Healthcare has transformed rapidly in the last few years – processes have become more agile; clinicians, administrative staff, and patients have changed their views on how healthcare can and should be delivered; and there is a greater reliance on technology today.
Despite challenges such as healthcare inequality and limited access to care for underserved populations, the future of Healthcare looks promising.
We will see continued advancements in technology, increased collaboration between healthcare providers and patients, and a clear shift in focus on preventative care.
Read on to find out how South Australia Health, Tan Tock Seng Hospital in Singapore, Montana State University and Billings Clinic, Microsoft, Epic, Zuellig Pharma, and iHIS Singapore are innovating to improve patient and employee experiences and clinical outcomes.
Download “The Future of Healthcare” as a PDF
Leaders Roundtable: Futureproofing Your Investments for a Digital Era
The as-a-service, consumption-based model has proven use cases in many facets of our daily lives – whether it’s cars we drive, our vacation accommodations, or even the offices we work in.
When it comes to technology, the as-a-service model offered by cloud infrastructure and solutions has already demonstrated its benefits. Organisations today want to pay for their compute and storage requirements as they use them, rather than invest in owning them.
However, businesses are discovering that public cloud is not the answer to every infrastructure need. The costs of moving data, the latency of edge services, sunk investments in local data centres, data residency requirements and the evolving capabilities of hybrid cloud management platforms have allowed businesses to reconsider their approach to cloud. Organisations that implement a hybrid cloud strategy enjoy the traditional benefits of cloud and are able to also integrate multiple applications and computing environments.
Ecosystm research finds that, in Singapore:
- 53% of organisations want the flexibility of running individual workloads on the cloud environment of their choice
- 56% of organisations are challenged by security concerns when shifting infrastructure to public cloud; 46% have application performance concerns
- 70% of organisations choose a hybrid option to leverage existing data centre investments
We invite you to join me at our Leaders RoundTable where we will host a discussion on the role of your technology teams to enable new customer and employee experiences; and how an as-a-service approach to infrastructure procurement and management can have positive impact on your business, IT teams and financial performance.
Southeast Asia has evolved into an innovation hub with Singapore at the centre. The entrepreneurial and startup ecosystem has grown significantly across the region – for example, Indonesia now has the 5th largest number of startups in the world.
Organisations in the region are demonstrating a strong desire for tech-led innovation, innovation in experience delivery, and in evolving their business models to bring innovative products and services to market.
Here are 5 insights on the patterns of technology adoption in Southeast Asia, based on the findings of the Ecosystm Digital Enterprise Study, 2022.
- Data and AI investments are closely linked to business outcomes. There is a clear alignment between technology and business.
- Technology teams want better control of their infrastructure. Technology modernisation also focuses on data centre consolidation and cloud strategy
- Organisations are opting for a hybrid multicloud approach. They are not necessarily doing away with a ‘cloud first’ approach – but they have become more agnostic to where data is hosted.
- Cybersecurity underpins tech investments. Many organisations in the region do not have the maturity to handle the evolving threat landscape – and they are aware of it.
- Sustainability is an emerging focus area. While more effort needs to go in to formalise these initiatives, organisations are responding to market drivers.
More insights into the Southeast Asia tech market below.
Click here to download The Future of the Digital Enterprise – Southeast Asia as a PDF
Leaders Roundtable: Building a Secure, Digital-First Organisation
Digital transformation has been a key company objective over the last two years with organisations aiming to be agile and digital – with access to real-time data insights at their core.
Businesses have learned that their technology systems need to be scalable, accessible, easy to manage, fast to deploy, cost effective – and above all else, secure.
The focus is on enabling seamless access to all organisational data, irrespective of where they are generated (enterprise systems, IoT devices or AI solutions) and where they are stored (public cloud, on-premises, Edge, or co-location facilities). Hybrid cloud strategies are gaining popularity as organisations no longer want to be limited by the location of their data, workloads and applications.
As companies move more resources to the cloud, increase IoT usage, and employees increasingly work remotely, a new approach to cybersecurity is required. As business logic moves from back-office application servers to remote locations and devices, they need better control over their data assets – both at rest and in transit – across dispersed locations and a much larger attack surface.
