Information and communications technology (ICT) spending in Asia/Pacific (excluding Japan) will hit US$1.5 trillion in 2021, according to IDC.
Singapore will be focusing on four technology areas to build the foundation for its digital transformation. These are artificial intelligence (AI) and data science, cybersecurity, immersive media, and Internet of Things and future communications infrastructure.
At the opening of Infocomm Media Business Exchange at Marina Bay Sands Singapore Convention Centre, Minister for Communications and Information Dr Yaacob Ibrahim noted that “they are exciting fields with bright prospects in their own right, and they have great potential to transform other industries and enhance people’s lives”.
Artificial Intelligence and Data Science
The nation has established AI.SG, a national programme with funding of up to S$150 million to boost Singapore’s AI capabilities.
Virtual reality (VR) is not new but it has had a few false starts in recent years. However, it looks like 2016 is going to be a great year for VR.
According to IDC, worldwide shipment of VR hardware will hit 9.6 million units in 2016. Led by key products from Samsung, Sony, HTC, and Oculus, the category should generate hardware revenue of about US$2.3 billion this year.
While VR will drive nearly all of the hardware volume in 2016, augmented reality (AR) hardware is forecast to ramp up over the next few years. The combined AR/VR device market will see hardware shipments surge past 110 million units in 2020.