Financial institutions can incur losses in a variety of ways and these risks are becoming more complex as technology advances. With the growth of the digital enterprise, banks face challenges in maintaining data quality and security, as well as making data-driven decisions, because they deal with a vast amount of partially structured and unstructured data points.
Almost all risk management strategies are based on awareness and transparency. While data collection and analytics tools are now widely available, organisations still struggle to integrate several sources of data and outdated infrastructure to determine the best course of action.
To ease their digital transition, banks should shift from manual to automated, information-driven, real-time systems with the right partners and technologies. However, banks must have system design and controls in place to address the numerous operational and security risks associated with digital banking.
The OpenGovLive! Virtual Breakfast Insight held on 09 June 2022 focused on how to thrive in the digital banking environment to maintain its competitiveness and security and offer the best customer experience possible.
Robust Security Strategies
Mohit Sagar, Group Managing Director and Editor-in-Chief, OpenGov Asia believes that business security breaches are making headlines emphasising data fragility and the absence of effective security policies in organisations of all sizes.
Data security is vital in both private and government sectors, and everything from financial data to employee information must be safeguarded. One’s reputation and finances could be harmed if one’s security is breached.
“As the pandemic spread around the world over the past years, most organisations have made it a top priority to manage their operations or services remotely. A lot of employees and employers have to adjust to the new normal of working from home,” observes Mohit. “As more individuals go cashless and more digital options are offered, activities and transactions are increasingly taking place online.”
With the rise of digitalisation, cybersecurity threats have also increased substantially. The fundamental goal of cybersecurity in digital banking is to protect the interests of its customers, their staff and their reputation.
Mohit opines that digital banking security must become far more robust and comprehensive because the banking industry has become increasingly susceptible to cyber strikes with the wider attack surface online transactions provide.
He acknowledged that an increasingly complicated digital workplace demands leaders who can foster an agile attitude to achieve long-term success. With the assistance of the right partnerships, banks and other financial institutions may be able to achieve flawless cybersecurity that does not expose their clients’ data and funds.
Mastering Digital Agility
Mike Hooper, Director, Digital Transformation (APAC), OpenText spoke on how to empower people and processes with a holistic approach to technology. He explained that people and processes will be more effective if they are provided with the information they require.
“A successful transformation should focus on establishing digital agility,” Mike states. “The ability to foresee and respond to rapidly changing situations is at the forefront of most business leaders’ minds considering tremendous technological advances and an increasingly disruptive operating environment.”
What is important for banks is satisfying their customers’ needs by ensuring a uniform banking experience regardless of platform or channel. In the future, financial institutions will need to determine the role of each entity.
Financial institutions must manage digital risk, enhance customer experience, transform their businesses to become future-ready and create a more resilient financial services ecosystem. They may have to rethink business models and alter customer relationships using digital technology and procedures.
Compliance with digital banking services must be prioritised to ensure that banks and other financial institutions can detect any fraudulent actions and continue to provide their services.
Banks and other financial institutions have made substantial investments in their services and products, and they must stay as close as possible to the emerging and latent demands of their clients. Even governments need to ensure the security of their digital transactions by taking a comprehensive picture of clients and services.
Both the private and public sectors can use metadata to better comprehend documents, and its archiving is the key to accessing the information. A partnership is the best solution for privacy protection.
Through Core for Federated Compliance, which provides cross-repository visibility and policy control for transparency and defensibility of organisational information governance processes and reporting, OpenText can assist any organisation in scaling up their current system without compromising the old one.
Digital Dialogue: Experts on Regulations Strategies in Digital Banking
In the next session Mohit engaged in an in-depth conversation with Nishy Ramos, First Vice President, IT Solutions Delivery, BDO Unibank and Dr David R. Hardoon, Chief Data and AI Officer, Union Bank of the Philippines.
Digital banking specialists have been brought in to examine how technology may help reduce the danger and cost of uncontrolled data while maintaining regulatory compliance.
Mohit invited the guests to share their opinions on the outlook of digital transformation from their perspective. The discussion centred around regulation plans, from a strategic standpoint, as well as the use of tools or technology by IT specialists from the banking sector.
According to Nishy Ramos, First Vice President, IT Solutions Delivery, BDO Unibank, it is critical to perform proactive interactions and understand where the organisation is heading and collaborate closely with an internal team.
She believes that understanding the customers’ demands digitally and employing technology is important for a bank, government or any industry, “We study our customer’s profile this helps us to understand their needs.”
The main issue that most firms face is that risk managers do not always understand data, and data managers do not always understand risk. These companies are giving their employees access to a more holistic approach to data management through data or knowledge portals. Instead of wasting time trying to make sense of vast amounts of disparate data, users can gain more accurate and timely insights.
