The complexities of state-sponsored terrorism, professional criminals, and basement bad actors are becoming more difficult to comprehend, track, expose, and prevent. In today’s world, detecting fraud requires a comprehensive approach that matches data points with activities to determine what is abnormal.
An international tech giant behemoth has unveiled details of its upcoming AI-powered chip designed to bring deep learning inference to enterprise workloads to help address fraud in real-time, to identify and stop a variety of fraud attacks and crime quickly and accurately – while improving customer and citizen experiences.
The AI chip includes on-chip acceleration for AI inference during a transaction. The breakthrough of the new on-chip hardware acceleration, which took three years to develop, is intended to help customers achieve business insights at scale across banking, finance, trading, insurance applications, and customer interactions.
According to recent research commissioned by the tech company, 90 % of respondents said it is important to be able to build and run AI projects regardless of where their data resides. According to the company, the technology is intended to allow applications to run efficiently regardless of where the data resides, assisting in overcoming traditional enterprise AI approaches that tend to require significant memory and data movement capabilities to handle inferencing.
Businesses in the Philippines require this technology support; in 2017, an internal fraud involving the theft of 1.75 billion pesos ($34.5 million) at a major Philippine lender was revealed, in the latest controversy to afflict the Philippine banking sector. According to reports, the bank discovered the fraud after a client denied taking out the loans. During the coronavirus disease 2019 (Covid-19) pandemic, there was an increase in digital fraud attempts against businesses and consumers in the Philippines.
“With this tech, the accelerator close to mission-critical data and applications means that enterprises can conduct high volume inferencing for real-time sensitive transactions without invoking off-platform AI solutions, which may impact performance. Clients can also build and train AI models off-platform, deploy and infer on a system for analysis,” the company said.
As per the company, businesses typically use detection techniques to detect fraud after it has occurred, a process that can be time-consuming and compute-intensive due to the limitations of today’s technology, especially when fraud analysis and detection is performed far away from mission-critical transactions and data.
“Due to latency requirements, complex fraud detection often cannot be completed in real-time – meaning a bad actor could have already successfully purchased goods with a stolen credit card before the retailer is aware fraud has taken place,” it said.
The new chip has an innovative centralised design that enables clients to use the full power of the AI processor for AI-specific workloads, making it ideal for financial services workloads such as fraud detection, loan processing, trade clearing and settlement, anti-money laundering, and risk analysis. The chip has 8 processor cores with a deep superscalar out-of-order instruction pipeline and a clock frequency of more than 5GHz, which is optimised for the demands of heterogeneous enterprise-class workloads.
“With these innovations, clients will be positioned to enhance existing rules-based fraud detection or use machine learning, accelerate credit approval processes, improve customer service and profitability, identify which trades or transactions may fail, and propose solutions to create a more efficient settlement process,” said the tech company.
Fraud detection and prevention is not a one-time event. There is no beginning or endpoint. Rather, it is a continuous cycle of monitoring, detection, decisions, case management, and learning that feeds detection improvements back into the system. Organisations should strive to learn from fraud incidents continuously and incorporate the findings into future monitoring and detection processes. As artificial intelligence and machine learning become more common, the next generation of technologies is automating manual processes associated with combining large data sets and utilising behavioural analytics.
The 13th Singapore-US Strategic Security Policy Dialogue (SSPD) was convened, and co-chaired by Permanent Secretary of Defence, Chan Heng Kee and United States Acting Under Secretary of Defense for Policy, Sasha Baker. This dialogue, embedded within the 2005 Strategic Framework Agreement and Defence Cooperation Agreement, serves as a cornerstone for shaping the future of Singapore-US defence relations.
Beyond the traditional domains of defence, Singapore and the US are venturing into uncharted territory – cybersecurity and critical emerging technologies. This signifies a strategic shift that acknowledges the evolving nature of security threats in the digital age.
Both nations have recognised the enduring strength of their bilateral defence relationship. Singapore’s unwavering support for the U.S. regional presence, outlined in the 1990 Memorandum of Understanding (MoU) Regarding the U.S. use of Facilities (1990 MoU), remains a crucial pillar of their alliance. Simultaneously, the US continues to bolster the Singapore Armed Forces (SAF) capabilities through overseas training and technology access. This includes the RSAF’s acquisition of the cutting-edge F-35 fighter aircraft.
The dialogue marked a significant milestone by introducing discussions on cybersecurity. In an interconnected world, where information is power, securing digital infrastructure cannot be overstated.
