Regional News

Singaporean enterprises are cutting back on their AI budgets, allocating just 11.5% of their technology spending to AI this year, down from 15.5% in 2024, according to a new study by ServiceNow. Despite increased government support for AI adoption, firms are struggling with data security and governance issues, which are impeding the realisation of AI’s full potential.

The study highlights that only 26% of Singaporean enterprise leaders believe their organisations have reached a maturity level capable of transforming with AI. Furthermore, 29% reported no positive impact on gross margins from AI investments over the past year. The primary challenges identified include a lack of leadership alignment, unclear governance frameworks, and an overemphasis on technical upskilling without comprehensive enterprise readiness.

CK Tan, APJ Innovation Officer at ServiceNow, noted, “What we’re seeing in Singapore and across Asia-Pacific is that AI adoption is accelerating, but strategic clarity is lagging. Without a clear shared AI vision across the business, even the most promising AI investments struggle to deliver.”

Cybersecurity and governance gaps are significant barriers, with 21% of enterprise leaders citing data security and 15% pointing to governance deficits as major obstacles. The fragmented approach to AI innovation, with 72% of enterprises deploying AI through multiple task forces, exacerbates these issues, leading to reduced transparency and stalled returns.

Despite confidence in AI talent, with 31% of enterprises expressing assurance in their capabilities, the absence of strategic structures and governance frameworks limits effective AI deployment. ServiceNow is addressing these gaps by partnering with Nanyang Polytechnic to develop AI curriculum and research, aiming to equip students with practical skills for real-world applications.
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As Asia experiences intense summer heat waves, Agoda, a Singapore-based digital travel platform, is promoting reverse-season travel to cooler destinations. The company has curated a list of refreshing retreats where travellers can enjoy crisp air and lush landscapes, offering a respite from the sweltering temperatures.

Among the top picks is Leh in India, a high-altitude town in the Himalayas known for its cool climate and stunning scenery. Visitors can explore ancient monasteries and trek through rugged landscapes. In Vietnam, Sapa offers misty weather and terraced rice fields, providing a picturesque escape where visitors can interact with local hill tribes.

Indonesia’s Dieng Plateau, a volcanic highland, is celebrated for its mystical landscapes and cool temperatures. Travellers can explore ancient temples and colourful crater lakes. Alishan in Taiwan, perched at 2,200 metres above sea level, offers misty mornings and breathtaking sunrises, with activities like riding the Alishan Forest Railway and sipping locally grown tea.

Dalat in Vietnam, known as the City of Eternal Spring, boasts a temperate climate and European-inspired architecture. Visitors can enjoy flower gardens and picturesque waterfalls. Japan’s Karuizawa in Nagano Prefecture is a favourite summer retreat with its mild weather, cycling trails, and hot springs. Gangwon Province in South Korea offers alpine landscapes and cool breezes, ideal for hiking and relaxation.

Krishna Rathi, Associate Vice President at Agoda, stated, “When the summer heat turns up, it’s time to turn down the thermostat with a cool getaway.” Agoda provides access to over 6 million holiday properties, 130,000 flight routes, and 300,000 activities, all bookable via their website or mobile app.
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Serial banking entrepreneur Anthony Thomson, known for founding Metro Bank, atom bank, and Bank 86,400, is preparing to launch his fourth bank, aimed specifically at family offices (FOs) and ultra-high-net-worth individuals (UHNWIs). The new venture, tentatively named Family Offices Bank, will be owned by the FOs it serves, allowing them to share in the economic value they help create.

Thomson has assembled a team of seasoned banking professionals, including Paul Pester, Stuart Grimshaw, Samantha Bamert, and Sudip Dasgupta, to spearhead this initiative. The bank aims to address the dissatisfaction many FOs feel with current banking services. “FOs and UHNWIs are increasingly frustrated with the service they receive from their banks,” Thomson stated, highlighting the need for bespoke solutions and modern digital banking technology.

The bank plans to leverage artificial intelligence and advanced digital banking tools to offer flexible, tailored services. Thomson emphasised that the bank will be “unshackled from legacy systems and traditional organisational structures,” aiming to disrupt the status quo.

Set to launch in late 2026, the bank is currently in the capital-raising phase, seeking investments exclusively from FOs and UHNWIs, who will also be its clients. Potential locations for the bank include Jersey, Singapore, and the UAE, with a final decision expected later this year.
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Singapore Airlines (SIA) has announced a three-year partnership with Qualtrics, a leader in experience management, to enhance its customer experience analytics. By utilising advanced analytics and GenAI technology, SIA aims to gain deeper insights into customer preferences and feedback across multiple channels, enabling the airline to address concerns proactively and deliver a seamless travel experience.

