Digital immune systems key to safeguarding S'pore's future economy

SINGAPORE continues to turn to digital capabilities and connectivity to drive economic growth. Already a trusted global business and financial hub, Singapore recently became home to the world's best digital bank, continues to accelerate fintech (fincial technology) innovation, and is among the first to test autonomous vehicles on roads and at ports.

With the Committee on the Future Economy's recommendations, the nation-state is expected to make a strong push to build further capabilities in data analytics and encourage small and medium enterprises to adopt digital technologies to create new revenue opportunities.

While there is no denying that the mainstream adoption of data analytics, the Internet of Things, autonomous vehicles and other emerging technology will transform and enhance local businesses, they will also make us vulnerable to a new era of threat. In the past 12 months, an average organisation in Singapore was subjected to 138 targeted cyber-attacks, 30 per cent more than the global average. This is no coincidence, given Singapore's digital dependence, sophistication and the huge volume of sensitive and valuable business information passing through the country's networks each day.