By engaging in collaborative efforts to enhance their cyber defences, Singapore and the US are not only safeguarding their interests but also contributing to global cybersecurity resilience. This proactive approach sets a precedent for other nations to follow suit and collectively combat cyber threats.
Also, the emphasis on critical and emerging technologies highlights the foresight of both nations. In today’s fast-paced technological landscape, advancements in areas such as artificial intelligence (AI), quantum computing, and biotechnology can tip the scales of national security.
By pooling their expertise and resources, Singapore and the US are positioning themselves at the forefront of innovation, ensuring they are well-prepared for the security challenges of the future.
The dialogue also featured discussions on regional developments and the continued engagement of the US in the Asia-Pacific region. The ASEAN Defense Ministers’ Meeting (ADMM)-Plus framework serves as a platform for constructive dialogue and cooperation among ASEAN member states and their partners. Singapore and the US both recognise the significance of this framework in promoting regional stability and security.
Regular bilateral and multilateral training exercises form another vital facet of this partnership. Exercises like Tiger Balm, Pacific Griffin, Commando Sling, Red Flag, and Super Garuda Shield serve as platforms for joint training and skill development. These exercises not only enhance the operational readiness of both armed forces but also foster greater cooperation and understanding between Singapore and the US.
One noteworthy aspect of this collaboration is the US’s support for SAF’s overseas training, exemplified by Exercise Forging Sabre. This training, conducted at Mountain Home Air Force Base, Idaho, has played a pivotal role in honing the skills of RSAF personnel.
In 2023, two RSAF detachments, Peace Carvin II (F-16 fighter aircraft) and Peace Vanguard (Apache AH-64 helicopters), marked their 30th and 20th anniversaries of training in the US, respectively. These milestones are a testament to the enduring nature of the Singapore-US defence relationship.
The 13th Singapore-US Strategic Security Policy Dialogue not only reaffirmed the steadfast commitment of both nations to their long-standing defence partnership but also showcased their readiness to adapt to the evolving security landscape.
As reports cited the inclusion of cybersecurity and critical emerging technologies in the discussions reflects the forward-thinking approach to safeguarding the national interests of both nations. As they continue to train together, exchange knowledge, and invest in cutting-edge technologies, Singapore and the US are poised to navigate the complex challenges of the future, hand in hand.
The Hong Kong Monetary Authority (HKMA) announced the initiation of the Green Fintech Competition, which will serve as a pivotal step towards promoting the integration of innovative green fintech solutions within the Hong Kong banking sector. The primary objective of this initiative is to bolster the resilience of the banking industry against the looming climate risks.
The competition is a call to action for both local green fintech companies and their international counterparts. It invites these innovative firms to participate and demonstrate how their technological solutions can be harnessed effectively within the banking industry. The competition centres around four key themes, each addressing a crucial aspect of sustainable finance:
- Net-zero Transition or Transition Planning: This theme emphasises the pivotal role of fintech in facilitating the transition towards a net-zero economy. It aims to uncover innovative solutions that can assist banks in their journey towards carbon neutrality.
- Climate Risk Management: Climate risks have become a central concern in the financial sector. Fintech solutions are sought to help banks better understand, assess, and manage these risks effectively.
- Green and Sustainable Finance: The theme of green and sustainable finance underscores the importance of fintech in enabling financial institutions to channel their resources towards environmentally responsible investments.
- Sustainability or Climate-related Disclosure and Reporting: Transparency and disclosure are critical components of sustainable finance. Fintech solutions that enhance the disclosure and reporting of sustainability and climate-related information are in high demand.
These themes were carefully crafted in response to industry feedback, reflecting the pressing challenges faced by the Hong Kong banking sector. The competition encourages participating firms to develop market-ready solutions that align with at least one of these themes. Detailed problem statements for each theme can be found on the official competition website, offering valuable guidance for prospective participants. Firms are also free to propose alternative problem statements that they believe are relevant to the overarching themes.
A panel of judges will evaluate the submitted solutions, comprising representatives from the public and private sectors. This panel includes experts from the banking and technology sectors, professional associations, and academia. The winners of the competition will be granted a unique opportunity to fast-track their entry into the Cyberport Incubation Program. This program is designed to provide comprehensive business support, aiding in the development and growth of green fintech solutions.
