Singapore Budget 2016: Thriving in the digital economy

WHILE global economic growth is widely expected to slow in 2016, the growth of the digital economy will likely accelerate. The digital economy is already permeating multiple aspects of the world economy and impacting sectors, businesses and workers. With the next billion people coming online, it will become an even more important driver for innovation, competitiveness and growth. The digital economy was a key focus at the recent World Economic Forum in Davos, with the theme of The Fourth Industrial Revolution.

Digital technologies are changing the way we do business and redefining global value chains. Platforms such as Airbnb and Uber are disrupting traditional business models; algorithms, artificial intelligence, blockchain are disrupting professional services while the Internet of Things and 3D printing are changin…