Speaking at the Forbes Global CEO Conference, Prime Minister Lawrence Wong said, “No boom is forever. At some point there will be a correction.” He added that nobody knows when or how the correction will happen, or who will be affected.

Wong stressed that Singapore must use the current window of strong external demand to build new capabilities and create better jobs for Singaporeans before any slowdown hits.

The AI surge has already lifted Singapore’s semiconductor sector. Companies such as GlobalFoundries and Micron are producing memory and specialty chips that are in high demand, even though the country does not make the most advanced AI chips.

Beyond the chip makers, Singapore has developed a broader semiconductor ecosystem that includes precision‑engineering firms and equipment suppliers, helping to spread the benefits across related industries.

To guard against the risks of powerful AI, Singapore has introduced safety measures. The Monetary Authority of Singapore has issued guidelines for AI use in finance, and autonomous‑car trials – like Waymo’s pilot on local roads – are being closely monitored.

Wong said the government’s job‑protection strategy is not about keeping any single job, but about protecting every worker. This is achieved through long‑standing cooperation between the government, employers and unions.

By strengthening skills, diversifying industries and putting safety rules in place now, Singapore hopes to cushion any future AI correction and keep the economy resilient for ordinary citizens.