5 emerging technologies that will help Singapore firms boost digitalisation

Wearable tech is one.

The Microsoft Asia Digital Transformation Study outlined five blossoming technologies in Singapore that will change the way business leaders operate their firms.

Microsoft Singapore Kevin Wo noted that several technologies will give a helping hand to these firms to scale up their digitilisation efforts.

"Cloud computing and the decreasing cost of devices have made it more affordable for companies of any sizes to transform digitally," Wo said, noting that this is according to 81% of business leaders in Singapore surveyed. Meanwhile, 76% of the business leaders regarded cloud computing as essential in their digital transformation strategy.

In the next 12 to 18 months, business leaders in Singapore are interested in exploring a range of emerging technologies to accelerate and achieve digital transformation. The study revealed top five technologies identified by business leaders as being relevant to them in Asia:

Internet of Things (IoT): Network of sensors embedded into devices that can collect data or be remotely controlled. Examples include smart buildings, cars and home devices

Artificial intelligence: Intelligent machines or software that are able to learn and perform tasks independently. Examples include robots, chatbots and self-driving cars.

Wearable technologies: Advanced computing and electronic technologies that are embedded into clothing, devices or bodies. Examples include smart watches and fitness trackers.

Virtual/augmented/mixed reality: Technologies enabling the merging of real and virtual worlds into new and immersive experiences.

Quantum computing: Next-generation computers using different computation systems to solve data equations much faster than traditional computers.

Wo noted that these emerging technologies, specifically, cloud, analytics and new capabilities like AI and IoT will give organisations new capabilities to transform.

"But real transformation only happens when they bring their people along with them. Equipping employees with the right tools to enable them to be part of solution to be more responsive, data driven and customer centric are also key,” he said.