Speech by SMS Low Yen Ling at the launch of Microsoft's Agentic AI Accelerator and Enterprise Compute Initiative

Distinguished Guests,

Ladies and Gentlemen,

Introduction

1. A very good morning to everyone. Thank you for inviting me to the official launch of Microsoft’s Agentic AI Accelerator programme.

The Enterprise Compute Initiative (ECI)

2. The Agentic AI Accelerator programme is a key part of the Enterprise Compute Initiative, or ECI, that was first announced by Prime Minister Lawrence Wong at this year’s budget.

3. Administered by the Digital Industry Singapore (DISG), the ECI encourages enterprises to undertake AI-driven transformation projects through structured programmes delivered by our cloud service provider partners. Microsoft is one of these partners, reflecting our close partnership in driving innovation in our businesses.

Microsoft’s Agentic AI Accelerator Programme

4. Singapore firmly believes that AI will be a force for good, driving economic growth while empowering both Singaporeans and Singapore enterprises. To bring us closer to this vision, Singapore launched the refreshed National AI Strategy 2.0 in December 2023. It outlines plans to build a thriving AI ecosystem and encourage widespread AI adoption.

5. Emerging technologies like AI can be complex and intimidating for early adopters. To address this, we launched the ECI to help enterprises take their first steps in development and deployment. Through the programme, we support companies in developing AI solutions based on their specific business needs.

6. Microsoft’s Agentic AI Accelerator programme is the third such initiative under the ECI banner. It aims to support up to 300 participating companies. Each company will receive up to S$250,000 in Azure cloud credits, and AI training and tools. The AI training is designed with curated resources and certifications for crucial roles such as AI and security engineers. This aims to equip companies with the skills needed to implement and integrate cloud-based AI solutions.

7. Participating companies will also gain access to the technical expertise of consulting partners, with a government grant of up to $105,000 per company. Leveraging the experience of Cloud Service Providers (CSPs), companies will build their AI roadmap, develop their MVPs, and navigate change management processes.

Pushing the Boundaries of AI

8. However, the journey goes beyond change management. We envision companies continuing to innovate and exploring new areas in their business that can benefit from AI. AI is already transforming the way we work – from answering queries to processing languages and generating content. And AI can do even more!

9. This brings us to the next frontier of AI: Agentic AI. Agentic AI creates autonomous systems that adapt, learn, collaborate, and make decisions without the need for constant guidance. These AI agents independently gather data, assess it, make decisions and execute actions. Let me share an example.

   1. Founded in Singapore in 2007, Patsnap is a local tech unicorn focused on helping Research & Development (R&D) and Intellectual Property (IP) teams access patent information. One of their solutions, Patsnap Eureka, uses Agentic AI to search for patents, compare them with competitors, summarise key trends, and send weekly reports. This innovation significantly reduces R&D costs and boosts efficiency for IP professionals.

10. As part of the Agentic AI Accelerator programme, selected companies ready to push the frontiers of AI will receive additional support from Microsoft. Microsoft will offer up to S$700,000 in services to help businesses build their agentic AI roadmaps with established Microsoft technology partners. Companies will be guided on how to develop their own agentic AI systems and have the opportunity to collaborate with Microsoft to drive AI innovation.

11. I strongly encourage companies to seize this opportunity to partner with Microsoft on their AI journey.

Building an AI-Ready Workforce

12. As we support companies in developing cutting-edge AI tools, it is equally essential to ensure that our people are well-equipped to seize the opportunities that AI presents. We must build a steady pipeline of AI talent and a strong core of AI users with the right skills to fully harness its potential.

13. Microsoft is our valuable partner in our efforts to develop AI talent and users in Singapore. As a SkillsFuture Queen Bee, Microsoft has partnered with SkillsFuture Singapore (SSG) to help companies, particularly SMEs, upskill their workforce in AI. Through curated learning pathways and practical hands-on workshops, this partnership empowers businesses to use AI to improve productivity and business outcomes. Launched in March 2024, the collaboration aimed to support up to 2,000 Small and Medium Enterprises (SMEs) over three years. I am pleased to share that in just one year, more than 2,100 SMEs have already benefited from the programme.

Conclusion

14. For Singapore to thrive in the global economy, we must stay at the forefront of enterprise innovation. Let us continue to innovate to improve our workplace processes, widen AI technology development and adoption, and upskill our people to remain competitive and resilient. This will allow us to realise the full potential of AI and bring lasting benefits to Singapore.

15. Thank you, Microsoft, for your continued commitment to Singapore’s AI journey. I trust that our participating companies will reap valuable, long-term benefits from these public-private partnerships. I look forward to seeing more Singapore-based companies leverage AI to raise productivity and automate their operations.

16. Let’s push the boundaries of AI and together forge a transformative future for Singapore for the next 60 years and beyond.

17. Thank you.