SINGAPORE - Singapore has launched new partnerships with three companies -- Alibaba Cloud, ST Engineering, and Prudential Singapore -- to accelerate digital development among enterprises, with a strong emphasis on artificial intelligence (AI).

Speaking at the "Asia Tech x Singapore" conference on Tuesday, Senior Minister of State for Digital Development and Information Tan Kiat How said the digital economy now contributes nearly 18 percent of Singapore's GDP. "Despite the global uncertainty, we expect technology, especially AI, to continue to drive quality economic growth," he said.

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While the government has introduced multiple digitalization initiatives, Tan said strong partnerships with industry stakeholders are needed.

As part of the new collaborations, Alibaba Cloud will work to enhance the digital capabilities of up to 3,000 small and medium-sized enterprises (SMEs) and digital solution providers, focusing on cloud technologies and AI.

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ST Engineering will launch a program to equip SMEs with the knowledge and tools to identify cyber risks and strengthen their cybersecurity posture.

Meanwhile, Prudential Singapore will support SMEs by providing hands-on experience and training in the implementation of generative AI solutions.