Singapore to Train Employees Over 40 Years with AI Education

• Blockchain Council
• September 12, 2024

In a visionary move aimed at reshaping the landscape of employment and fostering a resilient workforce, Singapore’s Budget 2024 has unveiled groundbreaking initiatives to upskill and reskill employees, particularly those aged 40 and above, through cutting-edge AI education.

Deputy Prime Minister Lawrence Wong, also Singapore’s Finance Minister, revealed the nation’s strategic focus on nurturing talent and ensuring workforce competitiveness. Among the key highlights is the overhaul of the existing SkillsFuture program, introducing the innovative SkillsFuture Level-Up Programme tailored to support mid-career employees.

Singaporeans aged 40 and above will receive a substantial SG$4,000 SkillsFuture credit top-up in May, earmarked for selected training programs spanning part-time and full-time diplomas, post-diplomas, undergraduate courses, and sectors aligned with the Progressive Wage Model.

Pannie Sia, General Manager, ASEAN, Workday, lauded these initiatives as timely and essential, emphasizing the pivotal role of digital skills in navigating the evolving technological landscape. She underscored the significance of fostering a skills-based economy, necessitating substantial investments in AI and machine learning within training programs.

Wong’s commitment to inject over SG$11 billion into national R&D efforts, including AI, finance, and clean energy sectors, reflects Singapore’s dedication to harnessing AI’s transformative potential. Sia believes this move will not only amplify innovation capabilities but also position Singapore as a magnet for top-tier talent and cutting-edge ideas.

The SkillsFuture Level-Up Programme is set to revolutionize the educational landscape, making it more accessible and affordable for mid-career learners. Under the scheme, those pursuing part-time diplomas at polytechnics will pay a nominal fee after utilizing the SkillsFuture credit top-up, significantly easing financial burdens.

Dr. Christy Chung, director of Ngee Ann Polytechnic’s Continuing Education and Training Academy, hailed the initiative as a game-changer, enabling learners to offset program costs effectively. The financial support extends to learners pursuing a second full-time diploma, underscoring Singapore’s commitment to lifelong learning.

Furthermore, the introduction of subsidies for full-time diploma programs and monthly training allowances reflects Singapore’s holistic approach to workforce development. These measures aim to bridge skill gaps, empower mid-career professionals, and facilitate seamless transition into emerging industries.

Employers and industry leaders have welcomed these initiatives, emphasizing the importance of aligning course offerings with industry needs. Mr. Ang Yuit, president of the Association of Small and Medium Enterprises, stressed the significance of practical skills and industry relevance in training programs, urging learners to prioritize soft and hard skills essential for staying competitive.

Similarly, Mr. Lennon Tan, president of the Singapore Manufacturing Federation, highlighted the demand for courses emphasizing AI, data analytics, and sustainability in manufacturing contexts. He emphasized the need for mid-career professionals to enhance their AI quotient in line with Industry 5.0 trends.

SkillsFuture Singapore’s report on top job skills underscores the critical need for digital talent, signaling opportunities and challenges for small and medium-sized enterprises. Dr. Chung noted a surge in enrollments in AI-related programs, reflecting learners’ growing interest in emerging technologies and career advancement opportunities.

As Singapore charts its course towards a knowledge-based economy, these transformative initiatives underscore the government’s commitment to empowering its workforce. By investing in AI education and upskilling initiatives, Singapore is not only future-proofing its economy but also nurturing a talent pool capable of driving innovation and sustainable growth.