J.P. Morgan's Chief Economist Bruce Kasman stated that the technology sector in the Asia-Pacific region is experiencing growth driven by the semiconductor industry's boom. The global tech industry is facing challenges of high inflation and interest rates that weaken consumer spending. The tech sector may see moderate growth recovery in 2024. The semiconductor industry is closely linked to artificial intelligence, and the AI wave will drive overall growth in the tech sector. Companies like Nvidia and TSMC are benefiting from the AI frenzy. Singapore will invest over SGD 1 billion to enhance AI-related capabilities.