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ServiceNow recently released the results of its “The Global CIO Point of View”, and found that the adoption of machine learning is on the rise in the enterprise. However, it was revealed that Singaporean respondents are lagging behind their peers in Asia-Pacific, North America and Europe in adopting machine learning.
The report surveyed 500 CIOs from around the world with almost 10% from Singapore, to uncover the competitive benefits of adopting machine learning and hear how these leaders are accommodating digital labour, including creating new jobs that focus on work with intelligent machines.
A third (32%) of CIOs in Singapore surveyed said their organisation are using machine learning in some or all parts of their business, compared to counterparts in Australia (59%) and New Zealand (49%). 3 key areas were identified as barriers to adoption and maturation of automated decision making in their organisation:
· 70% of CIOs in Singapore cite outdated processes and insufficient data quality (65%) as a substantial barrier to adoption.
· 35% cite the lack of skills to manage and maintain smart machines, and a lack of budget for new skills (61%).
· Almost 40% of respondents in Singapore feel that there is a lack of budget allocated for new technology in their organisation.
More than half (52%) of CIOs in Singapore surveyed agree on the ability of machine learning to make complex decisions that are imperative to the success of their organisation, with 54% respondents citing that machine learning as a strategic focus for their organisation. The enthusiasm for this technology is driven by widely-held confidence by CIOs that greater automation through machine learning will increase the accuracy (80%) and speed of decisions (87%).
Machine learning software promise to analyse and improve its own performance without direct human intervention, giving it the ability to make increasingly complex decisions as it learns:
· 87% of Singapore CIOs cite profitability growth and top-line growth as the area that would benefit the most from decision automation over the next 3 years.
· 59% said that product development and research are automated to an extent but still requires substantial human intervention.
· 41% of CIOs expect decision automation brought about by machine learning to allow more room for developing new products and services for the organisation.
· 76% said that routine decision making takes up a meaningful amount of employee and executive time especially in departments like Finance and Human Resources (57%). CIOs in Singapore expect decision automation to contribute to their organisation’s employee productivity by 41%, and talent recruitment and retention by 35%.
The survey also found that 28% of CIOs in Singapore are making some investments in machine learning currently, and this number is expected to grow within the next few years as Singapore gears towards a Smart Nation. Half of CIOs in Singapore say that they are making organised changes to processes or leadership to prepare their organisation for machine learning adoption.
Machine learning is not just about the right technology – organisations must train employees to work with machines and redefine their job scope to accommodate the necessary skillsets, which are diverse across multiple disciplines from engineering to data science, critical thinking to problem solving.
Organisations in Singapore have shown that they are willing to make such changes to make rapid progress with machine learning:
· 17% of CIOs in Singapore have already set plans for workforce size and role changes within their organisation.
· More than half of CIOs in Singapore (52%) have begun to redefine job descriptions to include a focus on work involving intelligent machines – well ahead of Asia-Pacific peers in Australia (43%) and New Zealand (27%).
· Almost 40% of respondents said that they have developed a roadmap for future process change.
Achieving Value from Machine Learning
ServiceNow recommends five steps on how CIOs can jumpstart their journey to digital transformation with machine learning:
1) Build the foundation and improve data quality. One of the top barriers to machine learning adoption is the quality of data. If machines make decisions based on poor data, the results will not provide value and could increase risk. CIOs must utilise technologies that will simplify data maintenance and the transition to machine learning.
2) Prioritise based on value realisation. When building a roadmap, focus on those services that are most commonly used, as automating these services will deliver the greatest business benefits. At a high level, where the most unstructured work patterns that could benefit from automation? Commit to re-engineering services and processes as part of this transformation, and not simply lifting and shifting current processes into a new model.
3) Build an exceptional customer experience. A core benefit of increasing the speed and accuracy of decision-making lies in creating an exceptional internal and external customer service. When creating a roadmap to implement machine learning capabilities, imagine the ideal customer experience and prioritise investment against those goals.
4) Attract new skills and double down on culture. CIOs must identify the roles of the future and anticipate how employees will engage with machines – and start hiring and training in advance. CIOs must build a culture that embraces a new working model and skills. That means establishing guidelines for executives, engineers, and front-line workers about their work with machines and the future of human-machine collaboration.
