DBS, in partnership with Enterprise Singapore (EnterpriseSG) and the Infocomm Media Development Authority (IMDA), recently launched the Spark GenAI programme.
Announced by Senior Minister of State for Digital Development and Information, Tan Kiat How, the initiative aligns with the Digital Enterprise Blueprint and aims to drive wider adoption of generative artificial intelligence (Gen AI) solutions among Singaporean SMEs.
While Gen AI offers significant potential to revolutionise business operations – using AI to create text, images, and other media, automate workflows, and create personalized content – a mere 4.2% of Singaporean SMEs have adopted any form of AI technology.
Spark GenAI seeks to address this gap by providing SMEs with the knowledge and resources needed to effectively integrate Gen AI.
The programme offers a structured approach through four key pillars.
This includes resources and workshops to help businesses understand Gen AI applications, identify relevant solutions, access grants to support adoption, and address cybersecurity considerations.
To strengthen digital resilience, Spark GenAI also includes an online cyber wellness course developed by DBS’ cybersecurity team.
DBS aims to reach 50,000 SMEs over the next two years, with workshops scheduled to commence at the end of 2024.
Koh Kar Siong, Group Head of Corporate and SME Banking, DBS, said,
“The digital economy, projected to reach SGD352 billion in Southeast Asia by 2024, presents immense opportunities for growth, but SMEs need to adapt and upskill to remain competitive.
Through the programme, DBS aims to future-proof SMEs and mid-sized corporations by leveraging our expertise to help them adopt Gen AI solutions that enhance productivity, reduce costs and drive innovation.”
Geoffrey Yeo, Assistant Managing Director, Capabilities, EnterpriseSG, said,
“The Spark GenAI programme allows our SMEs to deepen their tech capabilities by harnessing the power of Gen AI solutions for process optimisation and efficiency.
It provides a one-stop channel for SMEs to access relevant resources and support schemes, and harness Gen AI solutions to drive business growth and boost their competitiveness in the evolving AI-driven future.”
Featured image credit: Edited from Freepik
