AI-driven job creation is outpacing job losses globally, according to a new report by Snowflake and Omdia by Informa TechTarget. The study, which surveyed 2,050 business and technology leaders across 10 countries, including Singapore, reveals that 77% of organisations report AI-driven job creation, whilst 46% report job losses. However, only 33% of Singaporean professionals have quantified returns on AI investments, significantly lower than the global average of 49%.
The report highlights that Singaporean organisations are struggling to identify specific AI use cases, with 32% citing this as a top challenge, compared to 19% globally. This difficulty is reflected in the cautious budget allocations for AI, with Singaporean respondents estimating only 15% of their tech budgets will be allocated to generative AI over the next year, the lowest globally.
Jenny Koh, Country Manager for Snowflake in Singapore, noted, “The recurring challenge is not a lack of vision, but the need for a trusted data foundation to power it.” The report suggests that whilst Singapore matches the global average in AI activity, its application across departments is narrower, impacting operational efficiency and cost reduction gains.
Globally, AI is seen as a driver of job growth, particularly in technical roles such as IT operations, cybersecurity, and software development. The report underscores the importance of data readiness and governance as key factors in effectively scaling AI initiatives. As organisations continue to embed AI into core operations, the potential for positive workforce impacts and operational efficiencies remains significant.
