Singapore's digital innovation highest in Asia
Singapore is leading Asia when it comes to having the building blocks to ensure connected operations, according to according to a report from EIU, called “Connecting Capabilities”.
The report details what is thought to be the first ever Asian Digital Transformation Index - a ranking of 11 Asian based on performance over three key categories— digital infrastructure, human capital and industry connectedness.
Singapore’s top position in the ranking due to the presence of a well-developed digital infrastructure, backed up by government policies in support of development, technology uptake in business and entrepreneurship.
Recruiting adequate digital talent is a challenge in Singapore is a significant challenge – the country ranked fourth in terms of human capital. Identified areas improvement included building talent pools that display advanced digital skills and expanding data sharing across businesses.
“In the EIU survey, 87 percent of companies globally agreed digital transformation will be important to their organization over the next three years, but if your business lacks access to the necessary infrastructure, skills and ideas, then it would be difficult to take full advantage of the opportunities created by digital technology,” said Paul Tyler, Telstra’s Group Managing Director, International.
“In this regard, 55 percent of companies in Singapore say the country has been only ‘somewhat successful’ in providing an environment for digital transformation.”