Today’s world as we know it revolves completely around technology. Modern advances are made every day and in order for a country to move forward both politically and economically, its businesses, governments and citizens must be as digitally advanced as possible.
As Singapore grows both technologically and digitally, many individuals are recognizing that Singapore is a leader within the digital world. As it stands, Singapore is the best-positioned country in the Asia-Pacific region to cash in on modern technological advances.
Singapore, Asia’s Most Digitalized Country
In the research conducted for the Enabling Digitalization Index or (EDI), Singapore ranked number 6 out of 135 other countries in terms of the most digitalized countries. Digitalization shows how connected a country is digitally and how well its businesses, government agencies, and citizens utilize digital resources. The other leading countries in digitalization include Germany, the Netherlands, Sweden, and the United States.
Growing in the Digital Age
As inflation and a decrease in worldwide trade cause countries all over the world to struggle to get their economy in good standing, being on the forefront of modern technology can put a country in the best position to cash in from digital advances. For Singapore, digitalization has allowed and will continue to allow the country to grow, regardless of the worldwide economic slowdown.
Singapore’s investment in new technology and its promotion and frequent use of digital advances make it easy to benefit from digitalization. Singapore’s high digitalization ranking indicates its utilization of experience, potential, supply and demand to get ahead in the digital economy. The report uses data derived from this research show that using broadband technology, data centers, big data, IoT and cloud resources plays a major role in helping a country increase its digitalization.
Research from the index indicates that countries like Singapore are more innovative and competitive than other countries due to their level of digitalization. The research from the GEI and the WEF Global Competitiveness realized the relationship between competition and innovation for technologically advanced countries.
Growing from digitalization starts with recognizing and utilizing the latest technology and new data. The President of Huawei Corporate Marketing, Kevin Zhang, shares that countries hoping to rank higher in digitalization should “invest more in cloud, big data, and IoT technologies”.
Technology in Southeast Asia
Singapore stands as Asia’s leader in technology, while other neighboring countries are not too far behind. Japan placed 15 and China place 44.
As countries continue to advance technologically, other countries have made major jumps from previous years after making intentional efforts to digitalize their country and economy. According to the Index, 12 countries have improved their level of digitization over the course of the year. Southeast Asian countries that have improved include Indonesia, jumping from 39 to 41 and Malaysia, jumping from 21 to 25.
As our world moves forward, it helps to remember that we are still very much apart of the digital age and still have the opportunity to invest in digitalization, whether as a country or as individuals.