Indonesian institutions in the digital banking and fintech sector are witnessing remarkable expansion. This mushrooming complements Indonesia’s national strategy for AI growth. Articulated in a blueprint, it will guide the country’s AI development between 2020 and 2045 in areas like law enforcement, banking and healthcare.
Currently, customers are required to go through a computerised Know Your Customer (KYC) or third-party onboarding. To further simplify online banking operations and cope with demand, financial institutions will prioritise resources to focus on consumer and digital platforms. This paves the way for advancements in AI platforms such as Graph Database technology.
Without a doubt, Graph Database technology will be at the forefront of battling and preventing escalating online fraud, as well as minimising reputational risk and managing financial risk for financial institutions. By deploying graph database capabilities, institutions can prevent and detect financial wrongdoing such as money laundering and counter-terrorism financing.
With the simplicity of learning and the ability to improve decision-making and fraud detection processes in finance operations, Graph Database technology has become A preferred solution with financial institutions. It is particularly effective in detecting and eliminating financial fraud as it can detect fraudulent practices in real-time and allow for transaction tracking and quick human proofing. As a result, mismanagement and misappropriation of funds can be considerably reduced.
The use of Graph Database will be the most effective way to increase compliance and provide a sense of security whereby risk will be effectively mitigated, and any underwriting or loss of reputation can be avoided.
The focus of OpenGovLive! Virtual Breakfast Insight on 11 November 2021 centred on how Graph Database technology can help to deliver an effective method to detail evidence and inform practical decision-making. The is a closed-door, invitation-only, interactive session with delegates from the banking and finance industry.
Harnessing the power of Graph Database technology for critical analytics
Mohit Sagar, Group Managing Director and Editor-in-Chief, OpenGov Asia, kicked off the session with his opening address.
Mohit emphasised that culture has changed fundamentally. 2021 has proven that a remote workforce is possible. The implication of that, he highlighted, is that businesses, banks and governments will need to get on the same wavelength to retain the workforce.
Being able to evolve and keep up with the needs of the time is critical, Mohit asserts. The speed at which transactions are made and settled have evolved over time. While it used to take three days to settle bonds, in some places it is now one day. He makes a point that Graph Database technology is the technology that can accelerate and value-add to what institutions are doing and provide deeper insights that current models do not offer.
Graph Database technology is not new but a mature technology, which means that it can empower teams with the capacity to detect and interpret data faster than their existing tools. It is not a replacement but an add on; “it is the turbo that you need” to get to somewhere faster, Mohit remarked. Graph Database can perform deep, complex queries, maximise value from existing resources, deliver immediate answers at scale and meet security demands.
Fraud is massive and being able to detect that is important, Mohit asserts. As a tool, Graph Database brings tremendous value in criminal investigations through connected data.
With all this power and potential, the question is: Are financial institutions truly tapping the capabilities of Graph Database technology to detect and interpret data to expand the business and understand clients?
Combined with Artificial Intelligence and Machine Learning, Graph Database technology can smoothen data processing and provide a method for mastering the power of graph relationships and deep analytics for speedy decision-making and accurate forecasting.
Mohit is quick to emphasise that the adoption of new technology happens gradually, not “lift-and-shift”. Organisations will need to explore the infrastructure needed to utilise this technology, set up new infrastructure or integrate with the current infrastructure.
Ultimately, Graph Database technology can tackle money laundering and terrorist financing through better visibility, fast screening and real-time information that can inform decision-making.
Mohit exhorts the delegates to consider partnerships with experts who can guide them in the process of deploying Graph Database. Working with people who know what they are doing is an obvious strategy for making a “good” business “greater” with ease.
Applying Graph Database to AI analytics and data science in financial institutions
Johnson Poh, Head Artificial Intelligence and Data Science, UOB Singapore, spoke next on the fundamental concepts of analytics and graph, as well as how institutions can enhance the business world and improve operational efficiency.
Breaking down the various concepts related to analytics and graph, Johnson sets Graph Database technology at the intersection of Data Science and Big Data Analytics but nuanced the relationship it has with AI and Machine Learning.
For instance, the output from Graph Database technology can be channelled as input for machine learning and AI. Specifically, Graph Analytics is the science of analysing and representing relationships among entities of interest by way of vertices and interests. Therefore, Graph Database technology can analyse relationships with graph theory.
Johnson makes a case for Graph Database’s greater versatility and effectiveness due to the relevance of interactive and dynamic visualisations over the traditional tabular data formats. Tabular data formats are cumbersome for data analytics while graph technology is highly interactive.
As a visual representation of data, it allows people to make connections that can inform decisions. When the potential of Graph Database is fully harnessed, it can help elevate the business.