5) Measure and report. The benefits of machine learning may be clear to CIOs, but other C-level executives and corporate boards often need to be educated on its value. CIOs must set expectations, develop success metrics prior to implementation, and build a sound business case in order to acquire and maintain the requisite funding. CIOs should also consider building automated benchmarks against peers in their industry and other companies that are of similar size.
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Artificial Intelligence (AI) stands at the forefront of technological innovation, promising transformative solutions to complex challenges across various domains. Recognising its potential to revolutionise industries and improve societal well-being, the National University of Singapore (NUS) has inaugurated the NUS AI Institute (NAII). Led by Professor Mohan Kankanhalli, NAII aims to accelerate AI research and its practical applications, fostering collaboration, innovation, and societal impact.
In an era marked by rapid technological advancements, AI has emerged as a powerful tool with the capacity to reshape diverse sectors, ranging from healthcare to finance, education, logistics, and beyond. The establishment of NAII underscores NUS’s commitment to harnessing AI for the greater good, addressing critical issues facing Singapore and the global community.
At the core of NAII’s mission is the advancement of fundamental AI research, aimed at pushing the boundaries of AI capabilities and exploring novel applications across various domains. Through foundational research initiatives, scientists at NAII will tackle complex AI problems, spanning hardware and software systems, AI theory, responsible AI, reasoning AI, and resource-efficient AI. By delving into these areas, the institute seeks to develop cutting-edge AI technologies that address real-world challenges and drive innovation.
Moreover, NAII will prioritise research into the ethical and societal implications of AI, aiming to develop robust governance frameworks that ensure responsible AI development and deployment. This includes examining issues related to transparency, accountability, and ethical decision-making in AI systems. By fostering dialogue and research on AI ethics and governance, NAII aims to guide the responsible use of AI technology and mitigate potential risks.
In addition to foundational research, NAII will spearhead applied research initiatives, focusing on developing AI-driven solutions for specific application domains. Collaborating with experts from diverse fields, including healthcare, logistics, manufacturing, finance, urban sustainability, and education, the institute will tackle pressing challenges and explore opportunities for AI-driven innovation. From optimising supply chains to improving healthcare outcomes and enhancing urban infrastructure, NAII’s applied research efforts aim to deliver tangible benefits to society.
Furthermore, NAII will serve as a hub for AI talent development, providing comprehensive education and training programs for students, professionals, and policymakers. By offering hands-on learning experiences and internships, the institute seeks to nurture the next generation of AI leaders and entrepreneurs, equipping them with the skills and knowledge needed to drive innovation in AI.
To support its research and educational endeavours, NUS has allocated significant resources to NAII, including external research grants and institutional funding. Moreover, the institute will collaborate closely with government agencies and industry partners to amplify its impact and drive innovation. Strategic partnerships with leading companies such as IBM and Google Cloud will enable NAII to leverage industry expertise and resources, accelerating the translation of research outcomes into real-world applications.
In alignment with Singapore’s Research, Innovation, and Enterprise (RIE) strategy, NAII aims to contribute to the nation’s AI ecosystem by fostering collaboration, innovation, and talent development. By positioning NUS as a global leader in AI research and application, the institute seeks to drive positive societal change and economic growth.
The establishment of NAII represents a significant milestone in NUS’s journey towards harnessing the power of AI for societal benefit. Through cutting-edge research, education, and collaboration, the institute aims to unlock the full potential of AI and pave the way for a more innovative, sustainable, and inclusive future. With its interdisciplinary approach and commitment to excellence, NAII is poised to make a lasting impact on Singapore and the global AI landscape.
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The Vietnam Posts and Telecommunications Group (VNPT) has reached a significant milestone with its artificial intelligence (AI) platform, VNPT eKYC, logging over 1 billion user authentication requests. This accomplishment solidifies VNPT’s position as a pioneer in electronic identification and verification solutions within Vietnam.
