Although Singapore was ranked as the safest country in the world based on a report by the World Justice Project in 2018, cybersecurity breaches are increasingly threatening the safety of our digital world.
The underlying narrative of the 21st century has been underscored by technological advancements, whether it be in smartphones and tablets, the advent of social media, machine learning, and artificial intelligence, to name a few.
In the moments after a security breach is detected, moving quickly is incredibly important for Singapore businesses, especially now that the Personal Data Protection Commission (PDPC) plans to revise the Personal Data Protection Act (PDPA) to require companies to notify it of breaches within 72 hours.
Rapid technology innovation in Singapore has made digital disruption the new normal as once safe, stable, and secure industries begin to fully acknowledge the scale, speed, breadth and depth of digital transformation.
Small to medium sized enterprises (SMEs) are the lifeblood of all economies across Asia Pacific, however, technological disruption of industries and the need to innovate and change business models are key challenges that need to be addressed.
With the global increase in data breaches, like the biggest data fiasco of Facebook and locally the massive cyber attack on SingHealth’s database, the simple question of “Where is my data?” now requires answers that derive from the complex universe of data governance.
In Singapore in particular, the most serious breach of personal data, where 1.5 million SingHealth patients’ records were compromised, prompted the government to beef up its cyber defences whilst it continues with digital transformation as part of the Smart Nation initiative.
When the internal network of a local commodities trading firm was hit by a Distributed Denial of Service (DDoS) attack in early 2018, the network's performance dropped for several hours and lost millions in daily revenue due to the network performance issue as daily trades came to a standstill.
The recently announced Payment Services Act by the Singapore government seeks to address the balance between supporting the shift to a cashless society, enabling technology companies to run fast and develop innovative new solutions, whilst at the same time protecting the public.
Unlike its journey from third world to first where model economies abound, Singapore must today boldly chart its own course into an era dubbed by World Economic Forum’s (WEF) chief Dr Klaus Schwab as the Fourth Industrial Revolution.
At the turn of the 21st century, the Fourth Industrial Revolution had built on the invention of the computer, semi-conductors and the Internet, fueled by data and digitalisation.
The future of travel is social and mobile, and nowhere is this truer than in Singapore, where mobile travel sales have witnessed double-digit growth, outpacing traditional online sales and giving travel businesses a major push to invest in new mobile strategies.
Ravi Menon, managing director of the Monetary Authority of Singapore recently claimed: “I do hope when the fever has gone away, when the crash has happened, it will not undermine the much deeper, and more meaningful technology associated with digital currencies and blockchain." Singapore’s relationship with cryptocurrencies has been a torrid one.
Adoption of new robust digital travel expense and compliance models goes a long way, not only for the rising modern business traveller but also your business
A study commissioned by the Singapore Tourism Board- ‘Capturing the Asian Millennial Traveller’- revealed that in the next five years, Singaporean millennial travellers (born between 1981 and 1995) will enter their peak earning and spending years.
In October last year, the Singapore government passed the Infrastructure Protection Bill – laws to improve protection for iconic buildings providing essential services, with failure to do so resulting in fines of up to S$200,000 and jail of up to two years.
The aim is to make critical infrastructure more resilient to the major disruption that could be caused by things like power outages, hardware failures and environmental issues.