Artificial intelligence (“AI”) is advancing rapidly, transforming industries and societies. As a jurisdiction at the forefront of AI development, Singapore stands at the crossroads of this nascent but fast evolving sector, where the need for a thoughtful, robust regulatory framework is apparent. This article considers the risk based approach within Singapore’s regulatory landscape, exploring in detail the principle of accountability embedded therein. It goes on to posit the future direction of AI regulation and governance in Singapore, highlighting key considerations that must be taken into account in developing and refining any formal regulatory regime.