THE business environment is increasingly challenging, with a fast-changing macroeconomic environment, high inflation, growing pressure around climate change and sustainability, supply chain disruptions and a shortage of talent – to name just a few issues.

Against this backdrop, innovation has a significant role to play in helping businesses in Singapore manage risk and stay competitive.

This is recognised in the recently announced Budget 2024, which sets out to push innovation frontiers across the entire economy and harness technology across key sectors. Notable aspects include artificial intelligence (AI), the green transition and talent upskilling.