According to studies, graph analytics can generate revenue on annual basis and enhance efficiency. Mckinsey estimates that big data analytics can create between $4 to $6 trillion in value annually, while Accenture reveals that banks can expect potential savings between 20% to 25% using big data analytics.
Johnson provided examples of how analytics can be applied with Graph Database technology within the banking and financial industry – AML management and fraud detection, recommender systems, customer 360 view and cybersecurity.
On AML management and fraud detection, he shared that Graph Database analytics allow banks to sift out the underlying transactions and the relationships of fraudulent entities by mapping accounts and fund flows. By leveraging Graph analytics, the human task of investigating fraudulent transactions can be streamlined by prioritising the transactions that matter.
Another application of Graph Databases includes recommender systems. Graph analytics can empower sales teams and analysts to have a unified view of customers and their journey map. With a fuller view of the customer journey, financial institutions can offer personalised and targeted services by analysing the preferences and profiles of customers. By offering a customer 360 view, the technology allows institutions to leverage linkages and relationships and to make connections that can inform operational decisions.
In terms of cybersecurity, Johnson shared that large corporate organisations face challenges in detecting real-time activity and transactions seamlessly. As data increases and operations scale, Graph analytics offers a solution in sifting out critical data.
He concluded his presentation with the assurance that Graph Database technology can greatly benefit the operations of financial institutions, earning the trust of clients, generating revenues and saving on costs.
Staying ahead of the game in a big data environment
The next speaker, Reza Pahlevi, Managing Director-Indonesia TigerGraph, spoke on the use of Graph Database as a tool that can help banking and financial institutions improve operations.
The move towards Graph Database technology is the key to elevating businesses through analytics, Reza believes. By 2025, graph technologies will be used in 80% of data and analytics innovations, up from 10% in 2021, facilitating rapid decision making across the enterprise.
Founded in 2012 and headquartered in California, TigerGraph provides graph database and graph analytics software. In a short span of time TigerGraph has made headway into the financial and government sectors in the Asia Pacific and Indonesia.
Currently, 8 of the top 10 global financial institutions use TigerGraph, he claims. These banks have robust infrastructure and technology to compete in the big data environment, and yet moving to Graph was deemed necessary to improve their operations.
TigerGraph offers a whole gamut of solutions to improve operations at multiple levels – from supply chain management, fraud detection and prevention, to cybersecurity. Increasingly, Graph Database technology is becoming a common tool to solve financial crimes. As an example, within the first year of using TigerGraph, the 2nd largest global bank had savings of US$50 million from early fraud detention.
Handing the time over to Ghulam, Director, Solution Engineering, TigerGraph, the presentation transited to an in-depth look at case examples of how TigerGraph was utilised to detect fraud rings, combat crimes, improve outcomes of healthcare and uncovered tax avoidance and evasions.
TigerGraph was able to help a leading U.S. bank detect fraud and address the issue more swiftly than earlier. The bank was unable to see connected data in context and wanted a better way to detect and remove fraudsters from their credit-card network. With TigerGraph, they were able to expose fraud rings, shut down connected cards and combat fraudulent activity on a massive scale. From a single transaction, the technology can identify the fraud community and identify the main actor and provide a location.
Graph Database technology can also be used in the sphere of healthcare. At United Health Group, TigerGraph combined multiple data sets from various sources of data to create a 360 view of the connections and enabled the organisation to see the user journey in one view. TigerGraph has also been deployed by Gojek, a ride-sharing service, to detect fraud and cheating attempts by drivers and consumers.
Ultimately, he concludes that Graph Database offers the visibility and speed necessary for quicker response time in detecting fraudulent activities, understanding customers and scaling operations. TigerGraph offers a flexible and scalable platform to implement complex logic. It is a necessary solution for financial institutions eager to gain a winning edge.
After the informative presentations, delegates participated in interactive discussions facilitated by polling questions. This activity is designed to provide live-audience interaction, promote engagement, hear real-life experiences, and facilitate discussions that impart professional learning and development for participants.
When asked about whether delegates obtain real-time information with accurate data and information on their current AI or Machine Learning platform, an overwhelming majority (70%) indicated that their current information is not real-time but does offer accurate data and information. Others indicated that their current information is not real-time and are unsure if the data and information are accurate (24%).
For Johnson, the implementation of this solution will require shifts in technology, people and processes.
Mohit agrees that it is not a destination but a journey that progresses incrementally.
The second question inquired about the challenges delegates face in analysing financial information for critical decision-making during the pandemic. The results indicated an even split between screening for the right data or information (40%) and forecasting the accuracy of the decision made in the long run (40%). The remaining delegates opted for drawing a conclusion for decision making to manage risk (13%) and interpreting finance data or information accurately (7%).
