Wealthy entrepreneurs in Singapore are actively integrating artificial intelligence (AI) into their business operations, according to HSBC Private Bank’s Global Entrepreneurial Wealth Report 2026. The report highlights that 65% of Singapore’s high-net-worth entrepreneurs have already adjusted their operations for AI, surpassing the global average of 60%. This shift comes as the Infocomm Media Development Authority (IMDA) reports a rise in AI adoption among Singapore enterprises from 14.7% in 2024 to 23.5% in 2025.
Singaporean entrepreneurs are optimistic about AI’s potential benefits. Over half (56%) expect AI integration to increase employee headcount in the next two years, compared to 44% globally. Additionally, 49% believe AI will enhance profit margins, a sentiment shared by only 39% of their global counterparts. Investment in AI is also on the rise, with 61% of Singapore entrepreneurs planning to allocate between 11% and 30% of their annual turnover to AI technologies in the coming year.
Despite the enthusiasm, challenges remain. Nearly half (49%) of Singaporean entrepreneurs express concerns about employee resistance to AI due to job loss fears, a higher percentage than the global average of 34%. Cost and data privacy issues are also significant concerns for 45% and 36% of local entrepreneurs, respectively.
Tommy Leung, Head of Private Bank, South Asia, HSBC, noted, “Singapore entrepreneurs are moving AI from discussion into execution. What stands out is the breadth of the opportunity they see, from improving margins and productivity to supporting future growth, whilst remaining clear-eyed about the challenges around employee adoption, implementation costs and data security.”
As AI continues to shape business landscapes, Singapore entrepreneurs remain confident, with 91% maintaining a positive outlook on their business prospects, partly due to advancements in AI.
