Robots as building blocks of SME success

SINGAPORE'S Prime Minister Lee Hsien Loong said in his recent National Day Rally address that Singapore needs to do more for its Smart Nation push. Despite having a solid infrastructure in information technology (IT), a highly literate population comprising pretty much digital natives, Singapore still "lags behind" in certain areas, such as in the use of electronic payments.

The adoption of technology by both public and private sector organisations can be accelerated, especially among smaller companies as they typically are more agile. Also, this transformation should be more than tapping into technology to enhance efficiency and productivity, but rather, to adopt technology into our everyday lives, to "live smart at every age".

Small and medium sized enterprises (SMEs) in Singapore form an important segment of the economy. They contribute to nearly half of Singapore's gross domestic product (GDP) and make up more than 99 per cent of Singaporean enterprises.