interactions. To foster interoperability and mutual confidence, collaboration needs to be strengthened as technologies develop.
Through the establishment of interoperable standards with like-minded partners, Singapore seeks to improve international data flows and the ease of digital trade. A primary aim, supported by the commitment of senior leadership in both nations, is to strengthen collaborations in the digital economy. This dedication opens the door for increased cooperation and the investigation of fresh frontiers in the digital economy.
Singapore and China are aware of the revolutionary potential and social and economic benefits that digital technologies hold. Both nations are laying the foundation for a partnership focused on the future by putting a high priority on digital connection, AI development, and cooperation.
Further, both nations want to fully use the potential of their digital economy for the benefit of their citizens and enterprises. To do this, they are working with other countries, developing interoperable standards, and building trust between each other.
