As we tie ourselves in knots over Brexit, our international competitors continue on their digital transformation journey.
In Singapore, already considered by most observers to be a world leading digital national, a further S$300 million ($222 million) is being allocated to spur research in digital innovation as the government transforms the economy through technology.
The amount, almost double the current budget, is part of the next phase of the National Research Foundation’s five-year plan, ending 2020, to support industries "innovate and stay competitive as technology rapidly evolves".
A range of measures have been launched aimed at attracting more businesses and investors through technological advances, supporting small businesses go digital and developing a high-technology skilled workforce.
Following launch of a nationwide electronic invoicing network for businesses in January, the city-state will roll out artificial intelligence and cloud based solutions to every business sector by 2020. There is also an initiative to help businesses securely exchange digital trade documents.
5G, mobile-phone networks will be rolled out next year to maintain Singapore’s “competitive edge in connectivity,” The new networks will provide data services 100 times faster than the current position, supporting up to 1,000 times more devices.