Since its inception, VNPT eKYC has been at the forefront of electronic Know Your Customer (eKYC) services for over five years, serving a diverse range of clients including banks, financial institutions, telecommunications companies, and e-commerce entities. With over 100 organisations utilising its services, VNPT eKYC has facilitated electronic identification for more than 40 million individuals across the country.
On average, the VNPT eKYC system processes an impressive 600,000 requests daily, with peak days witnessing over a million requests being handled seamlessly. This demonstrates the platform’s robustness and reliability in managing high volumes of authentication transactions efficiently.
The significance of VNPT eKYC extends beyond its technological capabilities, particularly in the context of evolving regulatory requirements. The State Bank of Vietnam’s decision mandating biometric authentication for transactions exceeding 10 million VND (approximately 416 USD) and other significant transactions from July 1, 2024, underscores the critical role of advanced authentication solutions like VNPT eKYC in ensuring compliance and security in financial transactions.
Moreover, the platform’s success highlights the increasing importance of domestically developed solutions in the banking and financial sector. Domestic solutions such as VNPT eKYC offer several advantages, including rapid implementation, cost-effectiveness, adherence to global technology standards, scalability, and high readiness to meet evolving regulatory requirements.
Central to the effectiveness of VNPT eKYC is its advanced AI models, which enable the verification of facial biometric data with an impressive accuracy rate of up to 99.99%. This high level of accuracy not only enhances the security of authentication processes but also contributes to building trust and confidence among users and regulatory authorities.
As Vietnam’s digital economy continues to grow and evolve, the role of advanced authentication and verification solutions like VNPT eKYC becomes increasingly indispensable. Beyond facilitating seamless and secure electronic transactions, these solutions contribute to enhancing the overall digital infrastructure and ecosystem of the country, paving the way for further innovation and economic growth.
Looking ahead, VNPT remains committed to advancing its AI platform and expanding its capabilities to meet the evolving needs of its clients and the regulatory landscape. With a strong focus on innovation, reliability, and security, VNPT eKYC is poised to play a pivotal role in shaping the future of electronic identification and verification in Vietnam’s dynamic digital economy.
VNPT’s achievement of logging over 1 billion authentication requests with its AI platform, VNPT eKYC, marks a significant milestone in Vietnam’s journey towards digital transformation.
Amid a swiftly changing global landscape, Vietnam emerges as a frontrunner in a digital revolution, strategically positioned to harness technology’s transformative power for economic progress and societal development.
It is embracing its digital transformation journey, highlighting collaborative efforts to drive the nation’s digital transformation. The nation’s digital technology industry aims to propel Vietnam towards high-income status by 2045 through technology mastery, innovation, and indigenous manufacturing capabilities.
Moreover, the nation is working to harmonise its regulations, streamline laws, and promote consistency in its legal framework to foster a more favourable and appealing cyber environment.
As the country continues to embrace technology-driven solutions to address emerging challenges, VNPT eKYC stands as a testament to the potential of domestic innovation in driving progress and excellence in the digital era.
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In a significant stride towards enhancing cybersecurity in the realm of consumer Internet-of-Things (IoT) devices, the Cyber Security Agency of Singapore (CSA) and the Connectivity Standards Alliance (Alliance) recently signed a Mutual Recognition Arrangement (MRA). This milestone agreement underscores a shared commitment to bolstering international cooperation and coordination in cybersecurity, with a specific focus on advancing the security standards of consumer IoT devices.
The MRA, signed by Mr Chua Kuan Seah, Deputy Chief Executive of CSA, and Mr Tobin Richardson, President & Chief Executive Officer of the Connectivity Standards Alliance, facilitates the mutual recognition of cybersecurity labels for consumer IoT devices.
By harmonising standards and procedures, the arrangement aims to reduce duplication in testing and costs for manufacturers, thereby fostering a more robust cybersecurity environment for consumer IoT devices globally.
Central to the MRA is the exchange and alignment of information related to relevant standards, requirements, and practices concerning the cybersecurity labeling of consumer IoT. This collaboration lays the groundwork for future developments in cybersecurity certification and labeling schemes, ensuring that evolving threats and technological advancements are adequately addressed.
