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Building incentives to capitalise on the digital economy

Singapore should work on attracting digital hubs and building key capabilities in data analytics, given the multiplier effect on the economy.

Published Mon, Feb 27, 2017 · 09:50 PM

OUR way of life is changing. Our economies are shifting from the third to the fourth industrial revolution - from computers to digitisation and the Internet of Things (IoT). Wearables, robotics, artificial intelligence, 3D printing, smart homes are increasingly gaining traction around the world. The advent of the industrial IOT is a once-in-a-lifetime business disruption and it's coming faster than expected. In recent decades, technology-enabled disruptions have turned different sectors upside down.

By 2020, an estimated 50 billion devices around the globe will be connected to the Internet. IoT represents a transformative shift for the economy, similar to the introduction of the PC itself. It incorporates o…

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