Finalists will be invited to participate in and host exhibition booths at the HKMA’s “Green and Sustainable Banking Conference,” scheduled for December 2023, offering a platform for in-depth exchanges with industry professionals and an opportunity to showcase their solutions. It also serves as a valuable forum for exploring potential collaborations with key stakeholders in the financial sector.
In addition to these benefits, participants will have access to tailored consultation services provided by InvestHK. These services are designed to offer further insights into the Hong Kong market, ensuring that their fintech solutions are finely tuned to meet the specific needs and demands of this dynamic financial hub.
The initiative represents a significant step forward in embracing innovative fintech solutions to address critical environmental and sustainability challenges. By inviting participation from both local and global green fintech firms, the competition aims to harness the collective power of technology and finance to build a more sustainable future for the banking industry in Hong Kong and beyond.
Previously, OpenGov Asia reported on the recent bilateral meeting between the Central Bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) holds great significance for the Green Fintech Competition initiated by the HKMA. During the meeting, the central banks agreed to strengthen collaboration in key areas including financial infrastructure, financial market connectivity, and virtual asset regulations, all of which align with the competition’s objectives.
This collaboration, along with the establishment of a joint working group and knowledge-sharing initiatives, is set to amplify the impact of initiatives like the Green Fintech Competition by creating a more interconnected and sustainable global financial ecosystem.
The Centre for Memory Studies at the Indian Institute of Technology, Madras (IIT-Madras) has introduced the ‘MovingMemory’ application, which harnesses both augmented reality and virtual reality (AR/VR) technologies to capture diverse moving models of memory through digital reconstruction. It was designed to enhance the tourist experience at cultural and heritage sites. It offers virtual tours of famous places in India.
The app’s features allow users to choose their preferred avatar and navigate through three-dimensional spaces. According to a statement from IIT-Madras, it is embedded with additional layers of video, audio, 3D images, and interactive elements which may be used as models for sustainable and heritage-oriented pedagogic and research approaches.
Once the app becomes available to the public, MovingMemory can be accessed from both Android and iOS devices, as well as through browser-based platforms, setting it apart as a uniquely inclusive application. It is a spatial app created with the capability to exist within the metaverse realm.
MovingMemory was introduced at the second annual conference of the Indian Network for Memory Studies, titled ‘Memory, Ecology, and Sustainability.’ It was organised jointly by the Indian Network for Memory Studies and the Centre for Memory Studies at IIT- Madras. It covers a wide range of human-centred technologies and policies related to cultural memory and sustainable development goals, both within India and on a global scale.
At the inaugural event, IIT-Madras Director, V. Kamakoti, said, “It is crucial that we foreground the urgent need to incorporate collective memory in our understanding and ability to anticipate policies related to ecological issues such as climate change. Human as well as non-human forms of memory (such as the memory of water and the memory of nature) such as the Spanish Flu and the 2015 Chennai floods may be studied through interdisciplinary and collaborative formats in order to further memory studies as a discipline.”
The conference aims to connect rituals of remembering and experiencing the environment to systems of sustainability, which assume material, cultural, and technological dimensions through significant events like disasters and floods and long-term processes of change.
The international conference attracted approximately 100 presenters and more than 500 attendees from across India, the United States, the United Kingdom, Germany, New Zealand, Morocco, Canada, Sweden, Bangladesh, and other countries.
An official at the event said that the conference, like all other research activities at the Centre for Memory Studies at IIT-Madras, seeks to bridge technology studies and humanities. Its purpose is to provide a more complex model of engaging with memory, ecology, and sustainability, while also connecting to issues such as disaster studies, anticipatory governance, and durability.
Another expert from IIT-Madras noted the importance of reexamining pre-modern modes of memory and resilience and integrating those with the post-modern modes through which ecology and sustainability practices may receive a more nuanced understanding. These interdisciplinary practices have triggered a paradigm shift in both humanities education and research.
IIT-Madras has undertaken several initiatives in the field of AR/VR. In April, it announced it was developing instructional and educational models that use AR/VR technologies, aimed at assisting secondary schools in rural regions of the country. As OpenGov Asia reported, the initiative provides students with unique opportunities to engage in immersive and experiential learning through VR-enabled technology. Subjects like social science, history, sciences, and languages can be effectively taught using AR/VR world-building, digital storytelling, and educational games. An inaugural AR-based mobile app was launched to capture the history of the transnational Anglo-Indian community across 500 years.
Indonesian Foreign Minister Retno Marsudi highlighted the digital dimension in the country’s counter-terrorism strategies during her recent address at the Ministerial Plenary Meeting of the Global Counter-Terrorism Forum (GCTF) in New York.