Mohit observed that delegates seem to be experiencing challenges with the data and the accuracy of our prediction. It is, therefore, timely to bring in a technology that can provide visibility at rapid speed. In addition, accuracy is becoming more critical in times of the pandemic.
Johnson is convinced that the key lies in making use of real-time data pipelines to support the insight-generation process. Reza explained that the change in behaviour initiated by the pandemic means that there is a need for more accurate data. In that regard, “AI and machine are inevitable.”
On how delegates felt their organisation stood in terms of the speed to screen and detect any unethical actions (Financial Fraud, Money Laundering, Terrorism Financing), the majority of the delegates confirmed that their organisation has moderate speed in screening and detecting unethical actions (71%). The remaining expressed that they do not have a tool or solution to screen and detect unethical actions (29%).
For TigerGraph’s customers, the value-add of the technology lies in speed, accuracy and scalability, Reza elaborated.
Johnson is of the view, where it concerns governance risk and compliance, institutions must always strive for the best practices by leveraging on the tools available. He observes that utilising cutting-edge technology in the next couple of years will become a necessity.
“You can be ahead of the curve or play catch up,” says Mohit.
When asked, most of the delegates (59%) indicated that indicated they are not familiar with the advantages of Graph Databases and how it will enhance their daily decision-making process. The others were split between being familiar but currently not using the technology (29%) and being familiar and currently using the technology (12%).
In response to the results, Reza clarifies that Graph Database technology is an easy-to-deploy option and that it is important to take baby steps towards more strengthening the infrastructure.
Johnson concurred with Reza. While it might seem difficult to implement Graph Database technology at scale and ensure that it is well governed, he believes that institutions can harness the expertise of platforms like TigerGraph to manage the end-to-end flow of work processes and implement real-time pipelines to enrich the insights generated.
Government institutions seem to be ahead of the banking sector in the understanding of Graph Database technology. According to a poll from a previous OpenGovLive! session held for top Indonesian government institutions, 43% of the delegates indicated that they are familiar but have not implemented this technology. This points to a government that is taking the lead in exploring new technologies.
The final poll inquired about the current focus of delegates in utilising a Graph Database platform on their daily and future decision making. Most delegates indicated that their focus was on making the right decision to mitigate risk (35%). Votes were split between detecting and mitigating financial fraudulent related activities (29%) and other focuses (29%).
For Mohit, all the options are equally important. If institutions want to cover every use case, they will need a well-structured platform and process that will help to scale up the implementation in a seamless fashion.
Wrapping up the session, Reza emphasised that adopting Graph Database technology can be a gradual process. It is an add-on feature that is versatile and easy to deploy. As the challenges in a rapidly changing world grow, Graph Database technology will be the key to a competitive edge. It can help institutions stay ahead of the game and accelerate businesses in achieving their business objectives.
Before bringing the session to an end, Reza thanked thank everyone for their participation and honest sharing. He encouraged the delegates to continue to learn and understand Graph Database technology, exchange ideas and connect with him if they have any queries.
In a stirring address at the Emerging Enterprise Awards (EEA) 2023, Senior Minister of State Tan Kiat How underscored the pivotal role of continuous learning and skills acquisition in navigating the dynamic landscape of the modern world.
Emphasising that education should be viewed as a lifelong journey, extending beyond formal academic years, he articulated the need for individuals to adapt to the evolving demands of an ever-changing workplace.
Acknowledging the government’s commitment to supporting Singaporeans in this quest for perpetual learning, Tan Kiat How also appealed to business owners and industry leaders to create an enabling environment for employees to upgrade their skills. He highlighted the Forward Singapore report, a comprehensive guide to the nation’s major developmental shifts, urging those unfamiliar with it to explore its insights.
The Senior Minister of State asserted that embracing technology as a strategic enabler is integral to overcoming traditional constraints and enhancing competitiveness. He underscored Singapore’s pioneering role in digital technology adoption, dating back to the 1980s when the nation became one of the first in the world to integrate computers into its public service and workplaces.
Singapore places a paramount emphasis on the pivotal role of digitalisation in revolutionising its educational landscape. With a focus on enhancing learning experiences, fostering global competitiveness, and preparing students for the future workforce, the nation is embracing innovative teaching methods and personalised learning through advanced digital tools.
The integration of technology not only streamlines administrative processes but also facilitates seamless transitions between in-person and online learning models. This commitment to digitalisation reflects Singapore’s dedication to staying at the forefront of educational innovation, equipping students with essential technological skills for the evolving global landscape.
This commitment to technological advancement has persisted, forming the bedrock of Singapore’s digital foundation. Senior Minister Tan shed light on the government’s SMEs Go Digital programme, an initiative integrating emerging technologies like artificial intelligence (AI) and cloud services into Industry Digital Plans (IDPs).