Mr Chua Kuan Seah emphasised the significance of achieving global alignment for consumer IoT cybersecurity, citing it as a key objective since the launch of Singapore’s Cybersecurity Labelling Scheme in 2020. The agreement with the Alliance represents a significant step forward in this endeavor, bringing Singapore closer to its goal of establishing internationally recognised cybersecurity standards for IoT devices.
By promoting Cybersecurity-by-Design and Cybersecurity-by-Default principles, the MRA incentivises manufacturers to embed robust security measures into their IoT devices, ultimately enhancing cybersecurity for consumers worldwide.
The Connectivity Standards Alliance, formerly known as the Zigbee Alliance, is a consortium of companies devoted to developing standards envisioning seamless interaction to enhance daily experiences. With a membership of over 500 companies, the alliance collaboratively creates application profiles for interoperable products, thereby advancing IoT connectivity and fostering innovation in the industry.
Singapore remains deeply committed to bolstering cybersecurity measures both domestically and internationally. At the national level, initiatives are aimed at fortifying the nation’s digital defences, safeguarding critical infrastructure and protecting citizens and businesses from cyber threats. These efforts include the implementation of robust cybersecurity frameworks, regular cybersecurity exercises and drills, and the promotion of cybersecurity awareness among the populace.
The Cyber Security Agency of Singapore (CSA) plays a pivotal role in safeguarding Singapore’s cyberspace to bolster national security, support the digital economy, and protect the digital way of life. Through initiatives like the Singapore Cyber Emergency Response Team (SingCERT), CSA swiftly responds to cybersecurity incidents, ensuring the detection, resolution, and prevention of cyber threats.
As part of the Prime Minister’s Office and managed by the Ministry of Communications and Information, CSA oversees national cybersecurity functions, collaborates with sector leads to protect critical information infrastructure, and engages stakeholders to raise cybersecurity awareness.
OpenGov Asia reported that Singapore, represented by CSA, collaborates closely with ASEAN Member States (AMS) to establish the ASEAN Regional Computer Emergency Response Team (CERT), facilitating information-sharing and enhancing cybersecurity incident response coordination across the region.
Despite a significant increase in scam cases by nearly 50% to 50,376 in 2023 from 33,669 in 2022, proactive cybersecurity measures have led to a positive outcome. These positive trends are attributed to collaborative efforts among various agencies and stakeholders, including the Singapore Police Force, Infocomm Media Development Authority, Cyber Security Agency of Singapore, Smart Nation Group, Monetary Authority of Singapore, and private sector partners.
Singapore’s proactive efforts, including the proposal to host and fund the ASEAN Regional CERT’s physical activities, demonstrate its commitment to fostering regional cooperation and safeguarding critical information infrastructure on a transnational scale.
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In a significant development, the Telecom Regulatory Authority of India (TRAI) released a comprehensive set of recommendations on the usage of embedded SIM (eSIM) for Machine-to-Machine (M2M) communications. This comes at a crucial juncture, as the proliferation of IoT devices and the imminent rollout of 5G services underscore the pressing need for clear regulatory frameworks to govern emerging technologies.
Prompted by a directive from the Department of Telecommunications (DoT), TRAI embarked on an extensive consultative process to solicit insights from stakeholders and industry experts. The formulation of these recommendations began with a consultation paper on ‘Embedded SIM for M2M Communications’ on 25 July 2022. TRAI then fostered extensive stakeholder engagement, including submissions and a virtual open house discussion on December 14, 2022, ensuring broad participation and inclusivity.
Against the backdrop of rapid technological advancement and evolving consumer needs, TRAI’s recommendations aim to address key challenges and opportunities in the realm of M2M communications. At the heart of these recommendations lies a dual commitment to fostering innovation and safeguarding consumer interests.
By delineating clear guidelines for the deployment and management of eSIM technology, TRAI seeks to lay the foundation for a robust and resilient M2M ecosystem that promotes transparency, security, and interoperability.
Central to TRAI’s recommendations is the imperative of ensuring robust security measures across the M2M value chain. Recognising the inherent vulnerabilities associated with IoT devices and the potential ramifications of security breaches, TRAI underscores the importance of implementing stringent Know Your Customer (KYC) protocols. By mandating proper verification procedures for device activation and subscription management, TRAI aims to mitigate fraud risks, safeguard network integrity, and enhance consumer trust in M2M communications.
