Artificial intelligence feared by 70 % of Singaporean firms

70% of firms worry about their ability to adapt to this technology.

A majority of business leaders in Singapore (94%) believe artificial intelligence will transform the skills needed internally by 2020, a report by Fujitsu revealed. 

Despite this, 70% worry about their company’s ability to adapt to digital technologies such as artificial intelligence. More than half of business leaders (68%) admitted to having a lack of digital skill sets in their organisation. However, another recent survey showed that seven in ten employees in the country are keen to learn artificial intelligence.

Whilst most of the respondents (92%) are taking steps to increase their access to digital expertise, it is not a priority for most businesses. Two in three firms put more attention on technological change during a digital transformation project.

“Co-creation remains a strong influence on businesses as well. However, there is still much work to do, with the recognition of a distinct lack of digital skills within the organisations, and the concern that slow progress in digital technology will cause them to lose customers to their competitors,” said Wong Heng Chew, country president of Fujitsu Singapore, in a press release.

The Digital Transformation PACT report was participated by 1,625 business decision makers worldwide, including 50 from Singapore.