Furthermore, as the world remains in the grips of the pandemic, the significance of holistic digital services in banking becomes clearer, which has further strengthened the case for why conversational banking is the game-changer in digital consumer engagement.
“Every organisation takes a different approach, but the most important is centralisation. It is the ability to comprehend your clients.” According to Dr David R. Hardoon, Chief Data and AI Officer, Union Bank of the Philippines. “Sharing is caring! Leveraging the skills from other experiences will strengthen the industry and can boost the digital economy.”
Banks and other financial institutions must continuously assess and manage cyber risks by monitoring their organisational information systems and operational environments. This will help to verify compliance, determine the effectiveness of risk response measures, and identify risk-impacting changes.
In addition to being compliant and supervised by regulatory agencies, data “centralisation is the key”, creating metadata that may benefit organisations in constructing an ecosystem.
Moreover, transparency both internally and publicly must be improved by clearly defined firm spending standards, which include pre-set thresholds for teams and individual employees. It also demands trust and accountability, as well as empowering people to take control of how they spend for the organisation.
Technology centralisation must be implemented and to improve security and cost, the banking industry must test cloud-based services and deploy testing tools. Big data analytics is used by banks to create customer-centric and customer-driven solutions. Because big data is synonymous with massive amounts of data, ensuring the app’s scalability and security is crucial.
Following the informative presentations, delegates engaged in interactive dialogues aided by polling questions. Through live audience interaction, participation, and the sharing of real-life experiences, this is intended to provide participants with professional learning and growth.
Delegates had the opportunity to learn from subject matter experts, exchange their experiences and bring back methods to their organisations.
Clarence Goh, Senior Vice President, Head of Process Development & Data Management, HSBC Singapore said that it is a holistically view if they combine with the appropriate partners and serve their clients better. He also believes in the centralisation of digital space. Tawan Jitavech, Chief, Technology Officer, Kasikornbank concurred with this perspective.
Kok Foong Lee, Senior Vice President, Technology and Operations, DBS Bank said various organisations have different needs and agreed on the importance of centralising digital space. Gaurav Gupta, Senior Vice President, Head of IT Audit Management and IT Regulatory Management, United Overseas Bank said digitisation improves the economy.
Fransiscus Kaurrany, Executive, Chief Architect Officer, Bank Central Asia agreed that it is all about priority and execution and making sure that the technology they are using is appropriate for their organisations. He cited that people is the most important to them because they are the one who will choose the technology.
On what their IT department’s most important priority is, about 42% said that building more resilient infrastructure and enabling enterprise-wide business capability was a priority. Over a quarter (28%) chose to better innovation and agility through digital maturity while 14% went with digital record-keeping to better support government legislation and improve and reduce maintenance costs.
For Joko Christianto, Head of IT Strategic Planning & Development Division, PT Bank Tabungan Negara documentation is important. Robert Malabao, Section Head, Internal Audit Analytics, BDO Unibank, Inc., believes that technology can hasten the development of a more robust business future.
Andrew Ooi, Head of Disaster Risk Recovery, CIMB Bank Singapore shared that innovation is the key to being successful in their industry. Wei Ling Tan, Senior Data Scientist, Maybank felt that employees’ experiences are important for her because the people will utilise technology effectively if they have the right skill set.
Johan Suparto, Head of Business Automation System, PT Bank Mega Finance is convinced that infrastructure is most important since customers would leave if they are unsatisfied with the products. Zafirah Muhamad Zulkapley, Head, IT Audit, Bank Rakyat shared that they aim to move forward and find the whole balance in the digital ecosystem.
Merlyn Nuguid Section Head, Information System Audit BDO Unibank, Inc. mentioned that businesses need to be very competitive with the other organisations’ Infrastructure and there is a high demand to scale up to digital maturity.
Looking for the key challenge delegates face when managing change in data/business requirements, over a third (36%) felt that employee skillsets were an issue, The next two issues were a lack of flexibility/agility and data governance framework in current systems (26%) and a reluctance to consider or adopt new technologies (21%). The remaining 15% were concerned about the time involved in making changes.
Jittrakorn Juthakan, Head of Cybersecurity/ Chief Information Security Officer, HSBC Thailand said that data is a major challenge for them, but they are confident in employee skill sets since individuals will work for the company.
The first step in modifying the role of risk functions in a modern organisation is to encourage teamwork and shared work practices. In digital transformation, people and procedures are the most important aspects. This would result in a massive opportunity to create long-term financial value for private companies and government agencies.
