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The Business Times Budget Roundtable 2025 focused on the digital transformation of SMEs, highlighting the importance of government initiatives, change management, and AI solutions. Key speakers included Beatrice Liu from Oriental Remedies Group and Koren Wines from Xero Asia, who discussed the challenges and opportunities SMEs face in adopting digital tools. The discussion emphasized the need for a collaborative ecosystem involving small companies, the private sector, and the public sector to drive meaningful change.
The panel also addressed the significance of upskilling employees and the role of AI in enhancing business operations. As AI becomes more accessible, SMEs are encouraged to adopt AI technologies responsibly and ethically, ensuring alignment with their business goals. The conversation underscored the potential of AI to improve efficiency and productivity, which are crucial for the survival and growth of SMEs.
• AI is essential for SMEs to enhance efficiency and productivity.
• Singapore's government supports AI adoption through frameworks and initiatives.
The AI Governance Framework guides businesses on responsible AI deployment, ensuring ethical practices.
Agentic AI refers to proactive systems that make decisions to achieve specified outcomes.
Generative AI creates content or solutions based on input data, becoming essential for business operations.
Oriental Remedies Group focuses on integrating digitalisation into its operations to enhance business efficiency.
Xero Asia provides cloud-based accounting solutions that help SMEs improve financial visibility and decision-making.
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