Singapore’s Deputy Prime Minister Swee Keat recently announced the launch of a $50 million project for advanced research in artificial intelligence, cybersecurity, and 5G testbeds.
This project aims to develop new 5G testbeds and advanced artificial intelligence-powered communication network infrastructures to build a strong communication network in the country considering future requirements. This project falls under the umbrella of the country’s Future Communications Research and Development Program.
“Just as globalization drove decades of economic growth around the world, I believe the fast growing digital economy can propel us to a better future,” said Swee Keat launching the program. The government wants to build a complete 5G network coverage in the country by 2025.
Coursera recently published a global skill index where Singapore was praised for its investment in artificial intelligence and data science industries. Experts suggest that this new project was designed because the report mentioned that the countries intensively investing in technology will have a technically sound workforce in the future.
The country also plans to launch a new digital exchange platform, the Singapore Trade Data Exchange (SGTraDex). This platform will enable individuals of various industries to share real-time data in an end-to-end encrypted manner.
Keat said, “From the pilots so far, SGTraDex has the potential to unlock more than $150 million of value annually for the supply chain ecosystem.” He further added that this initiative would also considerably reduce the time consumed in customs clearance, insurance, trade financing, and many other tasks.
Earlier this year, Singapore announced the launch of its artificial intelligence program (AISG), where the government had partnered with Google Cloud to provide the country’s talented engineers a practical experience in the artificial intelligence industry.