Although technology may significantly alter how an organisation operates, digitalisation cannot reach its full potential without a strong emphasis on change management.
Placing the right individuals in the proper roles is critical to an organisation’s success. They are the ones who make a company operate, thus it’s best to always value their talents and be assisted in learning how to use new technologies by their respective organisations.
Furthermore, numerous procedures are automated to improve the efficacy and precision of digital banking, enabling financial institutions to optimise their services and business models through digitisation and new technologies. To optimise and expedite payment processes, the financial services sector is under pressure to comply with new regulations and security concerns.
“Consider what technology fits your organisation and would not only deliver but also manage your needs,” Randy said.
He concluded his remarks by thanking the delegates and offering the support of his organisation, encouraging delegates to reach out to him and his team to explore further steps.
Enterprise transformation refers to a significant shift in the way a company conducts its day-to-day operations. This could involve adjusting an organisation’s fundamental technology, the structure of the company’s workforce or the way the company creates and markets its goods.
Enterprise transformation can take many different forms, one of the most prevalent of which is when an organisation makes a significant change in the products or services it offers. Currently, with digital technology, adjustments like this are occurring more frequently.
Companies are realising that they need to modify their approaches to meet the ever-evolving requirements of their customers as well as the consistently expanding standards set by their rivals.
Simultaneously, several Digital technologies, including Artificial Intelligence, the Internet of Things, Blockchain, Big Data, Virtual reality, Augmented Reality, Robotics and automation, among others, have the potential to transform how businesses operate. They can transform various functions of the value chain, such as logistics & supply, manufacturing, engineering, marketing, customer service, corporate management and support functions.
With their versatility and agility, these technologies can be deployed to numerous industries, among these are Healthcare, Food & Beverage, Manufacturing, Services and Mobility.
Innovative Business: What Lies Ahead?
“Businesses need innovation, not only for survival but for future growth,” says Vikram. “Innovation could emerge as product innovation, process innovation, service innovation or business model innovation to create a long-term sustainable advantage.”
Enterprises have been creating legacies based on research and development (R&D) which has LED them to incremental innovations. However, innovation is disruptive or transformational and it can be around product processes, services and business models.
Transformational innovation represents innovation that transforms businesses and innovates processes to create long-term sustainable, competitive, profitable business models. Disruptive innovation is targeted more towards identifying and inventing new mechanisms to solve existing and anticipated problem statements in businesses, which is also expected to have a business impact.
Many businesses do not distinguish between R&D and innovation. Enterprises today, however, are better able to distinguish themselves from one another and can understand and appreciate the impact that innovation has in comparison to R&D’s function.
R&D is an essential part of most businesses, and the benefits it brings are usually small and mostly limited to the people who work in R&D.
Innovation, on the other hand, isn’t just a function; it’s also a way of thinking for the whole organisation. It affects everything from the process to the product to the service to the business model, and the expected size of its effects is disruptive rather than incremental.
This further demonstrates how the current difficult business and economic environment has forced companies with lower levels of technology adoption and digital maturity to rethink their operations.
Enterprises can now assess the possibilities that technology integration may bring about, not only to address their current problem statements but also to consider new opportunities, whether it takes the form of a product, service, or business model.
There are a few common KPIs that should be measured regularly to gauge an organisation’s and its employees’ level of digital maturity. Vikram believes that because every organisation is unique, the KPIs used for assessments will vary.
For example, the key metrics for some common functions, like customer experience, data and insights, strategic and leadership, technology, operations, digital skill sets and so on, would need to be customised based on how they have changed and how they are changing now.
“We can get innovations which can predict based on the data analytics for the next 10 years,” Vikram reveals. “Every organisation should think out-of-the-box. Then they only need the right set of people who can guide them for the KPIs to be defined.”
Additionally, a variety of industries, including those in healthcare, food and beverage, manufacturing, services, FMCG, mobility, hospitality, and many more, can adapt to new technologies.
The following are crucial actions that businesses need to take today to digitally transform their futures:
- Identify your key employees’ level of digital maturity
- Research the technologies that are currently being used by the Enterprise’s various functions
- Select current issue citations
- Sort the problem statements according to priority
- Assess a system for locating, evaluating, and integrating digital technologies
- After a framework has been chosen and put into place, make the process iterative
- Establish it as the Enterprise’s mentality
Urban Ideas and Solutions Through LKYGBPC
When it comes to entrepreneurs who are truly pushing the envelope, Vikram is looking for certain characteristics. One of these is how the participants interact with businesses, which is determined by a unique set of criteria.
“And because we engage with various sets of parameters when looking at entrepreneurs, we can combine their efforts with those of the business,” Vikram explains.