Ecosystm research finds that in Singapore:
- 56% of cybersecurity decision-makers think that a data breach is inevitable
- 49% of organisations will focus on data security in 2022-23 – making it their leading cyber priority
- 44% of organisations suffer from a lack of data governance and internal policy
In the current scenario, how do cybersecurity leaders ensure that sensitive data does not fall into the wrong hands; organizations have full visibility over their data assets; and have the freedom to store and run workloads wherever desired to maximize performance, flexibility, and cost.
CHRO Leaders Roundtable: Empowering Your Organisation’s Biggest Asset
The corporate challenge of managing skills shortages, employer of choice strategies, and flexible work programs have long existed.
It’s just that, like most strategic imperatives, they have been optional, even for the most competitive businesses. Every successful organisation today has gone through a transformation in how they do business, engage with their customers, and deliver their products and services. But perhaps the biggest change has been in how organisations have had evolve their employee strategies and practices.
Employees are an organisation’s biggest asset. Given the changes and challenges that your employees have faced over the last two years, they have developed some strong work preferences. HR has the biggest role to play in shaping the employee experience your organisation provides – and it cannot achieve this without a close alliance with the Tech/Digital Team
As workplaces become truly hybrid, there are significant challenges that HR faces today:
- How to capture the pulse of the organisation and establish the right corporate culture?
- How to make upskilling and learning interactive and relevant, considering generational differences?
- How to solve the “productivity conundrum” – allowing employees to be most productive irrespective of the location?
- How to empower managers to offer personalised employee experience to ensure employee retention and emotional well-being?
- How to rebuild the social capital, after the uncertainties of the last two years?
The 2021 United Nations Climate Change Conference (COP26, that was held in Glasgow in 2021, highlighted the need to mobilise public and private sector finance to support global net-zero emissions targets and to protect communities and habitats.
Sustainable Finance and Green Bonds present opportunities for lenders, investors, and borrowers. It allows borrowers to obtain funding at decreased and competitive costs. And as investor demands continue to rise, Government institutions have expressed keen interest in issuing green bonds to support ecologically beneficial initiatives.
Here are some recent global announcements.
- France announces the issuance of USD 4 billion green bond sale.
- Germany raises USD 4 billion in green bonds to finance green expenditures and investments.
- Singapore sets a roadmap for its first sovereign green bond with the Singapore Green Bond Framework.
- Austria launches its first green bond.
- The UK launches an inquiry into the role of the financial sector in the country’s net zero transition.
Download Building a Climate Resilient Future with Sustainable Finance as a PDF
Executive ThinkTank: Being Business Ready: Leading Your Business In A Hybrid Work Environment
The last couple of years have demonstrated the resilience across people and businesses to rapidly evolve in order to meet the headwinds.
It has changed the face of talent and we have seen remote work can actually improve productivity, create a better work-life balance, and bring a host of other benefits. However, there are also significant challenges. This has created a paradox for employers: employees want more flexible remote work options with full access to corporate resources, but they also want more in-person collaboration and interaction.
The ongoing Ecosystm Voice of the Employee study finds that:
- Today, 68% work either entirely from home or in a hybrid set-up
- 47% consider spending time with family a key benefit of remote work; and yet the same proportion of employees is challenged by distractions when working from home
- Nearly 40% of employees want to conduct in-person brainstorming and planning sessions; while 43% are comfortable with audio and videoconferencing sessions.
As more companies start to return to the office, the need for a hybrid approach is the logical solution. It offers flexibility, but also a competitive advantage in attracting and retaining talent.
Senior Leaders from Kyndryl and Microsoft will discuss how to create a seamless hybrid workplace. Topics will include:
- How can organisations measure and improve employee experience across hybrid work environments?
- Putting user experience at the core of your business by simplifying and integrating platforms and applications
- Using a data-driven approach to simplify business processes and workflows
- Preventing issues before they occur by using AI and self-healing technology
Innovation is at the core of Singapore’s ethos. The country has perfected the art of ‘structured innovation’ where pilots and proof of concepts are introduced and the successful ones scaled up by recalibrating technology, delivery systems, legislation, and business models. The country has adopted a similar approach to achieving its sustainability goals.
The Singapore Green Plan 2030 outlines the strategies to become a sustainable nation. It is driven by five ministries: Education, National Development, Sustainability and the Environment, Trade and Industry, and Transport, and includes five key pillars: City in Nature, Sustainable Living, Energy Reset, Green Economy, and Resilient Future. We will see a slew of new programs and initiatives in green finance, sustainability, solar energy, electric vehicles (EVs), and innovation, in the next couple of years.
