Salesforce invests more than 1.3 billion yuan in Singapore in five years

Global cloud software giant Salesforce announced on Wednesday (March 12) that it will invest US$1 billion (about S$1.331 million) in Singapore within five years to promote Singapore's digital transformation and artificial intelligence development.

The Global Customer Relations Management (CRM) said in a statement that Singapore is an important growth market for Salesforce, and more and more companies are using its artificial intelligence product, Agentforce, to discover new opportunities. This investment also highlights Salesforce's support for Singapore's national artificial intelligence strategy 2.0 and its commitment to helping Singapore become a global AI innovation-driven hub.

Agentforce is Salesforce's flagship artificial intelligence product that can help enterprises create and deploy AI-powered intelligent agents (agents).

Salesforce said Singapore is under pressure to shortages due to aging and a decline in birth rates in the face of the challenge of slowing labor growth. Agentforce provides Singapore with the opportunity to rapidly expand its workforce, especially in key services and public sector positions.

Singapore’s Economic Development Bureau (EDB) Director Li Jiaming said Singapore welcomes Salesforce’s investment. “This will promote our continued construction of a vibrant AI innovation and application center that will help economic development. Salesforce’s initiatives in AI research and workforce development will also promote the development of local ecosystems and promote innovation in key industries and enterprises in Singapore.”