Therefore, they bring the enterprise work and the entrepreneurs together when looking at the entrepreneurs, especially in the GHV DX LAB framework – they are the project managers and the system integrator for GHV.
The digital transformation, specifically the adoption of online business models and the general shift of economic and social activities online, particularly during the COVID-19 pandemic, has altered how economies operate, businesses function and societies interact.
The exploitation of data is the driving force behind the emergence of a new type of data-driven economy. It creates new opportunities for international cooperation to leapfrog the intermediate infrastructure of the industrial age, taking advantage of the new markets made available by digital platforms and the improved service delivery made possible by smart technologies.
In addition, the most effective mechanism in education would be to integrate innovation and entrepreneurship at the earliest possible stages of the educational system. In today’s context, entrepreneurship is about more than just passion, raising capital, or coding something; it’s about building a network around yourself to support your entrepreneurial journey. The network is critical.
Vikram spent sixteen years in Japan before relocating to Singapore and India to establish a business. He has realised that he must contribute significantly to society. For Vikram, LKYGBPC is a fantastic platform that can be an integral part of any entrepreneur’s entrepreneurial journey.
As opportunities for entrepreneurs are created through this platform, a global network of mentors and other ecosystem partners are integrated with LKYGBPC to focus on the entrepreneurs. “I think it’s a fantastic platform that is desperately needed right now, not just in the context of Singapore or Southeast Asia, but for the global market,” Vikram is convinced.
He believes that a combination of all these factors pushed him into the venture capital world. “I enjoy being a techie. But I’m enjoying my current role as a mentor to thousands of Asian entrepreneurs.”
Vikram has mentored over 1200 startups to date, including 3 that will soon be unicorns. He has personally invested in over 50 startups, and through the GHV Fund, he has invested in over 20 startups. “Every day, I learn something new and give it back to society in the same way.”
Building intellectual property (IP) rights has been the best part of his digital journey so far, and he hopes to keep doing this. “The level of self-satisfaction I feel is never as high as when I say IP is greater. You can make a lot of money consulting, but that doesn’t get me excited if you can’t create IP and work together. And that’s why what we’ve been doing around it can be great,” Vikram concludes.
The Department of Architecture under the National University of Singapore College of Design and Engineering (NUS CDE) opened the Architectural Conservation Laboratory (ArClab), a unique living laboratory housed in a conserved building which will serve as a site for researchers, graduate students and built heritage professionals to conduct a wide range of teaching and research activities on sustainable development of the built environment.
ArClab was established in January 2022 to achieve four key goals:
- augment the training capabilities of Singapore’s building industry in built heritage conservation;
- develop innovative use of technologies to enhance conservation;
- conduct high-impact research into broader conservation issues; and
- promote climate resilience and net-zero retrofit in historic buildings.
Over the next four to five years, ArClab will undertake the restoration of 141 Neil Road, a historic townhouse in the Blair Plain Conservation Area. The Portabella family, who owned the house, had recently donated it to the University, along with a gift of S$2 million, to support its repair and conservation works.
The Head of the NUS Department of Architecture and UNESCO Chair on Architectural Heritage Conservation and Management in Asia noted that as the first of its kind in Southeast Asia, the ArClab aims to be an exemplar and pedagogical demonstration of sensitive repair and conservation, adaptive reuse of heritage, and sustainable management of the historic environment.
The building’s conservation process will provide opportunities for both teaching and research. Using the conserved townhouse as a living lab, ArClab will showcase a new model for learning about the historic environment, building professional capacity to manage historical resources, and promoting historical and environmental studies.
The Deputy Dean (Research), the NUS College of Design and Engineering noted that ArClab is a timely endeavour that gathers expertise in engineering, design and architecture from the NUS College of Design and Engineering to preserve our history and build skills to address Singapore’s unique urban sustainability concerns.
Speaking at the opening of ArClab, the Minister for National Development and Minister-in-charge of Social Services Integration noted that he is excited to see ArClab become an engine to develop the knowledge of conservation practices and skills locally; develop heritage capacity building in Singapore and the region; support building owners in the maintenance and restoration of heritage buildings; grow Singapore’s overseas presence in built heritage and break new ground internationally and see how sustainability and liveability can be imbued inbuilt heritage.
Bring cultural heritage to life
One of the oldest buildings in the entire stretch of Neil Road, the historic house was built as part of the Everton Estate in the 1880s. The historic building contains a collection of decorative tiles depicting English Art Noveau and Chinese motifs. It is adorned with several auspicious Chinese character plaques in clerical and cursive font styles.