Singapore’s Intentions of Becoming a Green Finance Leader
Singapore is serious about becoming a world leader in green finance. The Green Bonds Programme Office was set up last year, to work with statutory boards to develop a framework along with industry and investor stakeholders. We have seen a number of sustainable finance initiatives last year, such as the National Environment Agency (NEA) collaborating with DBS to raise USD 1.23 billion from its first green bond issuance. The proceeds will fund new and ongoing sustainable waste management initiatives. Temasek collaborated with HSBC for a USD 110 million debt financing platform for sustainable projects and Sembcorp issued sustainability bonds worth USD 490 million.
Building an Ecosystm of Sustainable Organisations
Sustainability has to be a collective goal that will require governments to work with enterprises, investors and consumers. To ensure that enterprises are focusing on Sustainability, governments have to keep in mind what drives these initiatives and the challenges organisations face in achieving their goals.
There are several reasons driving organisations in Singapore to adopt sustainability goals and ESG responsibilities (Figure 1)
It is equally important to address organisations’ challenges in building sustainability in their business processes. Last week, the Institute of Banking and Finance (IBF) and the Monetary Authority of Singapore (MAS) set out 12 Sustainable Finance Technical Skills and Competencies (SF TSCs) required by people in various roles in sustainable finance. This addresses the growing demand for sustainable finance talent in Singapore; and covers knowledge areas such as climate change policy developments, natural capital, green taxonomies, carbon markets and decarbonisation strategies. There are Financial Services related competencies as well, such as sustainability risk management, sustainability reporting, sustainable investment management, and sustainable insurance and reinsurance solutions. The SF TSCs are part of the IBF Skills Framework for Financial Services.
Sustainable Resources Initiatives
Singapore is not only focused on Sustainable Finance. If we look at NEA’s Green Bonds, there are specific criteria that projects must satisfy in order to qualify, including a focus on sustainable waste management.
Last week the Government announced that the National Research Fund (NRF) will allocate around USD 160 million to drive new initiatives in water, reuse and recycling technologies, as part of the Research, Innovation and Enterprise 2025 plan (RIE2025). Part of the fund will be allocated to the Closing the Resource Loop (CTRL) initiative, administered by the NEA that will fund sustainable resource recovery solutions.
Singapore faces severe resource constraints, and water security is not a new challenge for the country. The NRF funding will also be used partially for R&D in 3 water technology focus areas: desalination and water reuse; used water treatment; and waste reduction and resource recovery.
The Government is Leading the Way
The Government’s concerted efforts to make the Singapore Green Plan 2030 a success is seeing corporate participation in the vision. In February, Shell started supplying sustainable aviation fuel (SAF) to customers such as SIA Engineering Company and the Singapore Air Force in Singapore. Shell has also upgraded their Singapore facility to blend SAF at multiple, key locations. Last week, Atlas announced their commitment to Web 3.0 technologies and “tech for good”. They aim to increase their green energy use to 75% by 2022; 90% by 2023; and 100% by 2024. ESG consciousness is percolating down from the Government.
The success of Singapore’s Sustainability strategies will depend on innovation, the Government’s ongoing commitment, and the support provided to enterprises, investors, and consumers. The Singapore Government is poised to lead from the front in building a Sustainable Ecosystem.
Earlier this month, I had the privilege of attending Oracle’s Executive Leadership Forum, to mark the launch of the Oracle Cloud Singapore Region. Oracle now has 34 cloud regions worldwide across 17 countries and intends to expand their footprint further to 44 regions by the end of 2022. They are clearly aiming for rapid expansion across the globe, leveraging their customers’ need to migrate to the cloud. The new Singapore region aims to support the growing demand for enterprise cloud services in Southeast Asia, as organisations continue to focus on business and digital transformation for recovery and future success.
Here are my key takeaways from the session:
#1 Enabling the Digital Futures
The theme for the session revolved around Digital Futures. Ecosystm research shows that 77% of enterprises in Southeast Asia are looking at technology to pivot, shift, change and adapt for the Digital Futures. Organisations are re-evaluating and accelerating the use of digital technology for back-end and customer workloads, as well as product development and innovation. Real-time data access lies at the backbone of these technologies. This means that Digital & IT Teams must build the right and scalable infrastructure to empower a digital, data-driven organisation. However, being truly data-driven requires seamless data access, irrespective of where they are generated or stored, to unlock the full value of the data and deliver the insights needed. Oracle Cloud is focused on empowering this data-led economy through data sovereignty, lower latency, and resiliency.
