Opening Remarks by Minister Josephine Teo at IBM Think Singapore 2024

OPENING REMARKS BY MRS JOSEPHINE TEO, MINISTER FOR DIGITAL DEVELOPMENT AND INFORMATION, AT IBM THINK SINGAPORE 2024 (15 AUGUST 2024)

Senior Vice President and Chief Operating Officer, IBM Consulting, Mr Mohamad Ali,
General Manager, IBM Asia Pacific, Mr Hans Dekkers,
General Manager and Managing Partner APAC, IBM Consulting, Ms Juhi McClelland,
General Manager and Technology Leader, IBM ASEAN, Ms Catherine Lian,
Colleagues and friends,

1. Good morning and thank you for your kind invitation.

2. It is good to be back at IBM Think Conference.

AI REMAINS A STRATEGIC IMPERATIVE FOR SINGAPORE

3. A year ago, at this conference, we discussed the tremendous opportunities that AI presented. Much has happened since, including the launch of Singapore’s refreshed National AI Strategy 2.0 last December, which we refer to as NAIS 2.0.

Governance

4. Our foundational belief is that AI should be harnessed in a responsible and secure way that delivers real value to our people and businesses.

(a) This is why we made it a priority to extend our practical guidelines and tools for AI Governance beyond traditional AI, to also cover Generative AI. In May, we launched our Model Governance Framework for Generative AI and extended our open-source testing toolkit, AI Verify, through Project Moonshot.

(b) In July, we also started public consultations on a set of guidelines and a Companion Guide for Securing AI Systems – so that AI in our ecosystem is secure by design. We would certainly welcome feedback on these new initiatives.

5. Recognising the importance of international partnerships on AI governance,

(a) Singapore led the development of the ASEAN Guide on AI Governance and Ethics, which was endorsed at the 4th ASEAN Digital Ministers’ Meeting in February this year.

(b) Two weeks ago, I also co-chaired the second US-Singapore Critical and Emerging Technology Dialogue with Minister for Foreign Affairs Dr Vivian Balakrishnan, US Secretary of State Antony Blinken, and US National Security Advisor Jake Sullivan. The first Dialogue was held in October last year.

6. The US is one of our closest partners in AI, and we have done much together.

(a) This includes the first country-to-country mapping or “crosswalk” of our AI governance frameworks, which we are extending to Generative AI.

(b) We are now working together on practical testing and benchmarks, which promote interoperability and reduce fragmentations in this space.

Innovation 

7. We focus on developing such guidelines, tools, and collaborations as they help build  trust – which is key to facilitating innovation in our AI ecosystem. In this regard, I am glad to share with you that the momentum is certainly growing.  

(a) Many organisations in Singapore are expanding their AI Centres of Excellence or are setting up new ones.  

(b) Businesses are using AI to fuel their digital transformation.  

• A leading bank here, DBS, has already developed more than 600 AI/ML models and 300 use cases, delivering economic value of S$180 million.¹ 

(c) Within government, we appreciate the potential for AI to be used to support the public good. 

Our very own “special forces” OGP, which stands for Open Government  Products, recently released an AI-enabled tool to help the elderly understand  the letters they receive from the government, providing simplified, clear, and  actionable summaries. 

• Singaporeans will immediately understand why this AI tool is named  “ReadLiao”.  

8. IBM has been a longstanding partner of Singapore on AI, and many of its efforts in capability development also serve the public good. I am therefore happy that  IBM and NUS intend to establish a new AI Research and Innovation Centre. 

(a) This will involve the installation of a full-stack AI system at NUS, which will include  IBM’s computing accelerators that are optimised for AI workloads.  

(b) It will be the first such system that IBM is establishing on a university campus in  the Asia Pacific. 

(c) NUS and IBM will collaborate on a range of research activities such as Green AI  and AI Safety, both of which align with Singapore’s priorities. 

9. This project is yet another good example of how Singapore’s AI ecosystem is steadily building up. We will continue to bring together industry, government, and academia for meaningful partnerships that we can all benefit from. 

10. As much as we are growing our capabilities in AI, we have also set our sights on another  emerging area, and that is quantum technology, so I was very glad to hear Hans mention it,  although you didn’t have a lot of time to elaborate, but maybe with your permission, I will say a little bit more about this new frontier where we are also taking a similar systems approach to growing.  

QUANTUM TECHNOLOGY WILL BE THE NEXT AREA OF FOCUS

11. There are good reasons to believe that quantum technology may change the world even more dramatically than AI technology. Quantum computers, for example, could solve computing problems that are so massive that traditional computers will take too long to solve.

12. There are several potential applications of quantum technology that Singapore is keen to understand.

(a) The first is quantum computing. It has been said that financial models can be further optimised to help risk analysis and portfolio optimisation; drug discovery can be accelerated for the healthcare sector; and container operation algorithms can be improved for logistics.

(b) The second is quantum communications. Like many countries we would welcome the opportunity to better secure our communication channels against malicious interceptions. Quantum-safe networks can also link up quantum sensors and computers for trusted processing and communications.

(c) The third is quantum sensing. Quantum sensors with unprecedented precision and sensitivity in measuring physical quantities can significantly improve our biomedical devices as well as navigation and positioning applications.

