With digitalisation, it’s inevitable that many rudimentary jobs are made redundant or displaced by intelligent automation over time. Our future workforce needs to be comfortable with working alongside robots and extracting the value of data.
Most businesses struggle to prioritise the need to invest in future proofing their manpower as it may not reap immediate benefits. It doesn’t help with the pressure to meet short term profit expectations. This is creating a shortfall in digital workforce and eroding future business survival.
To add, many global companies based in Singapore are increasingly finding it difficult to get the right talents to address their immediate transformation needs. While the Government encourages new skills transfer, it will take time. It’s akin to organic growth vs acquisition. We are at the cross road of digital economy reform and the inability to access the right talent pool will set us back.
There is a danger that these global companies will start looking out for alternatives. The two capability support schemes (Tech Skills Accelerator and Capability Transfer Programme) should dovetail with FDI programmes to provide a holistic offering for the business if this is not already done.
Lyon Poh, Head of Digital & Technology