Budget 2026: Companies to receive tax deductions on AI spending, more support to employ tools

Budget 2026: Companies to receive tax deductions on AI spending, more support to employ tools

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SINGAPORE – Businesses will soon receive tax deductions on spending on artificial intelligence (AI) tools, as part of a concerted push by the Government to encourage adoption of the technology. Under an expanded Enterprise Innovation Scheme, businesses can claim annual tax deductions of 400 per cent on qualifying AI expenses – capped at $50,000 per…

Gartner says worldwide AI spending will total $2.5tn in 2026, Digital Platforms and Services

Gartner says worldwide AI spending will total $2.5tn in 2026, Digital Platforms and Services

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AI infrastructure adds $401bn in AI spending as technology providers continue to build out AI foundations   Worldwide spending on AI is forecast to total $2.52 trillion in 2026, a 44% increase year-over-year, according to Gartner, Inc. a business and technology insights company. “AI adoption is fundamentally shaped by the readiness of…