OPENING ADDRESS BY MR TEO SER LUCK, MINISTER OF STATE FOR TRADE & INDUSTRY AT THE IBM INTERCONNECT 2012 ON WEDNESDAY, 10 OCTOBER 2012 AT 8.35AM AT RESORTS WORLD CONVENTION CENTRE
Mr Michael Rhodin, Senior Vice President, Software Solutions Group, IBM Corporate
Ms Janet Ang, Managing Director, IBM Singapore
Distinguished Guests
Ladies and Gentlemen
Good Morning.
It is my pleasure to join you here today at IBM InterConnect 2012.
It speaks volumes that IBM has chosen to host this significant event in Singapore. It is a recognition of Singapore and Asia’s importance to the global business community.
Many have projected that the 21st century will be the Asian century, following the European century in the 1800s with the birth of the Industrial Revolution in Europe, and the American century in the 1900s marked by the rise of the United States as a global superpower. With the rapid emergence of India and China, it is not hard to see why Asia is projected to be a dominant economic power.
Asia is growing at a remarkable rate. In fact, a 2011 study by the Asian Development Bank predicted that by 2050, Asia will regain its dominant economic position it held some 300 years ago, before the industrial revolution. This prediction can certainly come true if Asia can turn existing opportunities into outcomes which brings us to the theme for today’s event.
Turning Opportunities Into Outcomes
So, how can we turn opportunities into outcomes? The history of the printing press provides an especially apt example. In the 15th century, Johannes Gutenberg invented the movable printing press and mechanised the printing process. The invention revolutionised the spread of information, making it more widely available to the populace in the form of books and subsequently newspapers.
Four centuries later, the Industrial Revolution brought about technological advances and made printing faster, more efficient and cheaper. In 1830, the first penny press – inexpensive, tabloid-style newspapers – went to market. Costing just one cent compared to other papers which cost several times more, the penny press was revolutionary because it made newspapers available to the poor.
The achievements of Gutenberg and the creators of the penny press showed that we could produce great creations if we capitalise on available resources and use existing technology as a catalyst for unleashing innovation.
Innovation Is The Gateway To Transformation And Growth
Technology has helped create an increasingly interconnected world, bringing people together and bringing people to information. These bridges have served as a useful conduit to form collaborations which generate new ideas and spark innovation - the gateway to transformation and growth. Let me cite two examples of cloud technology and data analytics.
Cloud Technology
The amount of data and information generated and made available to the world every day is growing at an unprecedented rate. This year, the number of Internet users worldwide has reached an estimated 2.27 billion, double what it was a mere five years ago. As a result, we can also expect the volume of data to grow exponentially.
This explosion of data is both an opportunity and a challenge. By harnessing cloud technology, organisations can overcome many of the challenges and capture opportunities that this vast amount of data presents. Companies could develop more efficient and innovative ways to transform and grow their businesses. For example, workers could enjoy greater mobility, allowing them to operate on-the-go, since the information they require can be readily accessed via the cloud.
In the public sector, cloud technology is also helping governments transform and grow. In Singapore, we have leveraged commercially available public clouds and implemented a private Government cloud, or G-Cloud, for Whole-of-Government use. Besides providing efficient, scalable and resilient cloud computing resources, G-Cloud generates cost savings by enabling standardisation and sharing of computing resources and applications at the Whole-of-Government level.
G-Cloud is scheduled to be ready for deployment by the end of this year. Through G-Cloud, Government agencies can procure cloud services easily to deliver Government services securely and quickly on demand, scaling up and down rapidly to cater to changing workloads, resulting in increased agility. It will be a platform for innovation where agencies can use G-cloud as a test-bed to pilot new and innovative applications for a small group of users without upfront cost and asset ownership.
Harnessing Big Data Through Analytics
There would be a need to make sense of all the data swirling in the cloud, because only then would it be useful information. Companies which are able to harness technology and get innovation right will be able to create more exciting opportunities for transformation and growth for their businesses. This is done by applying analytics to harness insights from the huge mass of data.
Different kinds of insight, foresight and intelligent decision-making could emerge as a result. For example, rather than treating customers as statistical samples, companies can identify trends early with better analytic insights and customise products to serve the unique needs of each individual customer. This could greatly increase the competitiveness of their products.
Analytics has also enabled governments to implement solutions which make their cities better places to live, work and play in. These “smart cities” use analytics to make sense of the data collected to provide more cost-effective services and higher quality of life in public safety, healthcare, social services and intelligent transport, among others. I would like to share an example of how Singapore is leveraging analytics to become a smarter city.
In July this year, the National Environment Agency of Singapore, or NEA, introduced a three-year research collaboration. The team will develop advanced modeling and predictive capabilities to address key environmental concerns in Singapore such as air quality, extreme weather events, dengue outbreaks and food poisoning incidents. By enabling accurate forecasting, proactive measures can be taken to preempt or reduce the risk of undesirable events, instead of simply taking post-incident reactions. For example, the forecasting capability will help NEA to inform the public in advance of changes in air quality.
Singapore: A City Of Creation And Innovation
As a global city in the heart of Asia with international links, sound business environment and a deep appreciation of technology as an enabler, Singapore is an ideal location for creation and innovation. I am glad to note that both public and private sectors have embraced technological tools, such as cloud computing and data analytics, to make real-time information more accessible, and creating the smart and connected city as we know it today.
Singapore’s Land Transport Authority, or LTA, has developed a web-based application that allows users to locate traffic bottlenecks, receive traffic alerts, view images from traffic cameras, and even check on availability of parking lots. NEA has also developed a mobile application which provides the public with the latest environmental news updates and information, such as real-time information on Singapore’s weather and even push-notification alerts on rain at certain locations around the city state. These web and mobile applications keep the public better informed through greater accessibility to the latest information.
Singapore understands the importance of innovation, and we invest in our future by fostering innovation and creating opportunity. We are very much focused on promoting a climate of innovation and entrepreneurship that attracts business and investors, and encourages home-grown talent to innovate, grow and springboard into the region.
Two years ago, the Infocomm Development Authority of Singapore, or IDA, launched “The Innovation Place” to help businesses innovate and transform their service offerings. The comprehensive programme aims at transforming businesses, especially our small and medium enterprises, for better productivity and sustainable competitive advantage. At the facility, companies can learn about the best industry practices and attend workshops and consultation sessions. Companies can also receive help in changing their business models and developing their business plans.
Conclusion
An event like InterConnect is a demonstration of what can be achieved with technology and innovation as key enablers. I urge participants to share knowledge, insights and best practices on how technology can help achieve organisational strategic goals. I hope you can turn your opportunities to outcomes.
With that, I wish all of you a fruitful time at today’s event. Thank you.