Singapore – UOB has launched ‘AI Ready 2.0‘, the next phase of its AI programme for small and medium-sized enterprises (SMEs), after the initial programme engaged more than 600 businesses, according to the bank.
Announced in Singapore on 28 September 2026, the programme is led by UOB FinLab, the bank’s strategic community enabler for SMEs. It was developed in partnership with the Infocomm Media Development Authority (IMDA).
The enhanced programme aims to help SMEs accelerate AI adoption and scale implementation across their operations, UOB said.
The original AI Ready Programme launched in July 2025. Since then, UOB says it has held more than 10 workshops covering AI awareness, use-case identification, implementation planning and executive leadership.
The programme has also conducted more than 50 personalised AI discovery engagements and facilitated more than 800 connections between SMEs, technology providers and industry experts, the bank reported.
However, awareness has not always translated into deployment. UOB says many SMEs still struggle to move from exploration to implementation because of limited resources, expertise and access to suitable solutions.
To address this gap, ‘AI Ready 2.0’ offers end-to-end support across capability development, prototyping, financing and implementation, according to the bank.
The upgrade introduces three enhancements. The first is enhanced financing support, which UOB says allows technology vendors to accelerate the delivery of AI solutions while SMEs gain resources to develop, deploy and scale AI-driven innovations, strengthen capabilities and upgrade technology infrastructure.
The second is a series of AI prototyping workshops, developed with ecosystem partners. These hands-on sessions will help SMEs identify AI opportunities, validate use cases and build prototypes that can be refined and scaled for real-world use.
The third is the UOB AI Ready Community Support, a new peer-led community. It connects SMEs with technology experts, AI practitioners and fellow SME AI champions who have already adopted AI, offering practical advice on adoption, implementation and scaling.
Explaining the rationale, Janet Young, Head of Group Channels and Digitalisation at UOB, said, “AI is no longer a future opportunity. It is becoming a business imperative. While many SMEs recognise its potential, translating interest into tangible business outcomes remains a challenge.”
She added, “AI Ready 2.0 is designed to close this gap by bringing together capability building, expert guidance, ecosystem partnerships and financing support. The goal is to help SMEs move beyond experimentation and implement AI solutions that improve productivity, strengthen competitiveness and create long-term business value.”
Young continued, “Through our partnership with IMDA and ecosystem partners, UOB is making it easier for businesses to access the expertise, resources and support they need to adopt AI with confidence and at scale.”
Turning to results, UOB says participating SMEs have applied AI across customer acquisition, operational efficiency, compliance and quality assurance. Early outcomes include up to a 125% increase in lead generation through AI-powered customer acquisition tools and up to a 30% reduction in tender preparation time.
Notably, the bank clarified that both figures are representative of Singapore only and exclude regional markets.
In addition, UOB reports that documentation review processes have been cut from hours to minutes. Participants have also improved operational accuracy through AI-enabled validation workflows, it said.
Three Singapore firms illustrate these outcomes, according to the bank. Krislite Pte Ltd prioritised the development of a Tender AI Agent through UOB FinLab’s proof-of-concept programme, which is expected to augment its in-house initiatives and reduce tender preparation time by up to 30%.
Meanwhile, Events Partner Pte Ltd, which operates with a lean team, developed an AI-powered lead generation platform and prospecting solution. UOB says the tool more than doubled its monthly targeted outreach from approximately 30–40 prospects to 80–100.
Events Partner is now progressively expanding AI adoption across multiple business functions, the bank added.
Separately, Seng Heng Engineering Pte Ltd built an AI prototype to automate quality assurance documentation review and compliance validation. UOB expects the solution to reduce review time from hours to minutes, lower document error rates to below 2%, improve compliance traceability and deliver up to S$350,000 in cost savings over three years.
Looking ahead, UOB aims to grow participation from 600 SMEs in Year 1 to 3,000 SMEs by Year 3. It expects the operating model to mature and ecosystem partnerships to deepen along the way.
UOB FinLab, established in 2015, says it has built a network of 40,000 professionals across ASEAN. The network includes private and public companies, institutes of higher learning and industry experts.
