With the world turning increasingly fragmented, polarised and protectionist, countries like Singapore that rely on free trade face immense challenges. But there are opportunities too amid today’s upheavals; One such is to be found in rapid technological advancements, especially that offered by generative artificial intelligence (AI).

Innovation on the tech front and others spurs economic growth, creates jobs and unlocks new pathways for businesses and countries to thrive. One indicator of its importance: global research and development (R&D) spending hit a record high of US$2.5 trillion (S$3.3 trillion) in 2022.