13. However, like many keen observers, we recognise that there is still some way to go before quantum technology fully matures. Nevertheless, it is in the Singapore DNA to try and be prepared for the eventual opportunities when they materialise. And fortunately, we are not starting from scratch.

(a) The seeds of our quantum strategy were planted almost 20 years ago when we established the Centre for Quantum Technologies (CQT) at NUS.

• Today, CQT is a global leader in this field, being ranked 6th globally based on the h-index, which measures how often its publications are being cited by others.

(b) The National Quantum Office was formed in 2022 to boost and better synergise our research, innovation, and enterprise activities.

14. Just as we have a National Strategy for AI, we recently announced our National Quantum Strategy (NQS).

(a) Developed and driven by National Quantum Office, a further S$300 million will be invested to strengthen Singapore’s position as a leading hub in quantum technology over the next five years.

(b) Addressing the risks associated with the adoption of such new technologies is a core part of the effort.

• There is increasing concern and attention on the security risks that quantum computing may introduce.

• These include breaking of encryption standards that undergird our digital communications and transactions, which we must guard against.

15. For today’s conference, let me highlight three key areas we are focusing on –capabilities, infrastructure, and partnerships.

Capabilities

16. Our most valuable assets have always been the capabilities we build.

(a) We recognise there are still many challenges in developing quantum computers –cooling, stability, and error correction – these are some of the things that come to mind.

(b) But rapid technological developments in recent years have progressively enabled quantum computing to scale and become commercially viable.

(c) We have therefore taken steps to be ready, and to make sure that we have the core capabilities in place to capitalise on the potential of quantum computing when it comes about.

17. For example, we set up the National Quantum Computing Hub (NQCH) to build collaborations, capabilities, and the community that will bring Singapore to the next era of computing.

(a) Researchers work closely with industry end users, domain experts, and solution providers on use cases in areas like finance and computational biology.

(b) The National Quantum Computing Hub which I mentioned is hardware-agnostic, and continuously seeks to onboard partners that strengthen our ecosystem.

Infrastructure

18. It is also critical to invest in the right infrastructure early, to reap the benefits of quantum computing, as well as mitigate its risks. Very recently, a White House report estimated that federal agencies will need to spend over US$7 billion in 10 years to migrate to post-quantum cryptography.

(a) We are studying ways to support organisations in migrating to quantum safe technologies, so that they are protected against quantum-enabled threats.

(b) In 2023, we announced the National Quantum-Safe Network Plus (NQSN+) initiative to enable communications network operators to build nationwide, interoperable quantum-safe networks.

• These networks will be progressively rolled out from the end of this year and serve businesses in Singapore, by safeguarding their critical data in the quantum age.

• This was a first step towards our broader vision of a quantum-safe Singapore.

• Under this initiative, Singtel announced just last week that it will be launching Southeast Asia’s first NQSN+,² building on the capabilities and infrastructure that they have already developed. Enterprises can leverage Singtel's NQSN+ to protect themselves against quantum threats for their regional operations and not just Singapore operations.

• Industry users can work with our participating telcos to testbed their business-critical functions on NQSN+. We also welcome research collaborations with our telcos.

Partnerships

19. This brings me to my broader point on partnerships. Apart from our investments in capabilities and infrastructure, we are always looking to collaborate with our global counterparts to turn challenges into opportunities.

(a) Earlier, I had mentioned our Dialogue with the US on Critical and Emerging Technologies. The topics include quantum science technology, as well as post quantum cryptography.

(b) Both countries have committed to continuing cooperation and exchanges, including through industry, research, and talent development.

20. We also invite industry partners to work with us to develop use cases and set standards.

(a) For example, one of our homegrown startups, SpeQtral, is looking to enable secure cross-border communication using Quantum Key Distribution (QKD) technology.

• It is piloting use cases both in Singapore and globally.

• We hope to see more of such innovation in our quantum ecosystem, which can have broader impact on sectors like healthcare, banking, and logistics.

(b) But realistically, for such use cases to flourish, we will need industry standards that build trust and interoperability.

• And this is why Singapore has committed to joint leadership of the first QKD protocol standard, working together with Japan under the auspices of the International Telecommunication Union.

• We welcome other partners to work with us on standards setting.

CONCLUSION: SINGAPORE WELCOMES COLLABORATIONS WITH INDUSTRY IN EVOLVING TECHNOLOGIES

21. In closing, I hope I have given you a glimpse of Singapore’s approach towards emerging technologies. In constantly evolving areas, we are always looking beyond the horizon, seeing what could benefit businesses and people, and building capabilities.

22. We do not have a mindset of “not invented here”. If the private sector can do some things better or has tools that work well, be it in AI, quantum, or other areas, we want to partner you.

23. I look forward to the engaging discussions during the conference and wish everyone a productive and enjoyable day ahead.

¹ Source: “DBS’ AI-powered digital transformation”, DBS, 7 Aug 2023.

2 Source: “Singtel launches Southeast Asia’s first nationwide quantum-safe network, ready for enterprise trials”, Singtel, 8 Aug 2024.