Commentary

Fact or fiction: Anyone can trade in Singapore

As Asia and Singapore becomes increasingly digitised, processes get automated and several industries are disrupted by technology, in particular, finance. From robo advisors to even analysts, there is no denying that finance in Singapore has been disrupted by new tech such as machine learning and predictive analytics. State of play today Artificial intelligence is progressing at a fast rate, and with it comes a deluge of data that humans cannot process quick enough. Whilst many of these technologies were created to help humans – for example, removing manual collation of data and data cleansing – so we can focus on other aspects of the business, what of the people whose jobs were mainly tied to such work, say for example stockbrokers? Are analysts (be it financial or data) who were once considered “unicorns” at risk of being replaced by AI that can calculate and perform complex tasks faster, minus human error? There’s no denying that with this disruption comes a period of uncertainty. The following list will separate fact from fiction. Fact: Your next stockbroker in Singapore might not be human. But it doesn’t mean you will sit in front of a robot. Financial institutions in Singapore are increasingly turning to machines to automate jobs that humans have done for decades. Take for example wealth management firm Charles Schwab and their offering Schwab Intelligent Portfolios launched two years ago. Based on algorithms, i.e. lines of codes programmed into a computer, you’ll be informed of where to invest your money. The process is also relatively simple. You simply open and account, fill out a questionnaire and instead of getting a human that simply crunches the numbers, machine learning and predictive analytics step in to help you make decisions. Fiction: People will always just want to deal with humans in Singapore If you think about this particular model of business, you’re paying for an advisor that:

Commentary

Fact or fiction: Anyone can trade in Singapore

Commentary

Singapore's digital problems can't be solved with $ alone

The Singapore Budget unveiled a raft of new measures aimed at getting Singapore's reluctant SMEs/SMBs (small media enterprises/businesses) to go digital and use technology in their businesses. It basically amounted to throwing money at the problem. This seems to not only miss the point but not having learnt from previous times when this was tried.

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Hopes for more support for Singapore enterprises

Following the recommendations by the Committee on the Future Economy (CFE), the Monetary Authority of Singapore recently announced that it will relax some of its rules on finance companies to make it easier for small- and medium-sized enterprises (SMEs) to obtain financing. The regulatory changes will see SMEs being granted more access to higher amount of uncollateralised loans and business customers will be able to contract more conveniently.

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Ethical issues in Singapore's real estate industry

The government is sending a clear signal that in the long haul, stringent entry requirements are needed to be a property agent. This will raise the image and professionalism of the industry.

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Is technology threatening Singapore's healthcare system?

With state-of-the-art infrastructure and a reputation for excellent medical practice, Singapore has a well-deserved reputation for first-class healthcare. Singapore ranks second in the world providing its citizens with quality healthcare, and is also a major location for medical tourism in Asia.

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Singapore looking to develop policy framework for energy storage

In order to fulfil its commitments under the Paris climate change agreement, Singapore’s climate action plan includes a number of strategies, including reduction of emissions from its power generation sector. Already, Singapore generates more than 95% electricity using combined cycle gas generators; thus, it needs to increase the share of Solar PV to achieve further reductions.

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Bouncing back from retrenchment

The release of the Ministry of Manpower's 'Labour Market Advance Release 2016' showed both slowing employment growth (an increase of 0.4%, down from 0.9% in 2015), and an increase in unemployment, creeping up to 2.2%. As has been well highlighted, Singapore is not immune from global trends and these results, in the global context, are not surprising. But it should also be noted, it is not all bad news.

Commentary

Crowdfunding: Protecting businesses and funders

The recent spate of negative corporate news in Singapore – bond defaults and manpower retrenchment – has led banks to become more cautious about lending. This could mean further tightening of the credit environment which is unfavourable for businesses, especially small and medium-sized enterprises (SMEs).

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Paying heed to Singapore's productivity challenge

Following an announcement in 2010 by the Economic Strategies Committee to reach a productivity growth target of 2-3% per year over the next decade, the Singapore government has since introduced a slew of initiatives to raise productivity.

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Here's why these hot new startup ideas won

Not to say they've won in real life, but they did win the Startup Weekend Singapore hackathon at Google last month.

Commentary

What firms need to know about mobility management

Global mobility programmes are pivotal to the growth and success of organisations, but with increasing complexities and the increasing volume of information to manage, the decision-making process can get rather daunting. Changing business dynamics, market volatility, the involvement of multiple stakeholders – each with their own priorities, and the need to contain costs whilst maintaining flexibility are just but a handful of the challenges faced by mobility professionals.

Commentary

Driving innovation in SMEs: Hopes for Budget 2017

2016 was a tough year for Singapore’s economy. According to the Singapore Business Federation’s National Business Survey (NBS) 2016/2017, only 1 in 10 businesses expected the economic climate to improve over the next 12 months, whilst almost 50% of those surveyed felt that it could get worse. The overall SBF-DP SME Index reading for 1Q17 to 2Q17 also recorded its lowest reading of 49.8 in seven years, reflecting the business uncertainty felt among local businesses.

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On Trump, free trade, and the end of TPP

On 20 January 2017 Mr Donald J. Trump sworn in as the 45th President of the United States of America, and as part of his “100-day action plan to Make America Great Again” on 23 January 2017 signed the executive order to withdraw the USA from the TPP, the Trans Pacific Partnership free trade agreement between 12 Asia-Pacific countries including four within the ASEAN marketplace (Singapore, Malaysia, Vietnam, and Brunei). It reconfirmed Trump’s position well expressed during his presidential campaign and remarked his intent to withdraw from the TPP “from day one,” calling it “a potential disaster for our country” and continued by adding that instead he would negotiate “fair bilateral trade deals that bring jobs and industry back”.

Commentary

Why Singapore's shares could benefit from Trump – in 2019

If history is any guide, under US President Donald Trump, Singapore’s stock market won’t post returns worth writing home about… until 2019. But: given the unpredictability of Trump so far, history may not be prologue at all.

Commentary

Do graduate programmes still matter?

In the face of a fast growing economy, we are presented with an interesting conundrum in the role which education has.

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How Robotics Process Automation can make education pay, and increase Singapore's productivity

More than most developed nations, Singapore has reached a point where one of the biggest growth drivers will be through increased productivity. With an ageing population and limited space, it cannot count on large-scale manufacturing to employ thousands of people, or embark on major infrastructure works to provide an economic boost.

Commentary

Digital disruption's impact on crisis communications

It is obvious that social media has changed the entire dynamics of crisis communications – from the way professionals work, engage with our communities, and communicate ideas. It has significantly re-defined our relationships with people and forever changed the way businesses run. And this change is not evolutionary but revolutionary.

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