Minister Retno emphasised the significance of comprehensive rehabilitation and reintegration (R&R) efforts within Indonesia. Notably, these efforts extend beyond former terrorist inmates, encompassing strengthening communities and the environments that receive them. The focus on digital aspects of R&R is evident in Indonesia’s approach.
Indonesia has adopted a multifaceted strategy to counter extremism, as outlined in its National Action Plan for Prevention and Countering Extremism. This strategy underscores the “whole-of-government” and “whole-of-society” approaches, highlighting the collaborative roles of the government and civil society. Combining hard and soft approaches, Indonesia actively engages communities and fosters international cooperation in its counter-terrorism efforts.
The digital dimension is also prominent in Indonesia’s second pillar of counter-terrorism strategy, which aims to harness technological advancements while ensuring they are not misused for extremist purposes. The rapid evolution of technology has created opportunities for disseminating extremist ideas, demanding constant vigilance. In response, Indonesia introduced the “Pusat Pengetahuan Indonesia (I-KHub),” or the Indonesian Knowledge Hub.
I-KHub is not merely a digital repository of information but a dynamic platform that actively contributes to Indonesia’s counter-terrorism endeavours. Integrating data systems and facilitating evidence-based decision-making empowers policymakers, law enforcement agencies, and community leaders with actionable insights.
One of the critical features of I-KHub is its ability to analyse trends and patterns in extremist activities. Leveraging advanced data analytics, it can identify emerging threats and hotspots, allowing for proactive measures to be taken. This early warning system is instrumental in preventing extremist ideologies from taking hold in vulnerable communities.
Moreover, I-KHub is a collaborative space where experts, researchers, and stakeholders from various sectors can share knowledge and best practices. This collective intelligence enriches the understanding of extremist narratives and recruitment tactics and facilitates the development of effective counter-narratives.
The platform’s outreach extends to educational institutions, where it supports curriculum development aimed at countering extremism. I-KHub is vital in promoting digital literacy and critical thinking among students by providing educators with relevant resources and insights. This proactive approach helps inoculate young minds against the allure of extremist ideologies.
In the digital realm, I-KHub monitors online spaces where extremist content proliferates. It can promptly identify and report such content through advanced algorithms and data analysis. This collaborative effort with tech companies and social media platforms contributes to removing extremist material from the internet, disrupting the digital recruitment efforts of extremist groups.
The third aspect of Indonesia’s counter-terrorism strategy focuses on creating a secure environment to counter extremism. This includes digital-driven educational programmes targeting women and children. Minister Retno highlighted that extremist ideologies thrive in environments rife with hatred, emphasising the role of digital tools in promoting understanding, tolerance, and peace.
In her closing, Minister Retno expressed that GCTF member countries would firmly commit to ensuring the inclusive implementation of the R&R strategy. The Global Counter-Terrorism Forum is a vital international platform for global cooperation and information exchange on counter-terrorism and violence-based extremism.
Indonesia underscores the country’s commitment to harnessing technology for a safer and more peaceful society. Indonesia’s multifaceted counter-terrorism approach, particularly its emphasis on digital knowledge sharing through I-KHub, reflects its dedication to addressing the global challenge of extremism with modern tools and strategies.
The technology landscape constantly seeks high-power, energy-efficient devices. 3D-stacked electronics offer exciting potential, but overheating is a challenge due to their compact design. Excess heat can cause performance issues and damage. Thankfully, a new solution involving magnetic fields and innovative materials has emerged to address this challenge, ensuring these devices remain cool and efficient.
At the forefront of this breakthrough is a team of scientists led by Assistant Professor Hortense Le Ferrand of the Nanyang Technological University of Singapore – School of Mechanical and Aerospace Engineering. They have embarked on a journey to tame the heat generated by 3D-stacked electronics and ensure they operate at peak performance.
The key to their innovation lies in a material called hexagonal boron nitride (BN), known for its exceptional heat-dissipating properties. To make BN responsive to their needs, the researchers coated microscopic BN particles with iron oxide. This strategic move rendered the particles magnetic, paving the way for precise control.
Next, they suspended these coated particles in a solvent and brought magnetic fields into play. The magic happened as the magnetic fields aligned the BN particles in various orientations. This alignment turned out to be the key to effective heat management.
