SGTech, Singapore’s leading tech trade association, has launched several initiatives and projects during its annual Global Future Series 2023, to advance the culture of innovation within the tech ecosystem and affirm Singapore as the Global Digital and Data node built on trust.
This year’s Global Future Series builds upon the association’s core focus on Digital Trust, which they define as “the confidence participants have in the digital ecosystem to interact securely, in a transparent, accountable, and frictionless manner.” Centred on the theme “Tech and Trust: Achieving Sustainability in the Digital Age,” the event features a panel of experts of prominent association members like Microsoft, Thoughtworks, Mastercard, Meta, and more.
Establishing the Digital Trust Centre of Excellence Advisory
In collaboration with the APEC Business Advisory Council (ABAC), SGTech announced the formation of the SGTech Digital Trust Centre of Excellence Advisory, building upon the establishment of the Digital Trust Centre of Excellence (DT COE) in 2022.
This Advisory brings together influential global business leaders, thinkers, and luminaries, who will drive the Digital Trust discourse and explore cutting-edge topics in the tech space. This is set to anchor Singapore’s role as a digital node founded on data and trust to promote a secure and trustworthy digital environment at the regional and international levels, driving innovation and attracting investments in the digital economy.
It will also function as a sounding board for ABAC’s digital and innovation agenda, offering insights on regional priorities and recommendations to be presented to APEC Leaders and Ministers on an annual basis.
The Advisory is composed of industry leaders from companies and organisations like The World Bank, Crimson Logic, Microsoft, Thoughtworks, Easy Crypto Global, Oracle, Mastercard, amongst others.
It will be led by Mr Wong Wai Meng, currently the Chairperson of SGTech, and CEO of Keppel Data Centres. Wai Meng will be supported by Co-Chair, Ms Jan De Silva, who currently is the Chairperson of the ABAC Digital & Innovation Working Group, and Special Advisor to the Toronto Region Board of Trade.
Mr Tan Kiat How, Senior Minister of State, Ministry of Communications and Information, said: “Our joint efforts in closing the skills gap in our digital trust workforce, and the formation of the advisory panel in the Centre of Excellence are important steps as we continue to build a trusted digital space, where people and businesses can transact securely and confidently, and benefit from the opportunities that digital brings.
Digital trust is an important area for Singapore. As a small nation, an open economy with scarce natural resources, trust is one of the most invaluable competitive advantages that Singapore has. The trust that we build between the government and people, between people and different communities in Singapore, and the international stakeholders.”
Mr Wong Wai Meng, Chair SGTech, CEO Keppel Data Centres, said: “SGTech is committed to globally promoting the concept of Digital Trust. Our primary goal in the near to medium term is to raise awareness and encourage the adoption of Digital Trust principles in a variety of environments, especially in the Asia-Pacific region, including APEC and ASEAN.
We have gathered accomplished global and regional business leaders, thinkers, and experts in the field of Digital Trust to form the Digital Trust Centre of Excellence Advisory. This esteemed group will play a vital role in guiding and actively supporting discussions surrounding Digital Trust. It will serve as a consistent source of expertise, providing recommendations to APEC Leaders and Ministers in the domain of digitalisation and innovation.”
Ms Jan De Silva, Special Advisor, Toronto Region Board of Trade, Chair, Digital & Innovation Working Group, APEC Business Advisory Council, said: “In the digital economy, trust is the linchpin for the continued growth and prosperity of the Asia Pacific region. The Advisory’s expertise and guidance offer invaluable benefits for APEC economies’ understanding of where technology is going and opportunities for skills development, collaboration and interoperability to the benefit of all. The APEC Business Advisory Council (ABAC) welcomes access to the Advisory as we articulate digital economy priorities.
Recognizing the digital economy is borderless, we need a collective approach to the opportunities of the digital age, and the pursuit of prosperity, security, and progress for all.”
Mr Ajay Bhalla, President (Cyber & Intelligence), Mastercard, said: “In today’s world where we are all increasingly transacting and interacting digitally, it’s critical to recognise the fundamental role that trust plays. In the digital ecosystem, proving who you are, and businesses determining which of their customers are genuine, are essential for commerce and growth. At Mastercard our commitment to enhance this digital trust through innovation and security is what empowers consumers, businesses, and financial institutions to build their trusted connections, and aligns seamlessly with the Advisory’s mission.”
Thought leadership studies to be launched covering the Importance of Digital Trust Workforce, and the link between Digital Economy and Sustainability
Growing demand for Digital Trust skills and risk management solutions were identified as one of the critical priorities in SGTech’s Digital Trust Landscape study report for 2022. With last year’s white paper, entitled ‘Digital Trust: Unlocking the Next Wave of Growth in the Digital Economy’, SGTech is once again taking a pioneering role in emphasising the pressing need for a professional Digital Trust Workforce.
