- Kyle Chua
SGTech Launches New Digital Trust Initiatives at Global Future Series 2023
Updated: Dec 18, 2023
SGTech has launched several new initiatives during its Global Future Series 2023 to affirm Singapore as the Global Digital and Data node built on trust.
Those initiatives are centred on digital transformation and sustainability and digital trust, which is also the core focus of this year's Global Future Series, with the theme "Tech and Trust: Achieving Sustainability in the Digital Age". The annual event features a panel of experts of prominent association members like Microsoft, Thoughtworks, Mastercard and Meta, among others.
Digital trust is, as defined by the tech trade association, "the confidence participants have in the digital ecosystem to interact securely, in a transparent, accountable and frictionless manner". In essence, it involves stakeholders' creating a digital space that's safe for individuals to transact and interact in.
To strengthen digital trust in the Singapore, SGTech in cooperation with the APEC Business Advisory Council (ABAC) announced the formation of the SGTech Digital Trust Centre of Excellence Advisory, building upon the establishment of the Digital Trust Centre of Excellence (DT COE) in 2022.
This Advisory will bring together global business leaders and thinkers, who will drive the discourse around digital trust and explore important topics in the tech space. It'll serve as a sounding board for ABAC's digital and innovation agenda, offering insights on regional priorities and recommendations to be presented to APEC Leaders and Ministers yearly.
The esteemed group will be composed of industry leaders from companies and organisations like The World Bank,
Crimson Logic, Microsoft, Thoughtworks, Easy Crypto Global, Oracle and Mastercard, to name a few. They'll be led by Mr Wong Wai Meng, who's currently the Chairperson of SGTech and the CEO of Keppel Data Centres, with the current Chairperson of the ABAC Digital & Innovation Working Group, Ms Jan De Silva, supporting him as Co-Chair.
SGTech has also commissioned a new thought leadership study that looks to address the challenges and opportunities surrounding digital trust, cybersecurity and data governance and the workforce surrounding them. The study is yet to be completed but initial findings revealed that improved digital trust would increase certain performance indicators between 14% to 17%, including the combating cybersecurity incidents, customer loyalty, market share and cost efficiencies, among some examples. At the economy level, improved digital trust will be part of the foundation that can attract investment and talent, along with build a leading tech and business hub. The study will also outline frameworks needed for companies to cultivate career professionals that can promote the concept of digital trust, as well as explore how relevant government agencies can help them. The target is to have the study published before the end of 2023.
Apart from digital trust, SGTech additionally launched initiatives around digital transformation and sustainability.
One such initiative is the Digital Economy x Sustainability (DeSus) Research Study, a research project that will bring together business and industry leaders to explore the economic implications of the synergy between digitalisation and sustainability.
Another is the DT-SME Programme, an initiative that looks to equip small and medium-sized enterprises (SMEs) with the necessary tools and strategies to undergo robust digital transformation. What sets this new initiative apart from those that came before is that it adopts a strategic, holistic approach to digital transformation and leverage SGTech's
interconnected ecosystem of strong community support which covers consultants, solutions providers and mentors.
"Through structured training sessions, SMEs develop a customised business transformation strategy," said Ms Low Yen Ling, Minister of State, Ministry of Trade and Industry (MTI) and Ministry of Culture, Community and Youth (MCCY). "They subsequently implement their digitalisation plan with the support of solution providers that are best matched to their business needs."
SGTech has launched several new initiatives during its Global Future Series 2023 to affirm Singapore as the Global Digital and Data node built on trust.
Those initiatives are centred on digital transformation and sustainability and digital trust, which is also the core focus of this year's Global Future Series, with the theme "Tech and Trust: Achieving Sustainability in the Digital Age".
One such initiative is the formation of the SGTech Digital Trust Centre of Excellence Advisory, building upon the establishment of the Digital Trust Centre of Excellence (DT COE) in 2022.