The team conducted rigorous tests to gauge the heat-dissipating capabilities of these precisely oriented BN particles. What they discovered was nothing short of revolutionary: when the particles were aligned vertically, they proved incredibly efficient at channelling heat away from their source. This breakthrough alone promised a significant leap forward in the cooling technology of high-power devices.
But the innovation didn’t stop there. The orientation of the particles could also be tailored to direct heat in different directions, a flexibility that opens a world of possibilities. For instance, when these particles find themselves sandwiched between two heat-emitting electronic components, they can be configured to direct heat sideways, ensuring optimal thermal management.
Assist Prof Hortense believes this novel approach to aligning and orienting BN particles offers exciting new prospects for managing heat in high-power electronic devices. It’s a promising development that could pave the way for the widespread adoption of 3D-stacked electronics, ushering in an era of high-performance, energy-efficient devices without the nagging concern of overheating.
Preventing high-power devices ensures sustained performance. Overheating can cause these devices to throttle their performance or even shut down altogether. This can have a significant impact on productivity and functionality, especially in critical applications.
Further, managing heat is crucial for the longevity of these devices. Excessive heat can damage internal components over time, leading to a shorter lifespan. This, in turn, can result in frequent replacements, which can be costly for both consumers and manufacturers.
Besides, there are safety concerns associated with overheating. In extreme cases, it can pose a fire hazard or create electrical safety risks. Proper heat management is vital to mitigate these dangers and ensure the safe operation of high-power devices.
Efficient cooling also contributes to energy efficiency. When devices operate within their optimal temperature range, they consume less power. This not only reduces energy costs but also lessens the environmental impact.
Also, reliable operation is paramount for high-power devices, particularly in critical applications like medical equipment and aerospace technology. Overheating can lead to system failures, which may have severe consequences; hence, effective heat management is crucial to maintain the reliability of these devices.
The Indian Institute of Technology, Madras (IIT-Madras) has revealed that its scientists creating a portable, point-of-use device for identifying heavy metals in both soil and water. Research from the Ministry of Jal Shakti shows that over 36,000 rural habitations in India are grappling with issues related to contamination from fluoride, arsenic, and heavy metals in their drinking water sources.
According to a statement from IIT-Madras, the primary aim of the research is to package the technology into an engineered device, which will be programmed to deliver a user-friendly, non-technical read-out value of the soil quality index on a mobile phone-like application.
Currently, there are no field-usable or point-of-use solutions available for laypeople to use for detecting heavy metals in soil. The presence of heavy metals in soil also impacts soil quality by contributing to soil salinity. This can have a detrimental impact on global food security due to decreased agricultural yields and potential adverse effects on human health.
Sophisticated methods, such as the Inductively Coupled Plasma-Optical Emission Spectroscopy (ICP-OES) technique, are not accessible or user-friendly for laypeople and farmers because they involve complex and time-consuming procedures and heavily depend on advanced laboratory facilities. A portable, user-friendly device that can be operated by non-experts holds significant advantages from both social and economic standpoints.
Emphasising the potential impact of this technology, IIT-Madras Professor Sreeram K Kalpathy stated that given the heavy reliance of the Indian population on agriculture, there is an urgent need for technological solutions to detect and measure heavy metal concentrations. This would empower farmers with the information necessary to make informed decisions about which crops to cultivate and when to make interventions.
Current research efforts are focused on achieving higher resolution detection capabilities for copper, lead, and cadmium (in parts per million levels), as well as attaining the selective detection of specific metals.
The team is presently in the process of conducting tests on real soil and water samples to validate the concept. In this regard, with the assistance of the Rural Technology Action Group at IIT-Madras (RUTAG-IITM), they have also analysed water quality and the presence of heavy metals in water samples gathered from various temple tanks in Rameswaram, Tamil Nadu. The aim is to have the technology validated and demonstrated in a field environment over the next 3-5 years.
The government has committed to rejuvenating 75 water bodies in each district of the country. Last month, the Meghalaya state government announced plans to deploy an artificial intelligence (AI)-powered robotic boat to clean Umiam Lake, which is polluted with plastic waste.
As OpenGov Asia reported, the Umkharh and Umshyrpi rivers course through Shillong, the state capital, carrying substantial quantities of plastic waste daily and depositing it into the southern portion of the lake. This area is only accessible by boat.
As part of the Smart Village Movement, a non-profit collaborating with the state government on various initiatives, a Hong Kong company was selected to showcase its cleaning technology. The small boat brought by the company can swiftly remove 200-400 kg of waste each day, allowing for a speedy cleanup of all the waste within the next few months if the larger boat is put into operation. Currently, the company has boats that clean waste in Varanasi and Bengaluru.
