Why Singapore’s prime minister gave DBS and Grab a shout-out during the country’s budget speech

Singapore Prime Minister Lawrence Wong name-dropped two of the country’s largest companies during his budget address on Thursday, citing them as role models as the Southeast Asian country embraces artificial intelligence as a way to future-proof its economy. 

The country is setting up a new AI council, helmed by Wong himself, to oversee the development and execution of “national AI missions” in four key areas: advanced manufacturing, connectivity, finance and healthcare. 

“Harnessed well...