AI is shaping financial outcomes for Singaporeans

● Nearly nine in 10 Singaporeans use digital platforms, including AI-powered chat tools, to manage or seek information about their personal finances. 

● Almost one in five Singaporeans who use AI tools for financial purposes have made financial decisions based primarily on AI-generated advice. 

● Despite high digital adoption, trust gaps still exist, and human supervision and expertise remain crucial.

 
Singaporeans are increasingly using digital tools not only to manage their money, but also for AI-generated advice to guide their financial decisions, according to a recent survey by MDRT, an association of financial professionals. 

Nearly nine in 10 (89%) are using at least one platform, such as mobile banking apps, financial websites or AI-powered chat tools, to manage their finances or seek financial information. Among these users, more than a third of Singaporeans (35%) now use AI tools for financial purposes, from information gathering to real-world financial actions, signalling a growing shift towards AI-assisted financial management. 

Source: MDRT infographic. Singaporeans are using AI to build financial literacy and compare different products.

Of those who have acted on AI-generated advice or used it as a starting point, 60% say it has influenced their savings or budgeting habits:

- Almost half (47%) have used it when choosing or switching financial products, such as loans, credit cards or insurance plans

- Four in 10 say it has informed major financial decisions, including large investments or property purchases 

- Nearly one in five AI users (19%) even rely primarily on AI-generated advice when making financial decisions

“Singaporeans are increasingly comfortable using technology in their everyday lives. I’m seeing more people use AI to better understand financial concepts or prepare for financial conversations, which is helpful. 

"However, AI is only as effective as the information it receives. It may not identify gaps in our thinking or ask follow-up questions that uncover important aspects of our financial situation. The risk is that decisions made based on incomplete information or narrowly framed questions may overlook critical considerations,” said Laura Hoi, a 22-year MDRT member with six Court of the Table qualifications. Court of the Table is an accolade given to MDRT members who have achieved specific milestones. 

While AI tools are gaining traction, established digital platforms remain the most commonly-used among Singaporeans, led by banking websites and mobile apps (52%), government financial portals (43%) and financial comparison websites (30%). 

That said, 29% use generative AI chat tools such as OpenAI’s ChatGPT and Google’s Gemini, while 14% turn to AI-powered chatbots offered by banks or financial institutions. They mainly do so to better understand financial concepts such as mortgages, investing and taxes (54%), as well as to compare financial products such as loans, credit cards and insurance (51%). 

The appeal lies largely in convenience (57%) and cost accessibility (52%), alongside the ability to simplify complex information (40%) and the freedom to ask follow-up questions (37%), MDRT said. 

Usage patterns reflected different levels of engagement with emerging digital tools across generations. Millennials and Gen Z are more likely to use AI to actively manage their finances, including budgeting and financial planning, while Gen X and baby boomers tend to use it primarily as a source of information. 

Despite AI's growing role in personal finance, most Singaporeans (81%) remain measured in how they use these tools, turning to them primarily to build knowledge and explore options rather than replace professional advice. Among those who have not acted or would not act on AI-generated advice (36%), the top concerns were the lack of human oversight or reassurance (45%), the fear of bias or errors (36%), and the risk of generic or automated responses (36%). 

Only 37% of Singaporeans who use AI tools are comfortable using them for personalised financial advice, and just 31% would use AI to review long-term financial plans, suggesting a strong preference for human guidance in financial decision-making. Those who currently work with a financial advisor show a similar preference, indicating that AI is seen more as a complement, rather than a replacement, to the client-advisor relationship. 

Face-to-face interaction is still highly valued. While digital communication is now widely accepted, around four in 10 Singaporeans who work with financial advisors still prefer meeting in person, particularly when discussing complex financial topics (42%), making important financial decisions (41%) or reviewing long-term financial plans (38%). 

In-person engagement becomes even more crucial during periods of market volatility or financial uncertainty, with half (50%) favouring face-to-face meetings with their advisors, highlighting the enduring importance of personal guidance and reassurance that direct human interaction provides when navigating critical financial decisions.

“AI can provide answers based on a snapshot of information, but financial planning goes beyond that. It’s about knowing the questions to ask, understanding each individual’s unique circumstances, and helping clients adapt their financial plans as their lives and goals evolve. 

"I believe the future is about combining the speed and accessibility of AI with the empathy, judgment, and long-term perspective that only trusted human relationships can provide to help people make more informed and confident financial decisions,” said Hoi.

*The survey was conducted online by market research and insights agency Opinium between April 6 and April 9, 2026. The Singaporean survey was fielded in English among a sample of 2,000 Singaporean adults, weighted to be nationally representative based on age, race and gender.

Using Tableau visualisations in real-time to start a conversation

Murphy shows how 'before Tableau' contrasts with 'after Tableau'. He discovered Tableau in 2010.