The Government of Western Australia is taking steps to promote the growth of small to medium-sized local businesses by offering grants totalling over AU$3 million. These grants are intended to enhance their capabilities and competitiveness, enabling them to pursue contracts from both the government and private sector.
Known as the Local Capability Fund (LCF), this initiative serves as a crucial resource for recipients looking to expand their capacity and improve their competitiveness in supplying goods, services, and works to the government, major projects, and other significant markets.
For the upcoming fiscal year of 2023-2024, the government has announced four new LCF rounds, collectively amounting to AU$2.2 million in funding, with individual grants of up to AU$50,000. These four rounds are designed to cater to specific needs and priorities:
- Supplying Key Projects Round: This round aims to support businesses across the state in supplying essential goods and services to key government and private sector projects within priority sector markets.
- Aboriginal Business Round: This round is dedicated to businesses with a majority Aboriginal ownership. It seeks to assist these enterprises in supplying goods, services, and works to both the government and the private sector.
- National and International Standards Compliance Round: To ensure businesses adhere to the highest industry standards, this round provides financial assistance for engaging external experts to implement and obtain third-party certification for seven specific national and international standards.
- Digital Transformation Round (Upcoming): Soon, the LCF will introduce a Digital Transformation Round to provide initial support to eligible businesses in adopting and leveraging digital technologies and data. This round aims to advance the government’s understanding of digital needs in the business landscape.
Additionally, nine regional LCF rounds will be launched progressively throughout 2023-24, totalling AU$900,000 in funding with grants of up to AU$20,000. These rounds will specifically cater to businesses in regional areas, aiming to help them enhance their services and competitiveness.
Since its inception, the LCF has been instrumental in providing funding to over 600 businesses, totalling AU$22.7 million. This financial support has played a pivotal role in these businesses securing contract awards exceeding AU$1.05 billion. Beyond financial benefits, the LCF has contributed to creating more than 2,000 employment opportunities and nearly 250 apprenticeships.
The Minister Assisting the Minister for State and Industry Development, Jobs, and Trade stated that the Local Capability Fund has served as a catalyst for numerous businesses, infusing tens of millions in funding to propel their expansion. This program has not only facilitated access to over 2,000 employment opportunities but has also supported the development of 250 apprenticeships.
The Government, through its representative, wholeheartedly encourages businesses to grasp this opportunity by submitting grant applications. This initiative will empower them in their pursuits to secure contracts from both government and private sector organisations.
In today’s fast-paced business landscape, technology plays an indispensable role in enhancing efficiency, competitiveness, and growth prospects for businesses of all sizes. The Cook Government recognises this and aims to empower local businesses through the Local Capability Fund, providing them with the financial means to embrace and leverage technology. This support is especially timely as the world becomes increasingly digital and data-driven.
The new Digital Transformation Round, set to be launched in the coming weeks, underscores the government’s commitment to assisting businesses in harnessing the power of digital technologies and data. In an era where businesses must adapt to technological advancements to remain relevant and competitive, this initiative is poised to make a significant impact.
With the Digital Transformation Round, eligible businesses will have access to vital resources and support to embark on their digital journey. This includes financial assistance, expertise, and guidance on adopting and utilising digital technologies effectively. Whether it’s transitioning to cloud-based operations, implementing data analytics, or enhancing online presence, this initiative aims to equip businesses with the tools they need to thrive in a digital age.
Beyond financial support, the Digital Transformation Round also aligns with the government’s broader mission of understanding the specific technological needs of businesses. By collecting insights and feedback from participating enterprises, the government can shape future policies and initiatives to better serve the evolving tech landscape.
OpenGov Asia previously reported that the Vietnam-Australia Digital Forum 2023, organised by Vietnam’s Ministry of Information and Communications (MIC), in collaboration with the Australian Trade and Investment Commission (Austrade) and the NSW Trade and Investment Department, reflects the global importance of digital collaboration. This event, held during Minister Nguyen Manh Hung’s visit to Australia, signifies the commitment of both nations to enhance cooperation in information and communication technology.
It is part of the MIC’s broader 2023 initiatives to facilitate Vietnam’s digital business community expansion globally, with similar programs underway in countries like the United States, Japan, and Europe. These efforts underline the growing significance of international partnerships in fostering innovation, knowledge sharing, and economic growth through technology.