These IDPs serve as roadmaps, guiding businesses across various sectors in adopting digital solutions and upskilling their workforce. In a recent example, the Tourism (Attractions) IDP incorporated AI to streamline workflows and provide data-driven insights, enhancing decision-making for attraction operators.
The government’s holistic approach extends beyond specific sectors, with a thorough examination of industry disciplines sector by sector. This involves updating strategies, incorporating emerging technologies, and ensuring that small and medium-sized enterprises (SMEs) can boost productivity and competitiveness while navigating the complexities of digital transformation.
Senior Minister Tan cited the Chief Information Security Officers-as-a-Service initiative, where cybersecurity consultants aid firms in enhancing cyber resilience through “check-ups” and tailored health plans.
Encouraging firms and networks to actively engage with these programmes, Senior Minister Tan emphasised the need for Singapore to embrace its agency in shaping its future. He urged the nation to leverage its strong foundation and the strategic roadmap outlined in Forward Singapore.
As Singapore charts its digital odyssey, the EEA 2023 serves as a platform not just for acknowledging achievements but for inspiring a collective commitment to a future where technological innovation and lifelong learning propel the nation to new heights.
The Senior Minister of State added that Singapore’s exceptionalism relies on collective ambition, hard work, and unity, ensuring that the nation continues to defy the odds and stand as a beacon on the global stage.
Union Minister of State for Skill Development & Entrepreneurship and Electronics & IT Rajeev Chandrasekhar shared comprehensive insights into India’s tech landscape at the 26th Edition of the Bengaluru Tech Summit.
Minister Chandrasekhar navigated through a spectrum of crucial tech domains, unravelling India’s transformative journey and the role of entrepreneurship and innovation in the digital economy. He shed light on India’s burgeoning semiconductor industry, the transformative potential of AI, and the instrumental role of startups in shaping the nation’s economic future.
Minister Chandrasekhar reflected on the dynamic shift in India’s semiconductor narrative, echoing the sentiments articulated by India’s Prime Minister at the Semicon India 2023 Summit. He underscored the evolving perspective from “why India” to “when in India” and “why not in India.”
This transformation signifies the growing confidence and capabilities within India’s tech ecosystem, a testament to the nation’s progress in diverse domains such as AI, semiconductors, electronics, Web 3, supercomputing, and high-performance computing.
“Pre-2014, India’s semiconductor story was a series of missed opportunities,” reflected Minister Chandrasekhar while tracing the trajectory of the semiconductor industry’s evolution.
Despite lacking a design legacy, Minister Chandrasekhar emphasised India’s strides in the semiconductor sector. Acknowledging the catch-up game after missed opportunities, he highlighted India’s leapfrogging approach, skipping a generation to explore novel opportunities for the next decade.
The focus on talent, design, packaging, and research has propelled India towards becoming a significant player in the global semiconductor ecosystem, marking a definitive trajectory of growth.
Minister Chandrasekhar reiterated India’s emphasis on harnessing AI’s transformative power resonates deeply with India’s commitment to leveraging cutting-edge technology for societal betterment and enhanced living standards across diverse segments of the population.
“We believe that AI when harnessed correctly, can transform healthcare, agriculture, governance and language translation”: MoS Rajeev Chandrasekhar
By integrating AI technologies into these sectors, the aim is to revolutionise service delivery, streamline operations, and democratise access to advanced services for all citizens. However, he also addressed the inherent risks posed by the potential misuse of AI by bad actors, stressing the need for legislative guardrails to ensure safety and trust in AI applications. Aligning with global sentiments, Chandrasekhar highlighted the necessity for regulatory frameworks to prevent misuse and foster ethical AI deployment.
“The world is now aligning with India’s view that we need guardrails of safety and trust for the Internet,” he said.
In an increasingly tech-dependant world, Mnster Chnadrashekhar believes that innovation and entrepreneurship are vital – startups are the pillars of India’s tech evolution. Elaborating on India’s startup landscape, Minister Chandrasekhar showcased the pivotal role played by startups since 2014, citing the emergence of 102 unicorns and a substantial influx of FDI.
He emphasised how startups are not just economic entities but integral components of India’s tech vision, contributing significantly to the digital economy’s $1 trillion goal. With a focus on nurturing the futureDESIGN DLI startups, Chandrasekhar envisaged their potential to become the unicorns of tomorrow, driving innovation across AI, semiconductors, and next-gen electronic systems.
Minister Chandrasekhar’s insights underscore India’s rapid tech evolution, emphasising the nation’s strides in semiconductors, the transformative impact of AI, and the pivotal role of startups. As India charts its course towards a $1 trillion digital economy, its vision encapsulates the imperative of regulatory frameworks, innovative strides, and collaborative efforts in harnessing technology for inclusive growth and global relevance.