Housed within the historic building, ArClab will be a dynamic “classroom in the city” for students taking graduate programmes and doctoral studies in built heritage management. They will play a significant role in the repair and conservation works.
Students will learn and conduct research on areas such as traditional building materials and craftsmanship; the use of innovative technologies for repair works, energy efficiency and comfort; and net-zero retrofit in historic buildings. ArClab will also design and deliver advanced courses for professionals working in the field of built heritage.
The research will be conducted alongside teaching activities in the conserved building. NUS researchers will carry out various projects, including conducting research, documentation and restoration of Singapore’s heritage using innovative technologies such as 3D modelling; developing an integrated approach for energy efficiency and net-zero retrofit of Singapore’s historic buildings; testing and developing traditional building materials and techniques as well as using innovative technologies for conservation and repair works in the Singapore context; and estimating the impact of the high-density urban surroundings on the microclimate of historic districts.
A broad range of advanced equipment will be available for researchers and students to conduct holistic research and training.
The Indonesian government supports accelerating digital transformation in education by encouraging teaching staff to hone their digital skills. Research in 2020 showed that digital skill improvement could contribute IDR 4,434 trillion to Indonesia’s Gross Domestic Product (GDP) in 2030.
In light of this, the Ministry of Communication and Informatics (Kemkominfo) is eager to accelerate technology advancement in every sector to support Indonesia’s 2045 vision to become a sovereign and independent country.
The government recognises that educators need to have digital proficiency to overcome and adapt to teaching and learning that has transitioned from offline to online.
“We need to pay special attention to education and proficiency in digital technology. The 2020-2024 RPJMN (National Medium-Term Development Plan) has seen that digital transformation in national strategic sectors needs to be implemented and accelerated,” said the Director of Digital Economy of the Ministry of Communication and Information, I Nyoman Adhiarna in his remarks at the Digital Transformation Education Sector online seminar.
Based on the Ministry of Communication and Informatics development plan, education is one of the strategic sectors that will support national economic growth in 2020-2024. Moreover, the Directorate of Digital Economy endorses the plan as a programme enabler to support the Ministry of Education and Culture.
Throughout 2022 Kominfo has organised digital technology adoption programmes in the education sector in various locations in Indonesia. Covering Bali, Bintan Regency, Batam City, Sorong Regency, Biak Numfor Regency, Klaten Regency, Kendal Regency, Kuningan Regency, Medan City, Padang City and Tual City, Nyoman explained.
Meanwhile, the Regional Secretary (Sekda) of the Government of Kuningan Regency, West Java, Dian Rahmat Yanuar said the education sector digital technology adoption programme would expand teachers’ skills and knowledge and increase their confidence.
“The pandemic era was a challenge, as well as a momentum for us to declare ourselves to be more competitive in the future complex challenge, therefore teachers are required to adapt faster,” he shared.
New Curriculum to Boost Digitalisation
Kemkominfo has collaborated with the Ministry of Education and Culture (Kemendikbud) in driving the “Merdeka Mengajar” (Independent Teaching) platform as a new curriculum. The Executive Director of CERDAS, Indra Charismiadji, explained the new “Merdeka Mengajar” curriculum concept focuses on the learning process of students.
“The essence of differentiated learning is that it focuses on students as every student cannot be the same. Teachers need to know how to deal with these different students,” expanded Indra.
Other participants emphasised the importance of teachers providing relevant context in the learning process. Educators have to adopt different approaches when writing in academic media and on social media. They can become teacher influencers by trying new things.
The seminar entitled “Digital Transformation of the Education Sector” was organised by the Ministry of Communication and Information to celebrate National Teacher’s Day. The Ministry worked with provincial, district/city governments and all public and private schools to broaden the activities outreach.
The webinar discussed various problems in the learning system. In the event, participants discussed how to accelerate technological advancement and agreed that it requires teachers to adapt and maximise the use of technology to make better school learning.
Kominfo has given digital transformation top priority at the Indonesian G20 Presidency Summit in 2022. Mira Tayyiba, secretary general of the Ministry of Communication and Informatics, is concerned about the issue of digital transformation. The forum working groups discussed several digital issues, such as employment, discussing digital, education, health, and other topics.
The School of Business and Management of The Hong Kong University of Science and Technology (HKUST Business School) and The Institute of Sustainability and Technology (IST) signed a Memorandum of Understanding (MoU) to foster the partnership on ESG initiatives through education and technology. Both parties are working to accelerate the transition to a circular economy and drive innovation towards a net-zero future.
The Founder & Faculty Advisor of IST, Adjunct Professor of the Department of Management at HKUST and the Dean of HKUST Business School signed the MoU to affirm the strategic partnership. Industry leaders and business elites representing over 100 organizations joined to show their overwhelming support and commitment to sustainability.