The collaboration allows SIA to process and analyse customer feedback more effectively, integrating advanced analytics into their customer experience strategies. Melvin Ng, Vice President of Customer Experience at SIA, stated, “By integrating advanced analytics with our customer experience strategies, we can better understand our customers’ evolving expectations, address their needs more effectively, and enhance their end-to-end journey with Singapore Airlines.”

Qualtrics’ GenAI capabilities will be explored by SIA to enhance the analysis of open-ended customer feedback, extracting more meaningful insights from written comments and suggestions. This initiative is expected to improve the overall customer travel journey.

Brad Anderson, President at Qualtrics, highlighted the importance of delivering great experiences, saying, “Companies that deliver great experiences build deeper relationships with their customers, and today’s market leaders are proven to have made this a greater priority over the last three years.”

This partnership underscores the growing demand for AI-driven experience management in the airline industry, particularly in the post-pandemic era. As consumer feedback habits evolve, airlines like SIA are prioritising the use of omnichannel insights to stay competitive and meet customer expectations.
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A recent report by SecurityScorecard has unveiled that every one of Singapore’s top 100 companies by market capitalisation has been affected by third-party cyber breaches over the past year. The report, titled “The State of Cyber Resilience in Singapore,” highlights significant vulnerabilities in the digital supply chain, despite strong internal security ratings.

The study examined key sectors such as Finance, Technology, Healthcare, Energy, and Agriculture, comparing Singapore’s cybersecurity posture with international peers like the UK, Germany, and Australia. Notably, whilst 91% of companies received an A grade for cybersecurity hygiene, all suffered breaches through third-party and fourth-party networks, indicating a critical gap in external risk management.

Ryan Sherstobitoff, Chief Intelligence Officer of SecurityScorecard, stated, “Every major company in Singapore is being impacted by risks they don’t directly control. As threat actors grow more sophisticated and supply chains more complex, cybersecurity resilience requires constant vigilance across all digital relationships.”

The report also found that the Technology sector recorded the highest direct breach rate at 40%, despite achieving high security ratings. Meanwhile, the Agriculture, Energy, and Healthcare sectors excelled with perfect A ratings and no direct breaches, yet still faced 100% third-party exposure.

SecurityScorecard urges organisations to enhance their monitoring of third- and fourth-party ecosystems and align vendor management with cybersecurity standards. As Singapore continues to digitise, the report underscores the necessity of treating supply chain resilience as a national priority.
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Skyports Drone Services and TFG Marine have successfully completed Singapore’s inaugural drone operations involving fuel tanker vessels, marking a significant milestone in maritime logistics. The trials, conducted in partnership with the Maritime and Port Authority of Singapore, demonstrated the safe use of drones for transporting bunker fuel samples, offering a faster and more sustainable alternative to traditional methods.

The operations involved the Speedbird DLV-2 drone, which was remotely operated from the Maritime Innovation Lab. The drone transported samples to and from TFG Marine’s vessel, MT Diligence, showcasing its ability to operate safely in potentially hazardous marine environments. This initiative aims to improve port safety, efficiency, and sustainability by reducing the risks associated with vessel-to-vessel transfers.

The trial was the culmination of nearly two years of extensive safety research and regulatory discussions. Key safety measures included pre-trial checks on electrostatic discharge and real-time gas and vessel drift measurements. The drones approached the tanker perpendicularly to avoid hazardous areas, and were preprogrammed to exit safely in case of signal loss.

Alex Brown, Director of Drone Services at Skyports, highlighted the potential of drone technology to enhance operational efficiency in Singapore’s busy port waters. Kenneth Dam, Global Head of Bunkering at TFG Marine, expressed enthusiasm for the partnership, emphasising the role of innovative technology in transforming maritime activities.

Following the successful trials, Skyports plans to continue collaborating with the MPA and the tanker community to expand drone operations and strengthen safety protocols.
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uSMART Securities Singapore Pte Ltd, a leading fintech brokerage platform, has launched its first physical branch in Singapore at Robinson Road. This development marks a significant milestone as uSMART SG becomes the first fintech brokerage to establish a physical presence in the city-state. The branch aims to bridge the gap between digital and physical investing by offering face-to-face guidance, hands-on experience with trading tools, and lifetime zero commission trading on US stocks, ETFs, and options.

Backed by strategic investor Chow Tai Fook Holding, uSMART SG is licenced and regulated by the Monetary Authority of Singapore (MAS). The branch offers a wide range of global investment products, including stocks from Singapore, Hong Kong SAR, the UK, and Japan, as well as Contracts-for-Difference (CFDs) for exposure to foreign exchange, gold, and futures. Additionally, investors can access money market funds (MMFs) and structured products like fixed coupon notes (FCNs).

