United Overseas Bank (UOB) has unveiled AI Ready 2.0, an enhanced phase of its AI Ready Programme, developed in collaboration with the Infocomm Media Development Authority (IMDA). This initiative is designed to assist small and medium-sized enterprises (SMEs) in accelerating AI adoption and scaling its implementation across their operations.
The programme builds on a successful first year, where over 600 SMEs engaged in workshops and ecosystem activities to explore AI opportunities. Despite increased awareness, many SMEs face hurdles in moving from exploration to implementation due to limited resources and expertise. AI Ready 2.0 addresses these challenges by offering comprehensive support in capability development, prototyping, financing, and implementation.
Janet Young, UOB’s Head of Group Channels and Digitalisation, stated, “AI is no longer a future opportunity. It is becoming a business imperative.” She emphasised the programme’s role in bridging the gap between interest and tangible outcomes by providing capability building, expert guidance, and ecosystem partnerships.
The first year of the AI Ready Programme saw significant engagement, with over 10 workshops and 50 personalised AI discovery engagements conducted. The programme facilitated more than 800 connections between SMEs, technology providers, and industry experts. As it progresses, the initiative aims to expand participation to 3,000 SMEs by its third year.
Success stories include Krislite Pte Ltd, which reduced tender preparation time by up to 30%, and Events Partner Pte Ltd, which doubled its monthly targeted outreach using AI-powered tools. Seng Heng Engineering Pte Ltd developed an AI prototype that is expected to save up to S$350,000 over three years by automating quality assurance processes.
AI Ready 2.0 introduces enhanced financing support, AI prototyping workshops, and a peer-led community to further assist SMEs in their AI journeys. These enhancements aim to provide SMEs with the resources and guidance needed to implement AI solutions effectively, improving productivity and competitiveness.