The Chief Secretary for the Administration of HKSAR stated that Hong Kong, as an international financial centre connecting global capital with opportunities, has a unique role to play in addressing the world’s most pressing environmental and social challenges brought about by climate change.
By making a thorough effort including the issuance of green bonds, implementation of the Green and Sustainable Finance Grant Scheme and nurturing of talent, and leveraging its close partnership with relevant stakeholders, the HKSAR Government aims to develop Hong Kong into a green and sustainable hub in the region.
The Founder & Faculty Advisor of IST, Adjunct Professor of the Department of Management at HKUST said that to nurture the next generation of ESG talent, IST is working with HKUST to co-create a series of globally recognised executive training programs to inspire purpose-driven business management.
While striving for net zero by 2050, Hong Kong is uniquely positioned to maximize synergies with GBA cities to play a strategic gateway role as a regional green finance hub for sustainable investments and cross-border carbon trading. By deploying catalytic capital, innovation can be fuelled, and triple returns can be empowered via a thriving ecosystem for decarbonization technologies to accelerate the transition to a circular economy. By leveraging innovative technology, education initiatives and strategic collaboration, the net zero targets can be achieved.
The President of HKUST stated that the two parties both aim to guide the city towards a net-zero, sustainable future through education and technology. Through their core missions in research, teaching, and innovation, the next generation of talent is being nurtured into responsible professionals and leaders and contributing to solving pressing environmental and social issues.
The Dean of HKUST Business School noted that this partnership with IST supports Hong Kong’s brown-to-green transition through talent development and technology deployment. Marking a key event under this partnership, the ESG Forum familiarised participants with key aspects of ESG management through expert insights covering strategy, risks, benchmarking, and future trends. HKUST looks forward to pursuing a broad range of sustainability-related opportunities in training, research and development, and community engagement with IST.
An ESG Forum was held after the MoU signing ceremony. Various renowned academics and industry veterans participated in the forum, exchanged their views, and shared insights on ESG and sustainability.
About the Institute of Sustainability and Technology
To nurture the next generation of ESG talent, IST is partnering with HKUST Business School to co-create a series of globally recognised training programs for business executives. Catering to the diverse context of Asian markets, IST seeks to establish robust impact measurement and management methodology as well as ESG ratings and benchmark standards for different sectors across Asia Pacific. To promote thought leadership and best practices, IST sponsors interdisciplinary research studies to provide compelling data to advance the agenda for sustainable development. For more details about the Institute, please visit
Seven intelligent robots have been installed in the wards of Yishun Community Hospital (YCH) to welcome patients and bring supplies to the bedside. These brand-new Temi Robots, known as Angel, were introduced to support nursing care so that nurses could focus their time and energy on clinical tasks while still giving patients a personal and meaningful touch.
These robots are loaded with patient education materials that patients and their caregivers can easily access, in addition to providing announcements and reminders throughout the day in all four major languages.
They also have a variety of features like games and entertainment, teleconference tools, and translation capabilities. YCH hopes to further improve patient engagement and satisfaction in its wards with the new addition.
A pilot project using Nao Robots was also used by YCH in previous years to assist dementia patients in their rehabilitation. Robot Therapy, which was started by the staff at YCH in 2018, is now a part of the therapy-related services offered there.
YCH, which is conceived of as a healing space for patients, offers intermediate care for recovering patients who do not require the intensive care services of an acute-care hospital. With rehabilitation and therapy at the heart of the hospital’s mission, the team was eager to investigate the potential of the innovation, Robot Therapy.
Because they can perform a wide range of tasks with little to no value added, hospital robots offer a reliable solution, freeing up doctors, nurses, and surgeons to focus on more high-value work. Robots have become an integral part of the healthcare industry, with many hospitals now using them to perform both surgical and administrative tasks.
In addition, prior to the arrival of Nao Robots in Singapore, a few local nursing homes used Paro, a robot that mimics the appearance, movement, and sounds of a baby seal. The therapeutic robot seal’s use is like animal therapy in that the robot helps to calm elderly people who have dementia or a loss of cognitive function.
The Nao robot, on the other hand, came with higher expectations: it can express emotions like laughter or sadness during interactions; it can interact and communicate with patients in different languages; and it has optic, audio, and impact sensors and motors to detect surroundings, interpret detection, and activate programmed responses.
Various interaction and language modes can be programmed into the Nao robot. The YCH Robot Therapy team took advantage of this by incorporating the robot into specific therapy sessions. This increased efficiency freed up nursing time, which could then be used for other care activities. Nao robot therapy sessions were trialled with 48 patients from the Dementia ward in October 2018.