Alfred Kwok, Head of Marketing at uSMART SG, expressed enthusiasm about the new branch, stating, “Our branch combines the convenience of fintech with the trust and familiarity of personal service, empowering investors to grow their portfolios confidently.”

To celebrate Singapore’s 60th birthday, uSMART SG has launched an SG60 promotion, offering 12% annual interest for 60 days through its Money Market Fund for deposits of S$2,000. The branch, located at 50 Robinson Road, is open daily from 10:00 AM to 7:00 PM, with expert staff available to assist with account openings and trading guidance.
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Ng Teng Fong General Hospital (NTFGH) has unveiled Project ENTenna, Asia’s first allergy database focused on Allergic Rhinitis (AR), a condition affecting 39% of Singaporeans. This AI-driven initiative, supported by National University Hospital, Tan Tock Seng Hospital, Changi General Hospital, and A*STAR, will track 6,000 patients over three years to enhance AR diagnosis and management.

The programme, backed by the Ministry of Health’s Health Innovation Fund and the JurongHealth Fund, integrates patient-reported data with AI analytics to personalise treatment and improve medication adherence. This has already led to a 45% increase in discharges from specialist outpatient care to primary care at NTFGH, optimising resource use and care transition planning.

Project ENTenna employs WhatsApp chatbots, AI-powered symptom trackers, and behavioural nudges, potentially improving medication adherence by up to 25%. Adjunct Associate Professor Ng Chew Lip, the project’s principal investigator, stated, “This is possibly the most advanced model of ENT care tapping on AI and smart communication technology in Asia.”

The programme also collaborates with A*STAR Singapore Immunology Network to explore molecular-level investigations, aiming to identify new therapeutic targets. Early findings have revealed environmental trends influencing AR symptoms, which could inform future clinical guidelines.

Future plans include expanding the project to paediatric care and vulnerable groups such as migrant workers, alongside a cost-effectiveness evaluation to support scalability across other healthcare institutions.
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Singaporean scientists from the Agency for Science, Technology and Research (ASTAR) Institute of Molecular and Cell Biology and Singapore General Hospital have unveiled an artificial intelligence-powered scoring system, TIMES, that predicts the recurrence of hepatocellular carcinoma (HCC), the most common form of liver cancer. Featured on the cover of the scientific journal Nature, the TIMES score analyses the spatial distribution of immune cells and specific genes within liver tumour tissues, achieving an 82% accuracy rate in predicting recurrence.

The TIMES score identifies patients at risk of recurrence months earlier than current methods, allowing for timely and targeted interventions. “In Singapore, up to 70% of liver cancer patients experience recurrence within five years,” said Dr Joe Yeong, principal investigator at ASTAR IMCB. “TIMES offers a significant advancement in predicting these outcomes, enabling clinicians to intervene at the earliest possible stage.”

The system was validated using samples from 231 patients across five hospitals. It is now accessible through a free web portal for research purposes, with plans to integrate it into clinical workflows. Further validation studies are planned at Singapore General Hospital and the National Cancer Centre Singapore later this year. Discussions with diagnostic partners are also underway to develop TIMES into a clinically approved diagnostic test kit.

The development of the TIMES score marks a significant step forward in liver cancer treatment, potentially improving patient care and survival outcomes.
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DBS has unveiled iCoach, a Generative AI-powered coaching platform designed to provide scalable career guidance to its workforce. Developed in collaboration with renowned executive coach Marshall Goldsmith, iCoach aims to democratise coaching by making it accessible to all employees, not just top executives. This initiative addresses the challenge of delivering cost-effective coaching at scale, traditionally reserved for select individuals.

The platform is part of DBS’s broader strategy to equip its staff with future-ready skills through its Triple E framework—Education, Exposure, and Experience. Lee Yan Hong, Head of Group Human Resources at DBS, emphasised the importance of career resilience, stating, “iCoach is a powerful new addition that complements these efforts, leveraging Gen AI to offer personalised, on-demand career guidance.”

iCoach operates 24/7, providing tailored advice based on the bank’s roles and internal pathways. It builds on data showing that 70% of coached individuals experience improved work performance and communication skills, whilst 80% report increased self-confidence.

The tool complements other DBS initiatives such as iGrow, an AI-driven platform for personalised career advice, and the DBS Mentoring Programme, which connects employees with leaders for career insights. Additionally, the DBS Learning Hub offers over 10,000 courses, and the Be My Guest Programme allows job shadowing and workshops across departments.

DBS’s commitment to employee development has earned it accolades, including being ranked first in TIME’s 500 Best Companies in Asia Pacific in 2025 and Forbes World’s Best Employers in 2024. The bank continues to be recognised as a top employer in Singapore, topping LinkedIn’s rankings for three consecutive years.
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