In his opening remarks at an event, Senior Minister of State Tan Kiat How noted that Singapore has long been a pioneer in embracing technology. From the early days of national computerisation, the country has consistently leveraged technology to thrive. With a small domestic market and limited natural resources, innovation has been key to relevance and success. Investments in technology have paid off, with the digital economy now contributing about 70% to GDP, outpacing other sectors.
Singapore embarked on its tech journey early, initiating a national computerisation programme when computers were less ubiquitous. Despite their limited power compared to today’s devices, Singapore saw the potential of technology to spur growth and overcome challenges like a small domestic market and scarce natural resources.
The strategic focus has led to remarkable outcomes with its digital economy now substantially contributing to its GDP, growing steadily and surpassing other industries. This highlights the necessity of ongoing tech investment to sustain and amplify this progress. With the rise of AI, generative AI, and other emerging technologies, the potential for further advancement is considerable, offering avenues for accelerated innovation and transformation.
Looking ahead, the opportunities are immense, with AI and other emerging technologies poised to accelerate change and innovation. To harness these advancements, continuous investment in core capabilities is essential: enterprises and people. Small and medium enterprises (SMEs), the backbone of the economy, are central to this strategy. Plans are being updated to guide their progress, stressing the importance of taking initial steps, refining strategies, and fostering innovation through partnerships.
Last year, the Digital Connectivity Blueprint and the refreshed National AI Strategy were launched, setting the stage for a digitally connected, AI-driven economy. This month, the Digital Enterprise Blueprint (DEB) will further digitalise the economy, focusing on four key areas: helping enterprises leverage AI and other technologies; enabling faster scaling through interoperable solutions and cloud-native architectures; enhancing cybersecurity; and creating more jobs and opportunities for tech professionals.
The DEB’s first focus is helping enterprises become smarter by using emerging technologies like AI and generative AI to boost productivity and competitiveness. The second focus is enabling enterprises to scale faster by supporting SMEs in adopting interoperable solutions, especially cloud-native architectures, to overcome legacy system challenges and seize opportunities quickly.
The third focus area is enhancing cybersecurity. With increasing digitalisation, enterprises are more vulnerable to cyber threats. Statistics from the Cybersecurity Agency indicate that many enterprises, including SMEs, have encountered cybersecurity incidents. It is crucial to prevent cyber attacks from crippling business operations. The DEB emphasises the importance of robust cybersecurity measures to protect digital assets and ensure business continuity.
The fourth area focuses on creating more jobs and opportunities for tech professionals. Despite having about 210,000 tech professionals, there are still around 10,000 vacancies. Supporting reskilling and upskilling in emerging technologies like cloud computing, software engineering, and AI is vital for maintaining a competitive edge. Industry partners aim to upskill approximately 18,000 tech professionals over the next three years.
Partnerships with technology providers are empowering SMEs with AI solutions. The SMEs Go Digital programme aims to make all pre-approved digital solutions AI-enabled, benefiting 90,000 SMEs. The Gen AI for Digital Leaders Programme offers bespoke support and IMDA funding for more advanced enterprises. Additionally, there is a commitment to reskill and upskill 18,000 tech professionals in emerging technologies over the next three years.
The commitment to digitalisation extends across all industries, including traditional sectors like F&B. There is no such thing as a sunset industry, only a sunset mindset. Embracing digitalisation and leveraging the various programmes being rolled out will create impactful solutions that will elevate Singapore on the global stage.
Finally, the Ministry of Communications and Information (MCI) will soon be renamed the Ministry of Digital Development and Information (MDDI), reflecting ongoing and future focus. The aim is to create a brighter digital future for Singapore.