Patients with Behavioural and Psychological Symptoms of Dementia (BPSD) require more care and attention, so this was chosen as the pilot ward. By introducing the Nao robot, YCH has increased patient engagement, motivate them to engage in social activities, and shorten the time required for social activities so that caregivers could concentrate on other care-related tasks.
The implementation process was divided into three stages: training staff, selecting suitable patients and assessing seniors who participated in the Robot Therapy programme using the Observed Emotion Rating Scale.
Singhealth asserts that the COVID-19 pandemic, which hastened the adoption of these solutions and accelerated the digital transformation of healthcare systems globally, has sparked a tremendous interest in digital technology and virtual health solutions.
A group of clinician innovators from SingHealth sought to ascertain whether digital interventions are more affordable and provide patients with greater value and benefits in anticipation of this continuing upward trend, and they discovered that this may not always be the case for some eye conditions.
Officially launched on 29 November 2022, the ANU School of Cybernetics provides unrivalled teaching and research that pioneers a new approach to engineering and technology design. School Director, ANU Distinguished Professor Genevieve Bell, noted that the School nurtures and trains a new generation of critical thinkers and practitioners who can navigate an increasingly complex world and who are committed to ensuring safe, sustainable, and responsible technology futures.
She said the new School’s leadership is working hard to help transform the way society engages with technology. Their aim is to help ensure that everyone can participate in building the future. And they are working to find new ways to think about and talk about the role of technology in our lives. The ANU School of Cybernetics is dedicated to helping lead and enrich this vital conversation.
The School and its curriculum draw on the rich history of cybernetics globally and reimagine it for the 21st-century challenges. The goal is to make sure major societal transformations can be successfully navigated.
The ANU School of Cybernetics offers the Master of Applied Cybernetics, a PhD program that recruits students as a cohort, and a series of microlearning experiences for organisations, communities, and individuals.
The School’s research program investigates how emerging cyber-physical, technological systems – such as robotics, digital voice assistants, and autonomous systems – operate across a range of settings and sectors including the creative industries, marine sciences, agriculture, and climate change research.
Distinguished Professor Bell said another key focus of the School was examining who is building and managing our AI-enabled future. There is a need to develop the ability to respond quickly to changing situations and complex systems and many, diverse voices must be involved in making those decisions and building new knowledge, she said.
The last few years have shown that better stories about the future need to be told; stories that are more equitable, fair, and just, and that, equally, more work needs to be present to make those stories not just possible but true.
To help launch the School, an inaugural curated exhibition featuring more than 100 historical and contemporary pieces is on display until 2 December in the award-winning Birch Building on the ANU campus.
From the world’s first computer graphics, animations, special effects, and electronic music, Australian Cybernetic: a point through time explores 50 years of technology and creativity in computing that have influenced the technology, cinema, gaming, and television we know today.
The collection of interactive, immersive, and provocative creations also includes an Emmy Award-winning virtual reality film; an acclaimed installation examining the resources, human labour, and algorithmic processing of a virtual assistant technology system; and a kinetic sculpture named ‘Albert’ that has been delighting audiences for 54 years, among many other displays.
The cybernetic futures lead at the School said the exhibition speaks firmly to the School’s approach of observing the past to help shape a course for the role of technologies in today’s world. He noted that for the first time, historic, contemporary, and conceptual cybernetic works are being brought together in a unique exhibition. People are invited to take a tour through time and learn about the history of technology and art and how this contributed to cybernetics and the multimedia, tech and music enjoyed today.
Both in normal circumstances and in times of crisis, Thai people are known to generate a lot of innovative ideas and continue to develop products that make their lives better. This encompasses and encapsulates the nation’s most recent campaign, Innovation Thailand, which promotes Thai creativity to a global audience.
The Innovation Thailand Alliance consists of partners from a variety of sectors including government agencies, private organisations, educational institutions, and civil societies. Through it, the National Innovation Agency of Thailand (NIA), is expanding the scope of its Innovation Thailand platform.
The fundamental goal is to use national/local ideas to revitalise the nation by promoting awareness of and pride in inventive Thai works. Allies will serve as ambassadors in the effort to promote Thailand as an innovative nation. They will be able to exchange knowledge and skills with one another at the same time.
All stakeholders are enthusiastic to help Thailand achieve its goal of being one of the world’s top 30 innovative nations by 2030 and turning Thailand into an innovation-driven country.
Innovation Capabilities of Thai People
The National Innovation Agency’s mission is to support and develop Thailand’s innovation system to promote economic restructuring and competitive enhancement.