OpenGov Asia reported that Minister Chandrasekhar, who spoke at two influential tech events: the Indian Express Digifraud & Safety Summit 2023 and YourStory Techsparks’23, expressed similar views on India’s technological advancements, regulatory policies, and the nation’s promising future in the global tech landscape.
At these tech summits, Minister Rajeev Chandrasekhar outlined India’s ambitious technological trajectory, reinforcing the government’s dedication to fostering innovation, ensuring a safe digital environment, and harnessing the transformative power of technology for the nation’s progress.
In emphasising the importance of inclusivity, technology must cater to individuals with physical impairments who face challenges in using traditional input devices like mice and keyboards, which often leads to their exclusion from technical professions.
To foster inclusive accessibility, multiple alternative methods should be actively identified and implemented to facilitate individuals with physical impairments to engage in coding activities. The evolution of these alternative input methods signifies a positive shift towards a more inclusive and accessible technological landscape.
In an initiative to encourage digital inclusion and technological education, a KidBright Workshop has targeted students and teachers from 10 schools catering to children with disabilities. This workshop showcased the power of the KidBright AI Platform in guiding participants to construct embedded system projects.
Dr Patchralita Chatwalitpong, The National Science and Technology Development Agency (NSTDA) Vice President for Science and Technology Human Resources Development, emphasised the significance of advancing science and technology education among disabled individuals. “Disabilities children also have the right to gain knowledge in this digital realm. Physically impairment is not merely the obstacle for it,” she addressed.
KidBright, a coding learning tool developed by NECTEC-NSTDA, emerged as a beacon of innovation. As an open-source embedded programming platform, KidBright enables children to learn coding through its embedded board and KidBright Integrated Development Environment programme (KidBright IDE). The platform’s accessibility and user-friendly interface empower young learners to delve into coding seamlessly.
The genesis of this impactful project traces back to 2018, when NSTDA initiated a pioneering effort to promote coding skills specifically tailored for children with disabilities. From 2018 to 2020, KidBright boards and UtuNoi STATION packages were distributed across these schools, accompanied by a series of workshops for both students and teachers. These workshops provided comprehensive training on programming KidBright boards and equipped participants with the skills to create embedded system projects.
The inclusion of data science knowledge in 2019 and 2020 further enriched the project, empowering educators and students to devise innovative solutions catering to the needs of people with disabilities. Notably, several of these inventive creations garnered accolades in innovation contests.
The project’s trajectory leapt in 2023 with a strategic expansion into artificial intelligence (AI). This follow-up session spotlighted the development of science projects utilising the KidBright AI Platform. Led by the adept Educational Technology Research Team and spearheaded by Dr Saowaluck Kaewkamnerd, this workshop aimed to deepen participants’ understanding of AI and encourage the creation of innovative projects with real-world applications.
This multifaceted project exemplifies the commitment to advancing education in emerging technologies and ensuring inclusivity in digital literacy. Integrating coding, embedded systems, data science, and AI into the curriculum empowers students, especially those with disabilities, to become adept in the digital landscape. The KidBright AI Platform catalyses nurturing creativity, problem-solving skills, and a passion for technology among the younger generation, transcending barriers and fostering a more inclusive and technologically literate society.
Further, the recognition of inclusivity has gained global attention, exemplified by its acknowledgement in the United States. The Alliance for Access, the Computing Career Centre from Washington University, outlined several approaches that can enhance programming accessibility for students with diverse disabilities. To illustrate:
- Clear Instructions and Examples: Providing clear instructions and relevant examples universally benefits all students, promoting a better understanding of programming concepts.
- Speech Input Software: Students who face challenges with conventional keyboards can leverage speech input software.
- Macro-Writing Programmes: Utilising a macro-writing programme for individuals with mobility impairments becomes invaluable. This programme facilitates the creation of shortcuts, simplifying the typing process.
- IDE Features: Integrated development environments (IDEs) may incorporate features specifically beneficial for students with disabilities.
- Word or Syntax Auto-Completion: Predictive typing assists users by anticipating their input.
- Syntax Highlighting: Color-coded representation of typed code enhances visual distinction.
- Variable Name Highlighting: Ensures consistent spelling of variable names.
- Inline Spell-Check: This feature can benefit some students, promoting accurate coding.
By highlighting and implementing this in the programming environment among disabled children in Thailand, educators can create a more inclusive and supportive learning experience for students with disabilities, not only enhancing the knowledge of students but also fostering inclusivity and equality.
Singapore’s Senior Minister of State for Defence, Heng Chee How, and Senior Minister of State for Communications and Information and Health, Dr Janil Puthucheary, recently visited the Critical Infrastructure Defence Exercise (CIDeX) 2023, underscoring the government’s commitment to fortifying national cybersecurity.
