Transparently.AI CEO Hamish Macalister
Last week, the Singapore government launched the updated National Artificial Intelligence Strategy (NAIS) 2.0, which lays out how the city-state plans to harness AI for the public good over the next three to five years. As part of this plan, Singapore aims to more than triple the number of AI practitioners here to 15,000 and establish an iconic site to nurture its AI community.
We spoke with Hamish Macalister, CEO of Transparently.AI, a solution for the early detection of accounting manipulation and fraud, to learn more about how NAIS 2.0 will transform the AI landscape in the city-state.
Below are the edited excerpts from the interview:
How do you view the Singapore government’s plans to redesign and scale up the AI Apprenticeship Programme to grow the AI talent pool in Singapore, and what role do you think the industry should play in this initiative?
We’ve previously identified talent as one of the challenges we might face, so this announcement is a huge positive for us and any other AI company in Singapore. The industry could play a role in helping identify specifically deficient areas, whether in skill or supply, that the government could support. A targeted approach, informed by those closest to the problem, is better regarding overall outcomes and resource allocation.
With the government aiming to attract global AI talent, how do you see establishing a dedicated team to engage world-class AI creators impacting the local ecosystem? What opportunities and challenges do you anticipate?
We think that bringing world-class AI talent into Singapore can substantially enrich the city’s AI industry, not just merely by their productive presence and involvement in national projects but also by the learnings they will be able to impart.
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The challenge will be to ensure that homegrown talent is not overlooked in this endeavour. We support a system that benefits individuals on merit, not just because they’ve worked at Google Deepmind or OpenAI.
The government plans to intensify AI adoption across enterprises, focusing on manufacturing, financial services, transport, and logistics sectors. How do you envision AI transforming these industries, and what role can companies like yours play in this transformation?
These are all data-rich industries with systems that are most likely to benefit from efficiencies created by machine learning (ML). ML enables the creation of systems that can detect and instantly identify signals across millions of data points to prompt expedient opportunistic, ameliorative or punitive human action.
AI allows analysis that usually takes humans months to be conducted in seconds. Our tech is right in this space. The Transparently.AI system is trained to detect accounting fraud and manipulation. We play a role in introducing mass efficiency and speed into forensic analysis. Anyone needing due diligence — from banks and asset managers to auditors and accountants — can benefit from our technology.
NAIS 2.0 represents a shift from flagship projects to a systems approach. In your opinion, how does this shift affect the AI landscape in Singapore, and what are the key challenges and opportunities it presents for AI companies?
This is a landmark shift. The government seeks to elevate AI in the national consciousness to a necessity rather than a “nice to have.” So, if you’re a Singaporean, AI is coming to your living room and workplace. The message here is clear: Be prepared and educate yourself so you’re not left behind.
The biggest challenge will be adoption. The automatic reaction will be fear: Is my job safe from the robots? That’s natural because AI applications can and do change the nature of some jobs.
In his speech on the NAIS announcement day, Singapore’s Deputy Prime Minister, Lawrence Wong, addressed the concern about a jobless future. He said the government is ready to invest heavily in adult education and training to reskill and upskill workers to harness AI effectively.
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The government needs to pursue this agenda aggressively. The government and industry must do everything possible to win Singaporeans’ buy-in.
Is it worthwhile? Of course. Think of the efficiencies that an AI-powered workforce can generate. How much time and cost savings will it generate? There is potential for AI to level up economic output significantly. But we need to bring all Singaporeans along to enjoy the benefits.
The Deputy PM acknowledged the risks of AI, including deepfakes, scams, and cyberattacks. How should companies address these challenges, and what measures can be taken to ensure responsible AI development and deployment?
Bad actors will always seek to exploit new technologies for nefarious purposes. The enormous challenge for regulators will be keeping up with the pace of change. The open-source community is innovating at a pace that the largest technology firms struggle to keep up with.
For governments, this will prove to be an enormous challenge. Some regulation will be required. But this must be crafted extremely carefully to prevent the stifling of innovation. Regulators must work closely with industry to ensure the right balance is achieved.
Given the decentralised nature of AI, what are your thoughts on the government’s idea that governance for AI should ideally be global? How can Singapore contribute to global AI governance, and what challenges might arise in achieving international collaboration?
The technology is available globally. Hence, the concept of global regulation has logic. This won’t be easy to achieve. It is hard to foresee universal acceptance of those regulations.
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However, the government is proposing more than one system of overarching rules for the world. That would go against its “fit-for-purpose” philosophy. It aims to unite countries to shape the architecture for responsible AI growth.
The Deputy PM said the ideal is “enhanced interoperability between governance frameworks.” Our read is that the government is endorsing an architecture that pushes countries in the same direction but allows them the latitude to apply that framework in a local context.
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