Future of manufacturing will depend on how tech is used: Vivian
SINGAPORE — With manufacturing accounting for 18 per cent of GDP, manufacturing must change, and so will logistics, pointed out Dr Vivian Balakrishnan this morning (Oct 22).
An employee works on a machined metal component at the Coway Engineering & Marketing Pte. manufacturing facility in Singapore. Bloomberg file photo
SINGAPORE — With manufacturing accounting for 18 per cent of GDP, manufacturing must change, and so will logistics, pointed out Dr Vivian Balakrishnan this morning (Oct 22).
The future of manufacturing in Singapore will depend on the decisions on how to utilise technologies, he said, at the McKinsey innovation Forum.
Governments will also face the challenge of creating good jobs as middle class, white collar jobs face the risk of being wiped out by automation.
In the future world, said Dr Balakrishan, there will be three layers in the government’s strategy.
At the basic level, next-generation infrastructure has to be laid. Then, the software, or human capability, has to be developed, with the education system being overhauled.
Finally, the business eco-system has to attract more smart investors, he pointed out.
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