Singapore urges swift AI investment as boom wanes, calls for global safeguards

Speaking at the Forbes Global CEO Conference in Singapore, Prime Minister Lawrence Wong cautioned that the artificial-intelligence boom will not last indefinitely and that the nation should use the present window to develop new skills and higher-quality employment. He noted that Singapore’s semiconductor firms such as GlobalFoundries and Micron are benefiting from heightened demand for memory and specialty chips, creating spillovers into logistics and professional services.

Wong argued that no single country can manage the risks of autonomous AI systems and called for international standards, perhaps coordinated by the United Nations, while acknowledging sector-specific safety rules already emerging in finance and transport. He also warned against protectionist tariffs, emphasized the importance of free navigation in strategic waterways like Hormuz, and said Singapore will strengthen regional ties as ASEAN chair next year, seeking new partnerships across Latin America, Africa and the Middle East.