Singapore should embrace automation for its next stage of growth

Published: 20.10.2019 Related countries:  Singapore Singapore

Singapore, by most measures, is enjoying many of the trappings that come with being an advanced, developed economy. Low unemployment (around 2.1% in 2018), high GDP per Capita, high levels of education and low crime.

First on Singapore’s list is automation and leveraging automation technologies to both address productivity issues arising from an aging and/or declining population and generate more economic growth. Technological innovation and advancement can be disruptive and there are a number of new, powerful technologies emerging that will transform companies. However, those firms that resist automation inevitably fall by the wayside, but most importantly, an advanced economy such as Singapore with an educated workforce will be best positioned to reap the benefits automation brings.

Importantly for Singapore, automation will allow employees to be more productive as it enables them to do more value-added work that involves creativity and innovation. A more productive workforce will allow it to grow economically with the same number of workers. Whilst automation technology may be complex we should make it more accessible by connecting those who use and benefit from this technology (businesses, governments etc) with those who are driving the technology forward (developers etc).