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RESEARCH, ANALYSIS & TRENDS

Singaporean businesses could be doing more to industry bodies and associations (33%) should be
minimize the potential risks. Steps businesses are taking responsible, and some point to global technology
to mitigate the risk of negative outcomes primarily companies (30%). However, interestingly, less than
include providing reskilling training for employees (44%); half (39%) of businesses think it’s ‘extremely important’
consulting experts (38%); developing best practice that AI systems comply with all relevant international
guidelines (38%); reviewing global best practices (36%); and Singaporean regulations.
and conducting reviews (35%) among others.
Rob LoCascio, CEO and Founder of LivePerson, said:
Where Singaporean businesses look to for AI “We’re on the cusp of a new era. Artificial intelligence is
leadership opening up tremendous potential for businesses and
consumers alike. However, as with any new
There is mixed sentiment among Singaporean digital technology, businesses need to approach the
leaders on whether accountability for AI should lie with development and implementation of AI with reflection
those developing (39%) or deploying the AI (37%). under an ethical and long-term lens, looking at practical
Within their organizations, respondents reported the and proactive measures to ensure ongoing ethical
board of directors (35%) and company leadership, implementation that results in the best outcomes for
including C-suites (31%), are most likely to have ultimate customers.” He highlights the need to foster an ‘ethical
accountability for the decisions made by AI systems. AI mindset’ that starts with developing a well-defined
ethical AI strategy, as without this, AI will become the
Singaporean business leaders have differing views on next digital technology that divides us. ◊
who should be responsible for setting AI regulation and
enforcing standards. Some say the responsibility sits
with the Singaporean government (41%), some think By MediaBUZZ

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