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Artificial intelligence could double Singapore's growth rate

Without AI, the economy is predicted to expand 3.2%


The rise of the machines is coming. In technology-proficient Singapore, their integration into the economy could help the domestic growth rate to almost double and significantly lift labour productivity, according to a report by consultancy Accenture. It found that artificial intelligence (AI), once fully adopted, might lift Singapore’s annual growth rate to 5.4 per cent in 18 years. That would be the largest increase among 33 countries studied and would translate into an additional $215 billion in gross value added. Without AI, the economy is predicted to expand 3.2 ...

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First Published: Wed, July 26 2017. 03:39 IST