HSBC: 65% of Singapore Entrepreneurs Adopt AI, Outpace Peers
High-net-worth entrepreneurs in Singapore are more proactive in adapting operations for artificial intelligence than global counterparts, with 61% planning significant investments in AI over the next year.
Singapore Leads AI Adoption
Sixty-five percent of high-net-worth entrepreneurs in Singapore have already modified their business operations to prepare for artificial intelligence (AI) impacts, according to HSBC Private Bank's Global Entrepreneurial Wealth Report 2026. This figure surpasses the global average of 60 percent.
The research, conducted by Ipsos for HSBC, surveyed 3,085 business owners across 17 markets, each holding at least USD2 million in investable assets. Among these, 1,101 possessed a net worth exceeding USD100 million.
Significant Investment and Headcount Shifts
Singaporean entrepreneurs demonstrate strong commitment to AI, with 61 percent intending to allocate between 11 percent and 30 percent of their annual turnover to AI investments over the next 12 months, the HSBC Private Bank report shows. The integration of AI is also expected to influence staffing.
Fifty-six percent of Singaporean business owners anticipate an increase in headcount over the next two years, notably higher than the 44 percent globally expecting growth, while only 14 percent foresee a reduction.
Profit Expectations and Adoption Concerns
Nearly half of Singaporean entrepreneurs, 49 percent, believe AI can enhance profit margins, compared with 39 percent globally, the research found. Despite this optimism, concerns regarding AI adoption persist.
Forty-nine percent of Singapore entrepreneurs worry about potential employee resistance due to job loss fears, and 45 percent are concerned about the costs associated with implementation. Furthermore, 31 percent of Singaporean respondents expressed a "great deal" of trust in AI for investment management, against a global average of 38 percent.
Strategic Business Decisions for Wealth
Tommy Leung, HSBC's Head of Private Bank for South Asia, noted that Singaporean entrepreneurs are actively moving AI from conceptual discussion to practical execution. For the bank's entrepreneurial clients, these are strategic business decisions with long-term implications for their wealth creation.
This proactive stance suggests that businesses operating in Singapore are prioritising technological adaptation, potentially influencing capital allocation and operational models across various sectors in the region as they seek to capitalise on AI-driven efficiencies and growth.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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