TRAI’s recommendations encompass a comprehensive framework for profile switching of eSIMs and swapping of Subscription Manager-Secure Routing (SM-SR), thereby enhancing flexibility and choice for consumers. By enabling seamless transitions between different network providers and service plans, these provisions empower consumers to optimise their connectivity experience while promoting healthy competition within the telecom sector.
The rollout of 5G services in India has ushered in a new era of connectivity, unlocking unprecedented opportunities for innovation and economic growth. Against this backdrop, TRAI’s recommendations seek to capitalise on the transformative potential of M2M communications across diverse sectors such as agriculture, transportation, healthcare, and industrial automation.
Streamlining the regulatory landscape for M2M eSIMs will facilitate the seamless integration of IoT devices into existing networks, thereby catalysing the development of smart infrastructure and digital ecosystems.
Key stakeholders, including Unified Access Service License holders, Unified License holders, and M2M Service Providers, are envisioned to play pivotal roles in the implementation of these recommendations. By fostering collaboration and partnership between industry players, TRAI aims to ensure the effective deployment and management of eSIM technology, thereby enabling the realisation of India’s vision for digital self-reliance and technological sovereignty.
However, the journey towards realising the full potential of M2M communications is not without its challenges. TRAI acknowledges the complexities inherent in implementing these recommendations, particularly in the context of India’s diverse and dynamic telecom landscape. In this regard, TRAI has refrained from permitting the use of 901.XX IMSI series allocated by the International Telecommunication Union (ITU) for M2M services in India, citing the need for a phased approach towards adoption and implementation.
TRAI’s recommendations represent a significant milestone in India’s journey towards harnessing the transformative potential of M2M communications. By providing a clear regulatory framework for the deployment and management of eSIM technology, TRAI seeks to foster innovation, promote consumer welfare, and advance the nation’s digital agenda.
As stakeholders gear up to embrace these recommendations, India looks to emerge as a global leader in M2M communications, driving sustainable development, and inclusive growth in the digital era.
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In a significant advancement in health technology, scientists at Nanyang Technological University, Singapore (NTU Singapore), have unveiled a revolutionary device capable of rapidly isolating blood plasma with unparalleled precision. Named ExoArc, this coin-sized chip offers a transformative alternative to the cumbersome and time-consuming multi-step centrifugation process currently used in diagnostics and precision medicine.
ExoArc’s innovation lies in its ability to directly isolate blood plasma from a tube of blood in just 30 minutes, eliminating the need for labour-intensive centrifugation. By leveraging unique flow phenomena in tiny channels within the chip, ExoArc achieves high plasma purity, removing over 99.9% of blood cells and platelets precisely and gently.
This breakthrough technology accelerates the clinical analysis of cell-free DNA, RNA molecules, and extracellular vesicles, which are vital for screening biomarkers indicative of various cancers and diseases.
Traditionally, blood plasma isolation has relied solely on centrifugation, a method prone to residual cell contamination and time-sensitive processing constraints. Even after multiple centrifugation rounds, lingering biological cells can compromise the accuracy of diagnostic tests, prolonging waiting times for results and exacerbating patient anxiety.
ExoArc’s streamlined process significantly reduces contamination risks, enabling quicker and more precise diagnoses, particularly crucial in cancer treatment and disease management.
To validate ExoArc’s efficacy, a portable prototype device was developed in collaboration with clinician-scientists from the National Cancer Centre Singapore (NCCS), Tan Tock Seng Hospital (TTSH), and the Agency for Science, Technology and Research (A*STAR). Clinical validation demonstrated ExoArc’s ability to diagnose non-small cell lung cancer with a sensitivity of 90%, highlighting its potential for real-world applications.
Furthermore, ExoArc’s versatility extends beyond cancer diagnostics, as demonstrated in studies involving microRNA analysis in individuals with type 2 diabetes mellitus. By identifying distinct microRNA profiles, ExoArc holds promise in identifying disease-related biomarkers and driving precision medicine initiatives, offering tailored treatments and improving patient outcomes.