“We began the Innovation Thailand campaign before COVID-19 because we faced a significant challenge in terms of how not only Thai people but also global clients, perceive the nation’s unique products and services,” explains Dr Pun-Arj.
Even though this may not be directly related to innovation, the NIA has attempted to communicate and brand national innovation in such a way that it can be easily connected not only with Thais but also with international customers – this is how they started the Innovation Thailand platform.
Thailand is a tourist destination and one of the top three in the world, which has caused the country to innovate their lifestyle as well as their livelihood.
Thai culture places a high value on craftsmanship and attention to detail. Thai innovation for artful living is a process created exclusively by the fusion of modern technology and knowledge passed down from one generation to the next.
“We have created ingenious solutions through this method that enhances the standard of living in terms of society, prosperity, health, safety, and the environment,” Dr Pun-Arj furthers.
They began to construct a community to exchange ideas, develop, and manage innovation that would result in delivering some information or any significant strategic movement that the government could initiate.
They are recruiting more Chief Innovation Officers from not only the private sector but also the public sector and universities, as part of their primary target group.
Dr Pun-Arj is looking to enhance the opportunities brought in by innovation, particularly at the regional level in the city. This is because they are working not only on economic development but also on the skillset of the social innovation division and platform.
“As a result, our primary focus is on regionalisations of innovation possibilities, as well as startups – innovation-based firms,” reveals Dr Pun-Arj.
He believes that every successful community is built upon a robust and well-functioning infrastructure. Hence, Thailand’s industries and infrastructure will be modernised to meet upcoming challenges.
“In the past, one of our five-year priorities included buildings which we identify as system integrators. As the system and ecosystem become more robust, we are transitioning from system integrators to full core facilitators.”
He emphasised the need to consider the impact of being a system integrator before transforming themselves into focal facilitators. Furthermore, the country wants to make better use of the enormous resource of innovation in universities to conduct research and technology in collaboration with other organisations across the world.
Through the City Innovation Index, which focuses primarily on districts and cities, the NIA promotes and monitors the constant innovation and evaluation of diverse organisations. Periodically, they performed surveys in particular industries to evaluate and propose answers for the difficulties they face.
A strong innovation strategy will evaluate the overall objectives, the target portfolio for innovation initiatives, and the process for allocating the necessary resources. The portfolio clearly defines innovation-critical benchmarks and bounds. Therefore, the nation will become democratic and transparent.
“I believe the government’s most essential innovation strategy focuses on three specific concerns. You must have highly strong and capable businesses of all sizes that will establish a very strong enterprise on its own. And secondly, you must have laws and regulations,” Dr Pun-Arj asserts. “In addition, governance is also required and identifying future risks.”
Thailand is struggling with several issues, including inequality, which includes limited access to public services, digital technology, education, and environmental problems. High manufacturing costs and new types of competition in the global supply chain became challenges for Thailand, with this, innovation has emerged as the country’s answer.
Additionally, there are many challenges in terms of digital transformation and government service and the nation is pushing for innovation that can deliver a good policy and deploy it into practice.
In the previous five-year plan, NIA primarily focused on the job of system integrator into four core facilitators. “That is why the short-term strategy is to train management in the methods, programmes, and activities that we have implemented over the last five years.”
NIA is primarily concentrated on strengthening the potential of regional innovation in several key sectors such as new technologies, assistance for startups, venture capital creation or investment for innovation, and internationalisation of Thailand’s innovation.
Dr Pun-Arj envisions a stronger Thai economy and society, with innovation playing a key role in propelling it. The Bio-Circular-Green Economy (BCG) model is a plan for the country’s growth and post-pandemic recovery. The BCG model focuses on four strategic sectors: agriculture and food, wellness and medicine, energy, materials, and biochemicals and tourism and creative economy.
It emphasises using science, technology, and innovation to turn Thailand’s comparative advantage in biological and cultural diversity into a competitive advantage. The primary aim is to support the sustainability of biological resources, develop local economies and communities and make Thai BCG industries more competitive and resilient to societal changes.
The approach is meant to make Thailand’s economy, society, and environment more sustainable and inclusive. “To achieve the 2030 goal, we must work incredibly hard to encourage innovation in this BCG economy. At the same time, the national policy needs to be improved.”
Dr Pun-Arj has been recognised as a pioneer in the domains of foresight and innovation management in the country. He counsels anyone aspiring to be a great innovator to fully comprehend the concepts of uncertainty and failure.
“Innovation will help us grow as a community or nation by making ourselves and others aware of the importance of innovation,” Dr Pun-Arj concludes.