The association has commissioned a new thought leadership study aimed at addressing the challenges and opportunities surrounding digital trust, cybersecurity, and data governance, and the workforce surrounding them. While yet to be fully completed, the initial findings revealed that improved digital trust would bring significant improvements of between 14% to 17% across a wide range of performance indicators – combating cybersecurity incidents, increased customer loyalty, market share, cost efficiencies, innovation, and better ways of working cross-functionally. At the economy level, it is a key foundation to attract investment and talent, and build a leading tech and business hub.
Mr Dennis Chan, Chief Security & Privacy Officer Huawei International, Chair of SGTech’s Digital Trust Workforce Workgroup, said: “Digital economy has swung into full throttle after the pandemic. At the same time, we saw transformation in our businesses and workplaces are constantly evolving to adopt changes. As the ever-changing cyber threats and data privacy pose some of the major challenges that businesses may face in today’s digitised world, businesses need to establish digital trust in their organisation, people and processes in order to build and strengthen the confidence of their customers. A diversified workforce ecosystem, coupled with trust technologies like PET, will help businesses better navigate through these challenges. At the Digital Trust Forum 2023, we will unveil our Digital Trust Workforce report, which can shed some light on how companies may evolve or transform their workforce in dealing with the new future.”
Teri Robinson, Managing Editor, Thought Leadership, Oxford Economics, said: “Our research shows that most businesses already experience shortages in key digital trust skills, and they can expect it to get worse in the years ahead. There are particular niche areas, such as Data Ethics and Customer Insights, where the shortages are more pronounced. Businesses recognize the criticality of digital trust and plan to ramp up their efforts going forward. But they, along with policy-makers, should invest and take actions to help build a strong digital workforce – the benefits of doing so, to both businesses and the wider economy, are expected to be large and wide-ranging”
With a projected timeline for the study to be published before the end of 2023, the study will outline recommendations or frameworks needed for companies to cultivate Digital Trust career professionals, as well as explore how relevant government agencies can support this Initiative.
Digital Economy and Sustainability (DeSus) research study
Furthermore, with a keen recognition of the crucial link between digitisation and decarbonisation, SGTech is poised to address the increasing demand for trust in digital and data systems within our economies.
In response to this demand, SGTech has also initiated the Digital Economy x Sustainability (DeSus) Research Study. Under this research, SGTech will bring together business and industry leaders to explore the economic implications of the synergy between digitalisation and sustainability. This research will be strongly underpinned by trust in digital and data systems, guaranteeing the integrity of information and data flows.
DT-SME Programme: Empowering Small and Medium Enterprises for Digital Transformation
In the dynamic landscape of the digital age, small and medium-sized enterprises (SMEs) face a remarkable opportunity to survive and thrive. With this vision in mind, SGTech has introduced the DT-SME programme, an initiative that is set to equip SMEs with the necessary tools and strategies to undergo robust digital transformation. What sets DT-SME apart is its unique 3S framework and SGTech interconnected ecosystem of strong community support that includes TACs, consultants, solutions providers, digital transformation mentors and many more, which form the cornerstone of this transformative journey.
The 3S Framework: Strategy, Solutions, and Skills
At the heart of DT-SME lies the 3S Framework, which takes a strategic, holistic approach to digital transformation. Unlike conventional tech-focused solutions, DT-SME places business strategy at the forefront, recognising that true transformation begins with a well-defined strategic vision. SMEs partnering with SGTech will embark on a journey that starts with developing a robust business strategy tailored to their unique goals and challenges.
The 3S Framework seamlessly integrates solutions and support for SMEs, offering technology recommendations and a comprehensive roadmap to implementation. Practical guidance and support will be provided at every step, ensuring that digitalisation is a tangible reality.
SGTech forms DT-SME’s ecosystem of support, with vital collaboration between Trade Associations and Chambers
Participating companies will receive support within SGTech’s interconnected ecosystem, featuring a community of solution providers, consultants, digital mentors, and industry peers. Recognising the unique digital transformation needs across industries, SGTech has consulted Singapore Food Manufacturers’ Association (SFMA), Singapore Malay Chambers of Commerce and Industry (SMCCI), Singapore Fashion Council (SFC), and Singapore Precision Engineering and Technology Association
(SPETA) and tailored the DT-SME program to cater to four high-demand sectors initially: Manufacturing, Logistics, F&B, and Retail. Singapore Fashion Council (SFC), Singapore Precision Engineering and Technology Association (SPETA) and the Singapore Logistics Association (SLA) have also joined to become Affiliate Partners in the DT-SME program.
