DBS announced on April 24 the expansion of its Spark GenAI program, developed in partnership with Enterprise Singapore and the Infocomm Media Development Authority (IMDA), to support local small and medium-sized enterprises (SMEs) in adopting artificial intelligence. The program uses a three-tier model designed to match different levels of AI readiness among participating firms.
Program Structure and Support
The Spark GenAI program includes three tracks: Start, Accelerate, and Scale. Each tier provides advisory and training support, access to IMDA workshops, and EnterpriseSG grants that cover up to 50% of eligible costs for approved AI tools.
AI Adoption Guidance
DBS released an AI implementation guide titled “Implementing AI for Impact” following a company survey of 730 firms. According to the survey, 39% of respondents indicated they wanted expert advice on how to use AI effectively.
The program targets a specific gap in SME AI adoption. While many Singapore SMEs have adopted digital banking and are exploring tools such as data analytics and generative AI, barriers remain, including software costs, crowded tooling options, and limited in-house technical expertise. The tiered advisory model is designed to help firms navigate these challenges and select tools suited to their specific needs.
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