Singapore leads the world in “AI FOMO” as businesses chase growth

SINGAPORE: Singapore’s business leaders are feeling the pressure—and it’s not just a little. According to a new study by Thoughtworks, 66% of executives in the city-state report “AI FOMO,” as companies rush to adopt artificial intelligence not merely for efficiency, but to drive growth and innovation.

The study, initiated by Censuswide late last year, polled 3,500 IT and C-suite decision-makers, together with 3,500 customers all over Singapore, the US, Brazil, Australia, UK, India, and Germany, India. Globally, 77% of business leaders say their AI strategies are now focused on growth rather than just cutting costs—and that figure jumps to 92% among larger companies.

In Singapore, nearly a quarter of leaders credit AI with increasing customer lifetime value. Yet the city-state is also grappling with its toughest challenge — talent.

The study also shows AI governance is maturing. Over half of surveyed companies now have a Chief AI Officer, and most of them hold both budget authority and accountability for return on investment.

Despite the hype, executives are clear: AI isn’t replacing humans—it’s augmenting them. Eighty-four percent of leaders say AI helps their teams work smarter, and 22% report entirely new career paths emerging thanks to AI.

For Singapore, the picture is both exciting and nerve-wracking. High anxiety, talent gaps, and aggressive growth targets make the city-state a cautionary tale—and a proving ground—for what the AI-powered future might look like.