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How Singapore is winning at digital transformation

Source | Techrevolution.asia.com  |  BY:Daniel Tan, Executive Director, Global Accounts

By digitising a traditionally analog business model or process, we’re effectively turning it into bits and atoms and enabling an infinite variety of possibilities.—Nicholas D. Evans, Mastering Digital Business

Digital transformation is sweeping across the world. It has changed the way we shop. It has changed the way products are delivered to us. It has changed the way we interact with businesses. Digitisation has affected every sector from government and education to medicine and retail. It effects everyone from the individual consumer to the small business to large manufacturers to government. This is why countries that successfully undergo digital transformation are seeing significant benefits at every level. In Asia, Singapore is outshining every other country when it comes to creating a strong and stable digital infrastructure. In fact, they are ranked first on the Asian Digital Transformation Index.

 

The Digital Transformation That Singapore’s Businesses Are Relying On

Across every form of digital transformation, businesses in Singapore are leading the way. As previously mentioned, when it comes to overall digital transformation, Singapore is ranked number one in Asia. More specifically, they are ranked number one in digital infrastructure, fourth in human capital, and second in industry connectivity. Roughly half of the businesses in the country rely on analytics tools and nearly half have utilised IoT in some way. Cloud usage is up to a third of businesses in Singapore, 45% of companies are involved in at least five digital partnerships, and more than half of the businesses in the country are actively working in open innovation communities that help them develop new ideas.

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