The exercise, held at the National University of Singapore School of Computing, witnessed over 200 participants engaging in operational technology (OT) critical infrastructure defence training.
Organised by the Digital and Intelligence Service (DIS) and the Cyber Security Agency of Singapore (CSA), with support from iTrust/SUTD and the National Cybersecurity R&D Laboratory (NCL), CIDeX 2023 marked a collaborative effort to enhance Whole-Of-Government (WoG) cyber capabilities. The exercise focused on detecting and countering cyber threats to both Information Technology (IT) and OT networks governing critical infrastructure sectors.
This year’s edition boasted participation from DIS, CSA, and 24 other national agencies across six Critical Information Infrastructure (CII) sectors. With an expanded digital infrastructure comprising six enterprise IT networks and three new OT testbeds, participants operated on six OT testbeds within key sectors—power, water, telecom, and aviation.
CIDeX 2023 featured Blue Teams, composed of national agency participants serving as cyber defenders, defending their digital infrastructure against simulated cyber-attacks launched by a composite Red Team comprising DIS, CSA, DSTA, and IMDA personnel. The exercises simulated attacks on both IT and OT networks, including scenarios such as overloading an airport substation, disrupting water distribution, and shutting down a gas plant.
The exercise provided a platform for participants to hone their technical competencies, enhance collaboration, and share expertise across agencies. Before CIDeX, participants underwent a five-day hands-on training programme at the Singapore Armed Forces (SAF)’s Cyber Defence Test and Evaluation Centre (CyTEC) at Stagmont Camp, ensuring readiness for cyber defence challenges.
On the sidelines of CIDeX 2023, the DIS solidified cyber collaboration by signing Memorandums of Understanding (MoUs) with key technology sector partners, expanding its partnerships beyond the earlier agreement with Microsoft earlier in the year.
Senior Minister Heng emphasised the importance of inter-agency cooperation, stating, “CIDeX is a platform where we bring together many agencies throughout the government to come together to learn how to defend together.” He highlighted the collective effort involving 26 agencies and over 200 participants, acknowledging the significance of unity in cybersecurity.
Dr Janil echoed this sentiment, emphasising CIDeX’s role in the Whole-of-Government (WoG) cyber defence effort. He remarked, “Defending Singapore’s cyberspace is not an easy task, and it is a team effort.”
He commended the strong partnership between the Cyber Security Agency of Singapore and the Digital and Intelligence Service, recognising the exercise as a crucial element in strengthening the nation’s digital resilience and national cybersecurity posture.
By leveraging collaboration, innovation, and a robust defence strategy, Singapore aims not just to protect its critical infrastructure but to set a global standard in cybersecurity practices.
CIDeX 2023 serves as a compelling embodiment of Singapore’s unwavering dedication to maintaining a leadership position in cybersecurity practices. This strategic exercise underscores the nation’s commitment to cultivating collaboration and fortifying its resilience against continually evolving cyber threats.
Beyond a training ground for sharpening the skills of cyber defenders, CIDeX 2023 encapsulates the government’s profound commitment to adopting a robust, collaborative, and forward-thinking approach to safeguarding the integrity and security of the nation’s critical infrastructure in the dynamic landscape of the digital age.
The Cyberport Entrepreneurship Programmes’ 20th Anniversary Celebration and Graduation Ceremony was a major event attended by notable personalities, distinguished guests and budding innovators.
Cyberport is Hong Kong’s digital technology flagship and incubator for entrepreneurship with over 2,000 members including over 900 onsite and close to 1,100 offsite start-ups and technology companies. It is managed by Hong Kong Cyberport Management Company Limited, wholly owned by the Hong Kong SAR Government.
With a vision to become Hong Kong’s digital technology hub and stimulate a fresh economic impetus, Cyberport is dedicated to cultivating a dynamic tech environment. This commitment involves nurturing talent, encouraging youth entrepreneurship, aiding startups, fostering industry growth through strategic partnerships with local and international entities, and driving digital transformation across public and private sectors, bridging new and traditional economies.
Professor Sun Dong, the Secretary for Innovation, Technology, and Industry, Hong Kong highlighted Cyberport’s incredible journey and the achievements of its vibrant community. Expressing his delight in commemorating Cyberport’s two-decade-long legacy, he emphasised the institution’s pivotal role as an ICT powerhouse in Hong Kong.
From its humble beginnings to its present stature, Cyberport has emerged as a catalyst for innovation, nurturing over 2,000 technology companies and startups and showcasing an exponential growth rate over the past five years.
Cyberport’s community has attracted a staggering US$38 billion of investment, marking its significance as an ICT flagship in Hong Kong. The establishment takes pride in its contribution to nurturing numerous innovative ideas and fostering dynamic business ventures, with seven notable unicorns in fintech, smart living, and digital entertainment sectors.