In a presentation called Don't Fear the Data, Google's Head of TV Attribution (APAC), David Murphy says that large datasets are easy to work with if you have the right tools. Speaking at the Tableau on Tour conference in Singapore, Murphy said that his life can easily be divided into 'Before Tableau' and 'After Tableau'.

Before he discovered Tableau's visualisation software, he used spreadsheets to create charts, and did not look forward to making changes as it was complex and time-consuming even to make minor changes to the chart. If different versions of the chart had to be made for different teams, a change meant updating all the different versions, with the risk of human error occurring along the way.

The software was also slow, and tended to break down, he added. Questions had to be predetermined. "You need to know what you need to pull out from the data before you can do something with it," Murphy explained.

"It turns people off big data - you come up with lots of reasons why you won't do it rather than saying 'let's do it'," he said.

The Tableau epiphany for Murphy occurred in 2010, he said. He found that he could create charts "twice as fast, or better". "It freed me up to do more cool things, there was more time for me to analyse and bring insights, rather than being a data monkey and doing manual tasks," he said. "I solved problems more easily. (Tableau) greatly reduced the concept-to-implementation gap."

With Tableau, there was no need to worry about breaking equations and cell references, as can happen in spreadsheet software, he said. "There is no need to lock in design. You can rapidly iterate, get more responsive to the needs of the business and to the needs of the users...get much faster insights," he said.

Instead of having a customer or manager ask a question and returning in a week with the charts that answered the question, Tableau allows real-time changes to the data, maintaining the momentum there and then. "I can have a conversation with the data there and then, with the stakeholders who want to know," he said.

Instead of predetermined questions, Tableau has freed Murphy to play around with the data at his disposal, he added. "If you think it, you can do it," he said, with trivial questions potentially leading to something useful.
   

Using Tableau for data visualisation has replaced spreadsheets.

At Google, Murphy uses Tableau to show the relationships between broadcast advertisement airings and online engagement. "Previously you would have had to (show the customer) a .csv file with 12 dimensions and eight measures," he said.

He noted that while each customer's needs are unique, he can now address them in real-time. "You can be really responsive. You don't have to know everything before you go in; you can learn together with customers," he said. "It shows that we care and we keep to the heart of things which I couldn't really do with spreadsheet solutions, and (that) would have taken months to do."

Murphy has also set up a personal site, Datasaurus-Rex, which features visualisations created with Tableau. Among his projects are a dog year calculator, connecting dengue fever cases with mosquito breeding habitats, through crowdsourced insights. "It makes things accessible to people," he said. "I can dive into unknown datasets with ease, and empower others to understand data."

Interested?

Check out Murphy's visualisations on the Datasaurus-Rex site
View visualisations made with Tableau Public
Get a free trial of Tableau

Read the TechTrade Asia blog posts on building a Smart Nation and why visualisations matter

Hashtags: #data16, #datasaurusrex

Altec Lansing launches ruggedised mobile accessories at CES

Altec Lansing has announced new collections of "everything-proof" chargers, power banks, cables and cases for smartphones and tablets which are designed to withstand wear and tear as well as less-than-hospitable conditions. Scheduled for roughly Q216 release, the new accessories will provide ruggedised features such as IP67-rated, military-grade construction to ensure reliable waterproof, dustproof and shock-resistant operation and device protection.

The new products will include:

Altec Lansing Everything Proof 3,000, 6,000 and 10,000 mAh Power Packs for smartphones, tablets and MP3 players, providing up to 100 hours of talk time, 75 hours of music, 50 hours of video and 4.5 full charges depending on the model. All three will be IP67-rated for waterproof protection even in three feet of water for up to 30 minutes; sealed from dirt, dust and sand; designed to float to prevent loss if they accidentally go overboard; and come pre-charged and ready to use out of the box. Each will incorporate a carabiner for on-the-go attachment to belts, backpacks and other equipment. (Manufacturers' suggested retail pricing [MSRP] US$29.99, US$39.99 and US$69.99)

Altec Lansing 3.4 Amp Dual USB Rapid Car Charger, a quick-charge unit that will charge two devices simultaneously. Protective silicon seals over both USB ports defend the charger against moisture, dirt and other materials. Supports iPhone and Android smartphones and tablets. (MSRP US$19.99) 

Altec Lansing 3.4 Amp Dual USB Rapid Wall Charger, offering the same rugged construction, two-device charging ability and durability as the car charger. (MSRP US$19.99)

Altec Lansing Shock-Proof Lightning Cable, a 3' braided, tangle-proof cable with extra layers of protection including a spring coil that provides strain relief to prevent fraying and breakage at the tip. Other protections include dustproof construction and silicon tips for additional breakage resistance. Compatible with iPhone 6/6s, iPhone 6 Plus/6s Plus, iPhone 5/5S/5C, iPod Touch 5th Generation, iPad 4th Generation and iPad Air. (MSRP US$19.99)

Altec Lansing Shock-Proof Micro Cable, featuring the same 3' braided, extra-durable construction as the Lightning cable. Compatible with Android, BlackBerry and Samsung smartphones and micro USB devices. (MSRP US$14.99)

Altec Lansing Everything Proof Smartphone Cases built to provide maximum protection for iPhone 6/6S and Galaxy S5/S6 smartphones. Features range from 5' drop protection, 360-degree impact protection and dirt-proofing to IP67-rated waterproofing, depending on the model. (MSRP US$29.99 and up)

Interested?

