Singapore will invest 48 million Singapore dollars (37.26 million U.S. dollars) over the next four years to help media companies develop digital content and adopt artificial intelligence (AI) tools, as audience consumption increasingly shifts to online platforms, a government agency announced Thursday.
The new Digital Content and Capability Development program, launched by the Infocomm Media Development Authority (IMDA), will support media professionals and companies in producing content for digital and mobile-first formats while building capabilities in emerging technologies, including AI-generated content and AI-assisted production workflows, IMDA said in a statement.
According to IMDA, 87 percent of Singapore residents aged 15 and above now access major social media video platforms such as TikTok, Instagram, YouTube and Facebook every week. Short-form videos, micro dramas and AI-assisted content production are becoming increasingly popular.
IMDA said it is committed to supporting Singapore’s media ecosystem in developing new digital content formats and building digital capabilities to remain innovative and competitive.