Cyberport excelled at the prestigious Hong Kong ICT Awards, with 25 startups securing 28 accolades, including the esteemed Award of the Year. This achievement showcased the institution’s exceptional calibre and innovation prowess nurtured within its ecosystem.
Acknowledging the pivotal role of startups in Cyberport’s success story, Professor Sun Dong shared how these young enterprises, often starting with a simple idea at a small table, grow in tandem with Cyberport’s support. The institution provides not just financial aid but also a nurturing environment where entrepreneurs can leverage extensive networks, collaborative spaces, and expert guidance to cultivate their ideas into commercial successes.
The graduation of more than 200 startups from the Entrepreneurship Programme stood as a testament to Cyberport’s commitment to fostering entrepreneurial talent. This initiative empowers startups to translate their ideas into tangible commercial solutions and market breakthroughs, laying the foundation for their future success.
Looking ahead, Professor Sun Dong outlined Cyberport’s exciting plans, including the upcoming expansion block slated for completion in two years, aimed at providing additional space for the community’s development. He also highlighted Cyberport’s initiative to establish the Artificial Intelligence Supercomputing Centre, a pioneering endeavour set to commence in 2024, envisioned to be a pioneering and substantial facility in Hong Kong.
Cyberport’s extraordinary journey showcases significant achievements while charting a promising future, embodying the core values of innovation, collaboration, and collective growth.
Professor Sun expressed gratitude on behalf of the Government, acknowledging their hard work and contributions to the tech ecosystem emphasising the importance of collective participation for a better future.
The vibrant success of events like the Cyberport Venture Capital Forum 2023 resonates with Cyberport’s commitment to fostering innovation and collaboration, further cementing its role as a catalyst for technological advancement and entrepreneurial growth in Hong Kong.
The Cyberport Venture Capital Forum (CVCF) 2023 saw a turnout of over 2,500 participants during its two-day hybrid event. Themed “Venture Forward: Game Changing through Innovation,” the forum convened 80 global visionary venture experts, entrepreneurial pioneers, and influential thinkers. With more than 120,000 page views and over 300 fundraising meetings facilitated, it solidified its position as a pivotal platform fostering networking and collaborative opportunities.
In a significant stride towards technological innovation and sustainable development, the Department of Scientific & Industrial Research (DSIR) and The Energy and Resources Institute (TERI) have joined forces to revolutionise India’s construction and wastewater treatment sectors.
This pioneering collaboration under the “Access to Knowledge for Technology Development and Dissemination (A2K+) Studies” Scheme of DSIR is aimed at aligning with India’s Smart Cities Mission and its ambitious commitment to achieving net-zero emissions by 2070.
DSIR’s allocation of two crucial research studies to TERI signifies a pivotal step in bridging the informational gap on advanced building materials, designs for energy efficiency, and the assessment of membrane-based sewage wastewater treatment systems for reuse and recycling.
A significant milestone in this partnership was marked by a high-profile Stakeholder Consultant Meeting held at the prestigious India Habitat Center in New Delhi. Attended by key decision-makers, esteemed experts from academia, industry leaders, and policymakers, this event became a platform for insightful discussions and collaborations.
Dr Sujata Chaklanobis, Scientist ‘G’ and Head of A2K+ Studies at DSIR, emphasised the importance of promoting industrial research for indigenous technology development, utilisation, and transfer in her address. Her words underscored the crucial role of research and innovation in fostering sustainable technological advancements.
Mr Sanjay Seth, Senior Director of TERI’s Sustainable Infrastructure Programme highlighted India’s commitment to carbon neutrality by 2070. He stressed the imperative integration of cutting-edge technologies and innovative designs in buildings to significantly reduce energy consumption, a key step towards a sustainable, low-carbon future.
The first session of the consultation centred on leveraging emerging technologies and innovative solutions for advanced building design to enhance energy efficiency. Experts from various domains provided insightful suggestions and information, fostering dialogue on energy-efficient building designs and sustainable construction practices.
The second session delved into the current status and prospects of membrane technologies in India for sewage treatment. Insights from academia, including professors from prestigious institutions, shed light on research gaps and opportunities for commercialisation in the domain of membrane-based technologies.
Industry experts also provided valuable perspectives on the current membrane market, innovations, and opportunities, creating a comprehensive understanding of the landscape and paving the way for future developments.
The amalgamation of insights from academia, industry, and end-users enriched the discussions, providing a roadmap for future innovation and development in these critical sectors. The event culminated with a commitment from both DSIR and TERI to embark on an innovation journey, heralding a sustainable and resilient future for India.