Read the WorkSmart Asia blog post about Altec Lansing's new earbuds at CES.

Hashtag: #CES2016

Targus launches T-1211 collection of laptop and tablet cases

Laptop case and accessories maker Targus has launced its T-1211 collection of laptop and tablet cases that are travel-ready for work and the everyday commute. 

The T-1211 cases are designed with a minimalist look, reinforced by a subtle outer crisscross design. All members of the family are equipped with water-resistant exteriors and non-scratch interior linings. 

The T-1211 13.3”-
17” Backpack. 

The T-1211 13.3”-17” Backpack features a variety of storage options that allow for maximum capacity without the bulk. The side-handle, two-way shoulder strap, extra-thick padding, sternum strap and carry handle provide multiple carry options and various levels of comfort. The backpack also has a trolley strap for added convenience and portability.

Made of polyester, the laptop pocket is designed to accommodate and custom fit multiple device sizes, using a built-in adjustable compression strap. The fit is secure for 13.3", 15.6” or 17" laptops.

There are also front stash pockets for convenient storage of tablet or accessories, a dedicated phone pocket with pull tab ejector, a dedicated hidden file compartment, a side mesh pocket for water bottles and a removable and adjustable accessory pouch. 

The case has a water-resistant base and seam-sealed zippers, and comes in two colour options, black and grey at an SRP of S$99.

The T-1211 15.6" Backpack features one main compartment and an exterior front pocket that fits a tablet. Just as with the T-1211 13”-17” backpack, this backpack sports front stash pockets for convenient storage of tablet or accessories, a dedicated phone pocket with pull tab ejector, a side mesh pocket for water bottle and a removable and adjustable accessory pouch. The backpack comes in black and grey at an SRP of S$89.

The Tote Bag.

The T-1211 Tote Bag is designed for travel. The front hidden stash pocket fits a tablet and the interior detachable pouch allows maximum storage, attached to or detached from a D-ring. Other features of the bag include a key holder, a lined handle, and a removable shoulder strap for more carrying options. The Tote Bag is available in black at has a suggested retail price of S$69.

The Targus Topload in grey.

The T-1211 15.6” Topload provides several dedicated storage options, including two stash pockets. The Topload is thin and lightweight and can easily be carried over the shoulder, using the adjustable and removable padded shoulder strap. The bag can also be placed on a trolley using the trolley strap for more convenience. The comfortable soft-wrapped handles can be clipped together when not in use. The Topload is available in black and grey for an SRP of S$89.

Slimmer than the T-1211 Topload, but larger than a slipcase, the T-1211 Slim Case offers the roominess of the Topload minus the bulk. The weather flap cover protects the main compartment against the elements, while the weather-resistant protective base protects the case itself. The weather flap cover is equipped with a snap button. The bag also features two easily accessible quick stash pockets. 

The T-1211 Slim Case can easily be carried over the shoulder, using the adjustable and removable padded shoulder strap. The bag can also be placed on a trolley using the trolley strap for more convenience. The comfortable soft-wrapped handles can be clipped together when not in use. Black and grey models of the T-1211 15.6" Slim Case are available for an SRP of S$69.

Both the T-1211 Slim Case and the T-1211 Topload have a unique Deluxe Workstation feature. The Workstation is a slim organising compartment designed to keep gadgets and accessories neat and compact in the bags while maintaining the slim size.

The T-1211 Vertical Sleeve is meant for accessories, combining vertical loading in the dedicated laptop compartment and horizontal access to the front stash pocket. The silhouette allows the case to be inserted easily into a larger bag. The T-1211 Vertical Sleeve is available in 14” (SRP S$35), 13.3" (SRP S$33) and 12.1" (SRP S$32) models in grey. Black versions are only available for the 13.3" model.  

Tablets can be securely stored in the vertical loading compartment of the T-1211 Universal Tablet Sleeve, which has a magnetic closure. For added convenience, the case also has a unique pull tab that ejects the device from the sleeve.

The 10” Universal Tablet Sleeve, as befits its name, accommodates the iPad 2, 3, 4; Air; Galaxy Tab 2, 3; Google Nexus 10”; Toshiba Excite; Asus 10”; and Acer Iconia 10. Additionally, the 8” Universal Tablet Sleeve fits the iPad mini, Galaxy Tab 2 and 3, Galaxy Note 8.0, Kindle Fire HD and HDX, Google Nexus 7”, Nook HD and Acer Iconia A110. Both sizes are offered in black, with the 10” version at an SRP of S$32 and the 8” version at S$30.

*All images from Targus.