While consumers across ASEAN are excited about 5G’s promise of faster home broadband speeds and mobile internet connections, it is the technology’s low network latency and power consumption that offers a variety of opportunities for businesses.About 20 times faster than 4G, everything from instant high-definition movie streaming to cloud gaming will be less than seconds away once 5G is commercially available across the region in the next few years.
With the advancement of smart technologies and digitalisation, it seems like the world is rapidly moving into the era of the Fourth Industrial Revolution or Industry 4.0. The industrial Internet of Things (IIoT) market, which some have called Industry 4.0, describes the widespread integration of information and communication technology (ICT), particularly cyber-physical systems (CPS), in industrial manufacturing.No industry is immune to the disruptions brought about by digital technologies.
COVID-19 lockdowns may be gradually easing, but anxiety about the world’s social and economic prospects is only intensifying. There is good reason to worry: a sharp economic downturn has already begun, and we could be facing the worst depression since the 1930s.
The World Economic Forum (WEF) has released its Global Social Mobility Index 2020. Social mobility entails the “upward” or “downward” movement of an individual in relation to those of their parents. Essentially, it evaluates a child’s ability to experience a better life than their parents, while relative social mobility examines how an individual’s socio-economic circumstance inherited at birth has affected their outcome in life.
It was recently reported that the United Nations Development Program (UNDP) had launched an initiative to connect Cambodia’s public service sector digitally with that of other countries.
Malaysia is on the verge of fully entering the Fourth Industrial Revolution (4IR) as embodied by digitalisation alongside adopting the 5G technology pioneered by Huawei.
Indonesia has a big problem in facing the challenges of the 4th Industrial Revolution. The quickly evolving landscape and potential requirements on the country’s skilled workforce is becoming a major concern. Indonesia, ASEAN’s largest economy, could be running out of time to equip its people with the necessary skills, attitudes and knowledge to stay competitive. The country has already highlighted a talent shortage of more than 50 percent as its biggest concern.
We see them in the business district and in the suburbs; on the streets, in our apartment blocks and offices. The food delivery riders with brightly coloured backpacks advertising the logos of their operators, Gojek, Grab, Foodpanda and Deliveroo amongst others, on their missions to deliver lunch or dinner to ASEAN’s hungry workforce. This would not come as a surprise particularly to consumers of the millennial generation.
Several ASEAN countries are facing the problem of an aging society. This is the reality for countries like Singapore, Brunei, Malaysia, Thailand and Vietnam. The worry is that as citizens age, and pregnancy rates drop in these countries, it will become harder and harder for them to remain competitive.In the face of this concerning reality, ASEAN has been looking at how it can fully utilise the potential of its aging citizens.
Thailand’s embrace of the Fourth Industrial Revolution is perhaps among the most impressive in the region. From e-commerce to law enforcement, Thailand has shown that it is doing all it needs to ensure it lives up to its Thailand 4.0 plan.It’s often been pitted that while the Fourth Industrial Revolution brings a lot of opportunities with it, there are also some challenges.