Singapore has topped the Asian Digital Transformation Index for the second time, due to the widespread availability of reliable, fast and affordable digital connectivity and the strength of digital skills across the workforce.
The finding is part of new Economist Intelligence Unit (EIU) research* commissioned by telecommunications and technology company Telstra, studying the progress of Asian economies in developing digital infrastructure, skills and technology ecosystems.
The EIU found that the clarity and ambition of Singapore’s digital vision is a driving force in the country’s ranking, evident through the successful implementation of ICT infrastructure strategy – including 5G development plans and a fibre network rollout.
About 97% of Singapore’s population now has access to superfast Internet connectivity – followed by mainland China (77%) and Hong Kong (74%).
The Index cited the importance of 5G mobile connectivity in realising the potential of artificial intelligence (AI), the Internet of Things (IoT), Industry 4.0 and autonomous vehicles, with Singapore, as well as South Korea, leading the charge in Asia to launch 5G services in 2020. Japan and mainland China were also found to be well advanced in 5G planning.
Singapore also made significant gains in the EIU’s rankings of digital skills and education, moving up three places in since the first Index release two years ago, overtaking South Korea, Hong Kong and Japan to top the Index’s human capital measure.
Telstra’s Head of International Oliver Camplin-Warner said that digital skills have long been an issue facing Asian economies in their drive for digital transformation.
“Singapore’s digital transformation environment, as the index found, is one of the best in the world, but talent shortages continue to be a key hurdle in realising its full potential,” Camplin-Warner said.
“When I speak to customers across Asia, they continually cite finding the right people with the right digital skills as an acute business challenge that impacts their operations across the region. This has long been an area where the West has had an advantage over the East, but as the index shows, we’re beginning to see change.
“The EIU found that Singapore is in the strongest position across Asia to address talent and skills challenges for two reasons. Firstly, the impact of Singapore’s world-leading maths and science education is setting the foundation for its talent pool now, and in the future.
“Secondly, in a new measure, Singapore was found to have the greatest proportion of telecommunications professionals within its workforce, which is a major advantage as IoT, AI and Industry 4.0 mature where we will see everything that can be connected will be connected.”
In its second edition of The Asian Digital Transformation Index 2018: Building environments for technology-led change, the EIU ranked the digital capabilities of 11 markets in the region, plus three global comparators of the US, UK and Australia.
Singapore topped the index in 2016, and in an expanded index which includes global comparators, Singapore this year would overtake the US to be the No. 1 environment for digital transformation.
Of the index's three indicators, Singapore only lost ground in the measure industry connectivity, which measures organisations’ ability to absorb and benefit from digital technology available in the market, dropping two places to fourth. This is due in part to a reduction in the e-commerce market score and proportion of online shoppers.
“Since the commencement of the Asian Digital Transformation Index two years ago, we have seen the positive impact of what a clear vision and long-term digital strategies can deliver,” Camplin-Warner said.
“Through commissioning this research we aim to increase understanding of digital capabilities across the region, as well as the digital environment of each economy to enable technology-led change in business and society.”
Asian Digital Transformation Index 2018
1 Singapore - 78.0
2 Japan - 63.5 (+1)
3 Hong Kong - 62.3 (+1)
4 South Korea - 61.0 (-2)
5 Taiwan - 55.7
6 Malaysia - 36.9
7 Mainland China - 36.4
8 India - 31.0 (+1)
9 Thailand - 23.0 (-1)
10 Philippines - 12.8
11 Indonesia - 12.2
Details:
The Asian Digital Transformation Index 2018 can be downloaded here.
*The Asian Digital Transformation Index is a quantitative ranking of 11 Asian markets and three global comparators using 20 indicators across three categories relevant to business performance: digital infrastructure, human capital and industry connectivity. The categories, and the individual criteria within them, are weighted according to assumptions of their relative importance in fostering digital transformation at organisations within countries.
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http://www.eiu.com
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