In contrast to conventional centrifugation methods, ExoArc’s compact size and scalability present a transformative approach to blood plasma isolation. Its one-step process reduces processing time and operator variability, paving the way for automated and standardised diagnostic procedures. Moreover, ExoArc’s potential for scaling up through multiple channels ensures faster and more consistent plasma isolation, with future automation promising further efficiency gains and cost reductions.
Supported by a Proof-of-Concept and Proof-of-Value grant from the NTUitive Gap Fund, ExoArc epitomises NTU’s commitment to translating research into practical innovations with societal impact. With contributions from esteemed institutions such as the Massachusetts Institute of Technology and the University of Texas Medical Branch (Galveston), ExoArc’s development underscores collaborative efforts in advancing healthcare technology.
ExoArc represents a significant leap forward in health technology, offering a paradigm shift in blood plasma isolation for diagnostics and precision medicine. As ExoArc continues to evolve, its potential to enhance patient care and drive medical advancements holds promise for a healthier future globally.
NTU Singapore has positioned itself at the vanguard of deploying cutting-edge technology within the healthcare sector, striving relentlessly to pioneer advancements that not only enhance patient outcomes but also revolutionise the overall healthcare experience.
OpenGov Asia reported that a team of researchers from NTU Singapore developed WellFeet, a mobile application designed to provide comprehensive support for individuals living with diabetes. WellFeet educates patients and caregivers about the disease while assisting them in monitoring medication adherence, physical activity, and dietary habits, addressing the myriad challenges associated with diabetes management.
WellFeet offers tech-enabled support for individuals with diabetes and their caregivers, serving as a vital source of empowerment and assistance. As Singapore tackles its diabetes epidemic, initiatives like WellFeet pave the way for transformative healthcare solutions with the potential to change lives.
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As the rapid advancement of artificial intelligence (AI) technologies continues to reshape the world, the need for responsible governance and oversight has become increasingly evident. In a landmark decision, the United Nations General Assembly has taken a pivotal step forward in the regulation and promotion of artificial intelligence technologies with the adoption of a groundbreaking resolution.
Led by the United States and co-sponsored by over 120 Member States, this resolution underscores the imperative of developing and utilising AI systems that are not only technologically advanced but also safe, secure, and trustworthy. At its core, the resolution seeks to harness the transformative potential of AI while upholding fundamental human rights and advancing sustainable development goals on a global scale.
The adoption of this resolution represents a significant milestone in international efforts to navigate the complex landscape of AI governance. For the first time in its history, the General Assembly has formally recognised the need to regulate the burgeoning field of AI, acknowledging its profound impact on societies worldwide. The resolution serves as a testament to the growing recognition of AI’s potential to drive progress across various sectors, from healthcare and education to economic development and environmental sustainability.
Central to the resolution’s principles is the paramount importance of upholding human rights in the development and deployment of AI systems. It emphasises the need to respect, protect, and promote human rights throughout all stages of the AI lifecycle, including design, development, deployment, and usage. By affirming the principle that the same rights enjoyed offline must also be safeguarded online, the resolution underscores the necessity of accountability and ethical governance in the realm of AI.
Furthermore, the resolution highlights AI’s role in advancing sustainable development goals, recognising its potential to accelerate progress towards achieving the ambitious targets set forth by the United Nations. By harnessing the power of AI-driven innovation, Member States can unlock new opportunities for inclusive growth, enhance access to essential services, and address pressing global challenges such as poverty, inequality, and climate change.
A key aspect of the resolution is its call for collaboration and cooperation among Member States and stakeholders to bridge the technological divide and ensure equitable access to AI technologies. Recognising the varying levels of technological development between and within countries, the resolution urges support for developing nations to help them leverage AI for inclusive and sustainable development. By closing the digital divide and enhancing digital literacy, Member States can empower individuals and communities to fully participate in the digital economy and society.
Speaking before the adoption of the resolution, US Ambassador and Permanent Representative to the UN, Linda Thomas-Greenfield, underscored the importance of governing AI technology responsibly. She emphasised the opportunity and responsibility of the international community to shape the future of AI, ensuring that it aligns with principles of humanity, dignity, safety, and security. Thomas-Greenfield called for a collective commitment to using AI as a tool for advancing shared priorities and closing digital disparities, thereby fostering a more equitable and inclusive world.