The 3S Framework and TAC-to-TAC collaboration are inclusive and adaptable to each SMEs’ digital needs, and also complement relevant IMDA schemes (SME Go Digital, and CTO As a Service) based on SMEs’ specific requirements. This flexibility ensures that every SME receives tailored support, maximising their chances of success in the digital world.
Trade Associations and Chambers must also go digital to be effective multipliers
Crucial to the success of technology adoption by SMEs is the TACs. SGTech and the Singapore Business Federation (SBF) have joined forces under the Digitalisation of TACs (Digi-TAC) initiative for TACs to access tools and technologies. By adopting innovative solutions and going digital, TACs are better equipped to help their member companies digitise with scale and speed.
In a rapidly changing business landscape, DT-SME offers an opportunity to SMEs, propelling them into the digital and green future with a strategic mindset, practical solutions, and invaluable collaboration with TACs. The DT-SME programme is not just about change; it is about empowerment, growth, and a brighter future for SMEs in the digital and sustainable age.
The 4th ‘S’ – Sustainability Guided Programme
In addition to the digitisation initiatives introduced by the DT-SME’s 3S framework, SGTech actively plays a role in assisting Singaporean organisations to adhere to sustainability standards and criteria that the Singapore government will establish for evaluating large construction and ICT tenders starting in 2024. Furthermore, it anticipates a growing number of sustainability-related regulations emerging by 2030.
SGTech’s Sustainability Guided Programme (SGP), which is the fourth ‘S’ in SGTech’s holistic approach to SME transformation, enables SMEs to stay current with the rapidly intensifying sustainability changes both locally and internationally. With SGTech SGP, SMEs gain a competitive advantage by offering them a modular, cost-effective, and compliant method to initiate and report their sustainability initiatives, aligning with standards recognised in Singapore and worldwide.
Ms Low Yen Ling, Minister of State, Ministry of Trade and Industry (MTI) and Ministry of Culture, Community, and Youth (MCCY), said: “This programme strengthens the TACs’ support network for SMEs by plugging the enterprises into SGTech’s ecosystem of digital solution providers, consultants, mentors and industry peers. Through structured training sessions, SMEs develop a customised business transformation strategy. They subsequently implement their digitalization plan with the support of solution providers that are best matched to their business needs.”
Mr Nicholas Lee, SGTech Chair of Digitalisation Steering Committee & CEO, EZ-Link Pte Ltd, said: “Digital transformation is not a one-size-fits-all. DT-SME prioritises business strategy. SGTech recognises that true transformation begins with a well-defined understanding of how a business wants to be positioned for growth in the current and future environment. Unique to DT-SME are 3S Framework, that builds around Strategy, Solutions and Skills, and a community of solution providers, consultants, digital transformation mentors, skill trainers, and industry peers.
DT-SME offers a unique opportunity to SMEs, propelling them into the digital future with a strategic digital transformation mindset, practical solutions, and invaluable collaboration within the community of support.”
Koh Ping Soon, CEO, Singapore Business Federation (SBF), said: “I would like to congratulate SGTech on the successful launch of the DT-SME. This is timely given that SMEs’ adoption of digital technologies still lags behind that of larger companies in Singapore. SBF has partnered SGTech on numerous initiatives including Digi-TAC and the Cybersecurity 101 series. We are delighted to work with SGTech to equip SMEs with the tools to digitalise their business through DT-SME. We believe the wider adoption of digital technologies such as cloud computing, data analytics and AI can help SMEs increase topline through new channels, improve customer experience through better service and lower costs through higher productivity.”
CONTEC, ACA Pacific Group and SGTech partnership to generate 1,000 jobs
SGTech, CONTEC APAC, a global electronics manufacturer and systems integrator, and ACA Pacific, an established regional value-added distribution company, have signed a partnership agreement to accelerate digital transformation, facilitate business collaborations, and create new job opportunities in Singapore.
CONTEC is investing SGD$8 million to make Singapore its Asia Pacific headquarters and technology hub. The goal is to grow its partner network and position Singapore as a leading regional hub for IoT, digital transformation, and sustainability solutions. This visionary endeavour includes the establishment of the Asia Pacific CONTEC Centre of Excellence (CCE). They will be concentrating on offering solutions in various industry sectors like manufacturing, sustainability, logistics, and facilities management.
Over a period of three years starting from 2 January 2024, this partnership is committed to support SMEs by engaging 500 business leaders to build its network of partners to unlock local and regional opportunities and creating 1,000 new job, internship, or apprenticeship opportunities for local workers in this emerging sector.
