S Iswaran, Singapore’s Minister for Communications and Information will co-chair a new ministerial committee for digital transformation with Chan Chun Sing, the Singapore Minister for Trade and Industry.
It is no secret that the COVID-19 pandemic has accelerated the adoption of a digital culture worldwide. Governments have imposed lockdowns and movement controls as preventive measures against the deadly outbreak. Urged to stay home and practice social distancing – people are now working from home, buying groceries online and using digital wallets. It seems like almost everyone has become a digital native. ASEAN member states are no exception.
While ASEAN is increasingly coordinating its efforts to reinforce regional cybersecurity, more needs to be done to address the constantly evolving threats.According to a recent World Economic Forum (WEF) report, one of the biggest concerns in regards to the current COVID-19 crisis is the increase in cyberattacks and data fraud. The pandemic has accelerated the adoption of a digital culture worldwide.
Ant Financial, the Chinese operator of Alipay, announced its plans to invest US$73.5 million for a minority stake in Digital Money Myanmar Limited, a fintech company based in Myanmar locally known as Wave Money, the companies announced in a press release.Wave Money, a mobile financial services provider, allows users to send and receive money through a network of more than 57,000 agents or “Wave Shops” distributed across urban and rural areas covering approximately 89 percent of the country.&a
The COVID-19 coronavirus has tremendously impacted livelihoods, local industries and the economy in general. Governments around the world have imposed strict measures to contain the virus such as travel curbs and restricted movements. Currently, about half of humanity is under some form of lockdown or other. To date, nearly four million people have been infected with the deadly new coronavirus, taking with it over 270,000 lives.
“One Vision, One Identity, One Community.” That’s the motto of the Association for Southeast Asian Nations (ASEAN), a regional intergovernmental organisation made up of 10 countries: Brunei, Cambodia, Indonesia, Lao, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. The goal of regional cooperation is to facilitate common interests, unifying the region through mutual cooperation while simultaneously recognising each country’s cultural, social and economic identity.
The dangers of corporations owning large amounts of personal data have been heavily debated in recent years with no real solution to the issue.Data has been branded the new currency in the world.
With major cities in full or partial lockdown, China is preparing for unprecedented market fluctuations as fear of the novel coronavirus amplifies and the death toll soars to over 560 – nearly double the death toll in mainland China from the severe acute respiratory syndrome (SARS) virus that broke out in 2002.As airlines halt flights, stores close and businesses scale back their operations, China's economy is at risk of major setbacks.
China’s digital transformation is touted by many economists and trade experts as the single largest contributor to the country’s gross domestic product (GDP) growth between now and 2025. That explains why most companies in China are transitioning from traditional ways of doing business to more efficient digitised business models. This transition is precipitating many changes, most notable of them all being the adoption of a customer-centric management style.
In China, millions enter public transportation each day using smartphones, pay for breakfast with WeChat, and use an app to have lunch delivered hours later. They work at offices that leverage blockchain, Artificial Intelligence (AI), robotics, and cloud computing. They book restaurants for dinner over the internet and late-night shop on the train.Much of this has been enabled by rising smartphone adoption.
As the world continues to globalise at a rapid pace, the demand for better and more efficient technology will skyrocket. One of the players feeding that growing demand has been India.According to government statistics, the information technology (IT) sector accounts for 45 percent of India’s services exports and 9.3 percent of its nearly US$2.3 trillion gross domestic product (GDP).
As ASEAN moves into the future, the regional bloc is faced with two trends – digitalisation and urbanisation. While urbanisation can be seen as a positive thing, there are also possible spill over effects if not mitigated properly.