The Oracle Cloud Singapore Region brings to Southeast Asia an integrated suite of applications and the Oracle Cloud Infrastructure (OCI) platform that aims to help run native applications, migrate, and modernise them onto cloud. There has been a growing interest in hybrid cloud in the region, especially in large enterprises. Oracle’s offering will give companies the flexibility to run their workloads on their cloud and/or on premises. With the disruption that the pandemic has caused, it is likely that Oracle customers will increasingly use the local region for backup and recovery of their on-premises workloads.
#2 Partnering for Success
Oracle has a strong partner ecosystem of collaboration platforms, consulting and advisory firms and co-location providers, that will help them consolidate their global position. To begin with they rely on third-party co-location providers such as Equinix and Digital Realty for many of their data centres. While Oracle will clearly benefit from these partnerships, the benefit that they can bring to their partners is their ability to build a data fabric – the architecture and services. Organisations are looking to build a digital core and layer data and AI solutions on top of the core; Oracle’s ability to handle complex data structures will be important to their tech partners and their route to market.
#3 Customers Benefiting from Oracle’s Core Strengths
The session included some customer engagement stories, that highlight Oracle’s unique strengths in the enterprise market. One of Oracle’s key clients in the region, Beyonics – a precision manufacturing company for the Healthcare, Automotive and Technology sectors – spoke about how Oracle supported them in their migration and expansion of ERP platform from 7 to 22 modules onto the cloud. Hakan Yaren, CIO, APL Logistics says, “We have been hosting our data lake initiative on OCI and the data lake has helped us consolidate all these complex data points into one source of truth where we can further analyse it”.
In both cases what was highlighted was that Oracle provided the platform with the right capacity and capabilities for their business growth. This demonstrates the strength of Oracle’s enterprise capabilities. They are perhaps the only tech vendor that can support enterprises equally for their database, workloads, and hardware requirements. As organisations look to transform and innovate, they will benefit from the strength of these enterprise-wide capabilities that can address multiple pain points of their digital journeys.
#4 Getting Front and Centre of the Start-up Ecosystem
One of the most exciting announcements for me was Oracle’s focus on the start-up ecosystem. They make a start with a commitment to offer 100 start-ups in Singapore USD 30,000 each, in Oracle Cloud credits over the next two years. This is good news for the country’s strong start-up community. It will be good to see Oracle build further on this support so that start-ups can also benefit from Oracles’ enterprise offerings. This will be a win-win for Oracle. The companies they support could be “soonicorns” – the unicorns of tomorrow; and Oracle will get the opportunity to grow their accounts as these companies grow. Given the momentum of the data economy, these start-ups can benefit tremendously from the core differentiators that OCI can bring to their data fabric design. While this is a good start, Oracle should continue to engage with the start-up community – not just in Singapore but across Southeast Asia.
#5 Commitment to Sustainability at the Core of the Digital Futures
Another area where Oracle is aligning themselves to the future is in their commitment to sustainability. Earlier this year they pledged to power their global operations with 100% renewable energy by 2025, with goals set for clean cloud, hardware recycling, waste reduction and responsible sourcing. As Jacqueline Poh, Managing Director, EDB Singapore pointed out, sustainability can no longer be an afterthought and must form part of the core growth strategy. Oracle has aligned themselves to the SG Green Plan that aims to achieve sustainability targets under the UN’s 2030 Sustainable Development Agenda.
Cloud infrastructure is going to be pivotal in shaping the future of the Digital Economy; but the ability to keep sustainability at its core will become a key differentiator. To quote Sir David Attenborough from his speech at COP26, “In my lifetime, I’ve witnessed a terrible decline. In yours, you could and should witness a wonderful recovery”
Oracle operates in a hyper competitive world – AWS, Microsoft and Google have emerged as the major hyperscalers over the last few years. With their global expansion plans and targeted offerings to help enterprises achieve their transformation goals, Oracle is positioned well to claim a larger share of the cloud market. Their strength lies in the enterprise market, and their cloud offerings should see them firmly entrenched in that segment. I hope however, that they will keep an equal focus on their commitment to the start-up ecosystem. Most of today’s hyperscalers have been successful in building scale by deeply entrenching themselves in the core innovation ecosystem – building on the ‘possibilities’ of the future rather than just on the ‘financial returns’ today.