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  • Digitize ASEAN 2018 to examine the impact of digitalisation on ASEAN development

Digitize ASEAN 2018 to examine the impact of digitalisation on ASEAN development

  • Preparing human capital for a digital-driven economy in ASEAN
5 Jun 2018 [Singapore] - Digitize ASEAN 2018 will put the spotlight on issues and solutions to help propel ASEAN into a digital-driven economy. Jointly organised by the Singapore Business Federation (SBF) and the ASEAN Business Advisory Council (ABAC), Digitize ASEAN is one of the signature business events in support of Singapore’s Chairmanship ASEAN this year.

Digitize ASEAN 2018 brings together key industry players in ASEAN’s private and public sectors to dive deep into three digitally-impacted sectors, namely Banking & Finance, Healthcare and eCommerce & Supply Chain. These leaders will share their insights and thoughts on the current and future trends facing the region. The event is expected to see an attendance of over 450 participants from ASEAN.

Guest-of-Honour and Minister for Communications and Information Mr S Iswaran delivered the keynote address.

In his opening remarks, Mr Robert Yap Min Choy, ASEAN Business Advisory Council (ABAC) Member (Singapore) and Co-chair of ABAC’s Digital Working Group said: “In line with Singapore’s ASEAN Chairmanship theme of Resilience and Innovation, Digitize Asean will encourage discussion on how the 10-member regional grouping can progress together amid digital disruption. As ASEAN is not homogenous in terms of technological advancement, Digitalisation will bring about challenges and opportunities for member states. At the same time, it will allow the least digitally advanced member states to leapfrog and level up quickly with the more advanced counterparts.”

Impact of Digitalization on ASEAN

Digitalisation is bringing vast changes to the way people work, live and play. Many industries have already felt the impact of digitalisation.

The emergence of eCommerce in the ASEAN region, with a compounded annual growth rate of 32% by 2025, possibly rising to a value of US$90billion2, is already impacting personal and business transactions. Meanwhile, in the supply chain sector, automation and artificial intelligence have constantly been transforming and upgrading urban logistics.

In the healthcare sector, new technology is being used to build a strong digital health foundation for the people in the region. Machine learning and Artificial Intelligence have become increasingly prevalent in reinventing the healthcare sector. New technology now allows telehealth services, smarter preventive healthcare services and treatment to be made available to ensure long-term sustainability in the region’s healthcare system.

In the banking and finance industry, new technologies like blockchain, data analytics, cybersecurity have enabled a more efficient and secure cross-border payment and financing system that supports eCommerce and regional trade.

The readiness of human capital to drive a digital economy is a critical success factor for growth, and is an important resource for ASEAN member states to factor in their respective Digital Masterplans.

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