Singapore‘s Deputy Prime Minister Speaks at the Asia Tech Summit

On May 31, Singapore’s Deputy Prime Minister and Coordinating Minister for Economic Policies spoke at the Asia Tech x Singapore Summit. The summit was held digitally last year, and one of the first things the minister mentioned was that he was very happy that the summit can be held in a “hybrid format” in 2022.

The minister briefly mentioned the changes the world is going through after COVID-19. He specifically mentioned that artificial intelligence (AI) and the Internet of Things (IoT) are far more pervasive now. He added that although the digital economy is growing steadily, there are still many untapped opportunities.

Adding to his previous statements, Heng Swee Keat highlighted that even though the world is moving online, so are malicious actors. He then continued to provide some statistics on online crime, citing the 50% increase in cyberattacks on corporate networks last year as an example.

Furthermore, the minister stated that even though cyber crimes are increasing, so is the world’s cyber response. He specifically mentioned that Singapore is also making it a top priority. Notably, Singapore has made the “digital defense the sixth pillar of Total Defense.”

Throughout the minister’s speech, he also briefly mentioned some emerging technology like Web3 and the next phase of SGTraDex.

The minister concluded his speech by stating that the world is currently in a critical phase of global economic recovery after the chaos of the pandemic, and people still encounter new challenges daily.

He added to this by stating that this is the time to stay focused on creating better lives for people around the world and for people to keep an open mind about new and emerging technology.