Singapore needs cyber talent for Smart Nation plans

Singapore needs more cyber talent to grow as a Smart Nation
  • The Singaporean government plans to boost productivity by creating a Smart Nation, but a lack of skilled human resources is likely to pose a road block for successful implementation, BMI Research says.
  • Building data analytics capabilities and bolstering cybersecurity are longer term goals that will depend on human capital restraints, the research concludes.
  • The city remains an attractive target for cybercrime due to its status as a global financial hub. It scored 83.5 in BMI Research’s Financial and Cybercrime sub-index, close to the the Asian average of 83.4.
  • BMI Research said the economy relies heavily on Internet-based interactions, so security and stability and highly important for the country.
  • “Given the government’s commitment to shifting the country towards productivity-driven growth, we believe that Singapore will likely continue to develop its digital infrastructure capabilities, boding well for longer term growth,” BMI said.
  • A near-term positive is that Singapore immediately has the potential to develop a 5G network and the Internet of Things (IoT) due to its “strong fundamentals,” the research notes.
  • BMI added that the strong support of the private sector in aiding the development of the fintech sector is another boon. This is particularly true of the mobile e-payments sector which has seen strong appetite for funding.

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