Staff Reporter
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Photo from Unsplash by Igor Omilaev.
Six in 10 Singapore entrepreneurs plan to invest in AI.
Nearly two in three Singapore entrepreneurs have already adjusted their business operations to prepare for artificial intelligence, according to HSBC Private Bank's Global Entrepreneurial Wealth Report 2026.
The survey found that 65% of entrepreneurs in Singapore have changed their operations in response to AI, compared with 60% globally. Almost all respondents in Singapore (97%) have either already made, or plan to make, operational changes because of advances in AI, versus 95% worldwide.
Investment in AI is also rising. Around 61% of Singapore entrepreneurs plan to invest between 11% and 30% of their annual turnover in AI technologies over the next 12 months, matching the global average.
In a separate report, 75% believed AI would improve their industries, but the proportion of companies approaching or achieving their AI goals fell to 31% from 42%.
The report found that 56% of Singapore entrepreneurs expect AI adoption to increase employee headcount over the next two years, compared with 44% globally. By contrast, 14% expect headcount to decrease, versus 23% globally.
Entrepreneurs also expect AI to improve business performance. Nearly half (49%) believe it will help improve profit margins, compared with 39% globally, whilst 44% expect it to boost their own productivity, versus 38% globally. A further 43% said AI would increase employee productivity, in line with the global average.
However, respondents also identified barriers to adoption. Almost half (49%) said employees' concerns about job losses could slow AI adoption, compared with 34% globally. Meanwhile, 45% cited implementation costs as a challenge, versus 36% globally, whilst 36% raised concerns over data privacy and security, compared with 34% globally.
The report also found that 91% of Singapore entrepreneurs remain positive about their current business prospects, with 35% citing advances in AI as one of the reasons for their optimism.
HSBC Private Bank surveyed more than 3,000 high-net-worth and ultra-high-net-worth entrepreneurs and founders globally for the report.
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