Budget 2026 debate: Lee Hong Chuang on supporting businesses to adopt AI
In promoting AI adoption among companies, Singapore must focus on three things, said MP Lee Hong Chuang - strengthening evaluation and transparency so businesses can make rational cost-benefit assessments, designing tiered support so small- and medium-sized enterprises (SMEs) do not bear an excessive cost burden and ensuring that subsidy structures encourage capability-building. He also called for more “win-win” partnerships between SMEs and tertiary institutions, where students can work on real-world business challenges, finding solutions for SMEs while lowering adoption costs for them. Mr Lee spoke in parliament on Tuesday (Feb 24).
In promoting AI adoption among companies, Singapore must focus on three things, said MP Lee Hong Chuang - strengthening evaluation and transparency so businesses can make rational cost-benefit assessments, designing tiered support so small- and medium-sized enterprises (SMEs) do not bear an excessive cost burden and ensuring that subsidy structures encourage capability-building. He also called for more “win-win” partnerships between SMEs and tertiary institutions, where students can work on real-world business challenges, finding solutions for SMEs while lowering adoption costs for them. Mr Lee spoke in parliament on Tuesday (Feb 24).
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