The adoption of this historic resolution by the UN General Assembly marks a significant milestone in the global dialogue on AI governance. By promoting the development and use of safe, secure, and trustworthy AI systems, Member States are laying the groundwork for a future where AI serves as a force for positive change, driving sustainable development and advancing human well-being. As we embark on this transformative journey, it is imperative that we remain vigilant in safeguarding human rights, promoting ethical AI governance, and ensuring that the benefits of AI are shared by all.
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In a world where addressing climate change has emerged as one of the defining challenges, innovation and digital transformation have the potential to combat climate change and accelerate the transition to a sustainable future.
Government officials, academics, and business leaders gathered at the SGFIN Sustainability Summit in Singapore to delve into the intersection of technology and finance, aiming to combat climate change and expedite the shift towards a sustainable future.
Deputy Prime Macinaister Heng Swee Keat, in his opening remarks, underscored the urgent need for collective action to address climate change, emphasising its global repercussions. From extreme weather events to rising sea levels, the impacts of climate change are felt across borders, disrupting economies and threatening livelihoods. In Singapore, where temperatures have risen steadily over the past four decades, the imperative for action is particularly acute.
Singapore has positioned itself as a leader in sustainability, committed to achieving net-zero emissions by 2050 outlined in the Singapore Green Plan 2030. This comprehensive roadmap encompasses a wide range of initiatives, including increasing the deployment of solar energy, enhancing green infrastructure, and implementing measures to reduce water consumption and waste generation.
GovTech, as the public sector’s centre of excellence for info-comm technology and smart systems (ICT&SS), is spearheading efforts to decarbonise public sector technology as part of the nation’s commitment under the Singapore Green Plan 2030.
Among GovTech’s initiatives are ensuring environmental consideration throughout the lifecycle of products and services with the GovTech Sustainable Digital Value Chain. This involves assessing and minimising environmental impacts from creation to disposal.
Additionally, GovTech provides energy-efficient data centres and cloud hosting options certified with Green Mark Platinum to meet the consolidated needs of the entire government more efficiently through its Green Government Hosting initiative.
Key initiatives include offering digital alternatives to physical transactions such as tele-conferencing and digital business cards through the Digital Workplace, centralising energy-efficient data centres to support agency server room consolidation, and developing secure government cloud solutions to accelerate the adoption of modern cloud capabilities through Government Hosting Consolidation and Cloud Migration.
GovTech is also actively exploring Green IT tools to augment software development processes and reduce carbon emissions with its Green Software initiative. Furthermore, GovTech is developing an Open Digital Platform for smarter district planning in the Punggol Digital District. This platform is expected to reduce energy and water consumption by up to 30% compared to the national average, showcasing the country’s commitment to driving sustainability through technological innovation.
Deputy Prime Minister Heng highlighted the importance of embedding sustainability across all sectors of the economy, noting the role of initiatives such as mandatory climate-related disclosures for listed companies in driving progress.
Finance plays a pivotal role in driving the transition to a low-carbon economy, serving as a critical enabler of climate action. Deputy Prime Minister Heng outlined Singapore’s efforts to mobilise financial resources for green investments, citing initiatives such as the Finance for Net-Zero (FiNS) Action Plan and the Singapore-Asia Taxonomy for Sustainable Finance.
These initiatives aim to provide investors with clarity and transparency regarding sustainable investments, thereby reducing the risks of greenwashing and facilitating the flow of capital towards climate-friendly projects.
Deputy Prime Minister Heng outlined strategies to mobilise finance for climate action, emphasising talent pool enhancement in sustainable finance, robust regulatory standards, and urging the use of venture capital for innovative climate solutions, aligning with Singapore’s research and innovation focus.
As nations continue to exchange ideas and forge partnerships, collaboration is key, paving the way for transformative change and a more sustainable future powered by innovation and financial ingenuity. It is through such collective efforts that the world can hope to overcome the challenges of climate change and create a better world for future generations.