Rise of robots could double Singapore's growth rate

SINGAPORE (July 25): The rise of the machines is coming.

In technology-proficient Singapore, their integration into the economy could help the domestic growth rate to almost double and significantly lift labor productivity, according to a report by consultancy Accenture.

It found that artificial intelligence, once fully adopted, might lift Singapore’s annual growth rate to 5.4% in 18 years. That would be the largest increase among 33 countries studied and would translate into an additional US$215 billion ($293 billion)  in gross value added. Without AI, the economy is predicted to expand 3.2%.

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