The DSIR-TERI collaborative consultation stands as a beacon of transformative progress in advancing sustainable building practices and sewage treatment technologies. It underscores the power of partnership in driving technological evolution for a more sustainable tomorrow.
India’s ambitions intertwine technological progress with a steadffast commitment to sustainability, envisioning a future where innovation not only drives economic growth but also champions environmental stewardship.
Through strategic initiatives and cooperation, India aims to leverage cutting-edge technologies to address pressing global challenges, ensuring a harmonious balance between technological advancement, environmental preservation, and societal well-being.
NITI Aayog, in collaboration with CSIRO, Australia’s national science agency, initiated the India Australia Rapid Innovation and Startup Expansion (RISE) Accelerator under the Atal Innovation Mission (AIM) to bolster circular economy startups from both countries, fostering innovation and entrepreneurship.
The Indian Institute of Technology Kanpur (IIT-Kanpur) and the African-Asian Rural Development Organisation (AARDO) jointly organised an international training programme, focused on exploring the application of nanotechnology in promoting plant growth and crop protection for sustainable agriculture.
According to an IIT-Kanpur statement, the programme served as a forum for experts from diverse fields to discuss and deliberate on solutions to meet the urgent global challenge of achieving food security and promoting sustainability in agriculture.
The Indonesian government actively strives to implement thematic Bureaucratic Reform (RB) directly addressing societal issues. Minister of State Apparatus Empowerment and Bureaucratic Reform (PANRB) Abdullah Azwar Anas emphasised that innovation is one way to realise impactful bureaucracy.
To create impactful bureaucracy through innovation, the PANRB Ministry, which oversees public services, encourages local governments to replicate innovations through the Public Service Innovation Replication Forum (FRIPP). This is done to expand the reach of inventions and make them an integral part of the Bureaucratic Reform effort. The PANRB Ministry, as the overseer of public services, pays special attention to the steps local governments take in implementing innovations in public service delivery.
The Public Service Innovation Replication Forum (FRIPP) is a platform for local governments to share and discuss their experiences adopting specific innovations. By sharing best practices and learnings, local governments can gain valuable insights to enhance the quality of public services at the local level.
Furthermore, Abdullah Azwar Anas emphasised that inter-government collaboration is critical to building an innovative and positively impactful bureaucracy. “Through FRIPP, we encourage local governments to inspire and adopt innovations that have proven to provide real benefits to the community,” said Minister Abdullah Azwar Anas.
As previously reported by OpenGov Asia, the PANRB Ministry, along with the Ministry of Home Affairs and the National Administrative Agency (LAN), successfully launched the National Public Service Innovation Network (JIPPNas) website as a knowledge management system and the national database for public service innovations.
JIPPNas represents a concrete step in building an innovation ecosystem at the national level. This platform allows local governments to share ideas, projects, and innovative solutions in delivering public services. With this platform, other local governments can easily access and adopt innovations, accelerating the spread of best practices.
“Therefore, the presence of JIPPNas is expected to be an effort to grow new public service models through collaboration to achieve the future government,” said Minister Abdullah Azwar Anas.
In the discourse of Future Government, Minister Abdullah Azwar Anas outlined four main focus areas of the Thematic Bureaucratic Reform, which serve as the foundation for ambitious goals: poverty alleviation, increased investment, digitisation of government administration, and accelerating the current President’s priorities. Emphasis on these areas is crucial to ensuring that the bureaucracy is an effective and efficient driving force in realising the government’s vision and mission.
Minister Anas stressed the importance of a prime bureaucratic condition as a foundation to achieve the desired goals. Like a machine that must be well-maintained, the bureaucracy is directed to be able to drive the “vehicle” of the government towards the desired direction. Thus, the success of implementing the Thematic Bureaucratic Reform involves not only structural transformation but also upholding the quality and readiness of the bureaucracy as the primary driver of development.
Addressing Future Governance or Governance 5.0, Minister Anas detailed a significant paradigm shift. The “government regulating society” transitions to “Government working together with society,” or more precisely, considering society as a partner. This concept marks an evolution in how the government interacts with society, creating closer and more inclusive collaboration.
The importance of support from strategic partners such as Indonesia Infrastructure Project Governance (IIPG) is also highlighted. As a supporter of public governance reform, IIPG significantly contributes to maintaining synergy and harmonisation of roles across multi-sectors, both from the private and public sectors. This synergy is crucial in maintaining optimal performance and achieving public governance reform goals.
In line with the paradigm shift and focus on reform, these steps mark the government’s severe efforts to build a foundation for an adaptive, responsive, and actively engaged Future Government. Thematic Bureaucratic Reform is not just about structural transformation but also an effort to create a governance ecosystem capable of meeting the challenges and demands of the times effectively and competitively.