share this article!

At Marina Bay in Singapore, a cyclist rides in front of the city skyline. Getty Images | Roslan Rahman | AFP Singapore (Singapore) — Deputy Prime Minister Heng Swee Keat stated on Tuesday that Singapore will invest $50 million in a program to boost AI and cybersecurity research for future communications structures. Singapore wants to establish new communications testbeds in 5G and beyond-5G, assist technology development, and cultivate a local talent pool as part of the Future Communications Research & Development Programme. The fifth generation of high-speed mobile internet, known as 5G, seeks to provide faster data rates and more bandwidth to handle increasing web traffic. The rapid development and global deployment of 5G networks support many new technologies, such as self-driving automobiles. Singapore, on the other hand, intends to have full island-wide standalone 5G coverage by 2025. Heng said at the Asia Tech x Singapore conference that the program will “assist AI and cybersecurity research for next-generation communications infrastructures.” “It will support testbeds for novel pilots and grant scholarships for students interested in communications research,” it says. I believe the fast-growing digital economy may move us to a better future, just as globalization propelled decades of economic prosperity around the world. Heng Swee Keat (Heng Swee Keat) is a Singaporean The deputy prime minister of Singapore According to Heng, who is also Singapore’s coordinating minister for economic strategies, the program would attempt to strengthen international alliances and cross-border collaborations. Supply chain digitization Singapore will also launch the Singapore Trade Data Exchange, or SGTraDex, a digital exchange. Multiple stakeholders, such as logistics players, shippers, and buyers, would be able to communicate vital information such as real-time cargo locations. The data is believed to be encrypted and sent over the internet without being kept. The effort is expected to eliminate considerable inefficiencies in the supply chain’s flow of commodities. Logistics and shipping industries, for example, would be able to improve cargo handling and operations. “Based on the results of the trials thus far, SGTraDex has the potential to release more than $150 million in value for the supply chain ecosystem each year,” Heng said. He noted that it will help speed up customs clearance, trade financing, insurance, and other associated procedures. SGTraDex is identical to the Singapore Financial Data Exchange, or SGFinDex, which was introduced last year. It lets users to log in with their national digital identification and access their consolidated financial data from participating banks and government organizations on a single platform, including deposits, credit cards, loans, and investments. Unleashing the full potential of your business Heng emphasized that the ability to allow data to flow securely and seamlessly can assist governments in realizing the full potential of digitization. According to a report by Google, Temasek Holdings, and Bain & Company, Southeast Asia’s digital economy is rapidly expanding, with internet sectors anticipated to exceed $300 billion by 2025. As a result of the coronavirus epidemic, many businesses, large and small, were forced to change their presence online in the face of societal restrictions and lockdowns. “I believe the fast-growing digital economy can propel us to a better future,” Heng said. “Just as globalization drove decades of economic progress around the world, I believe the fast-growing digital economy can propel us to a better future.”/nRead More

share this article!