Singapore has announced its plans to invest S$50 million ($37 million) to enhance its ‘digital trust’ capabilities. This investment will support research in the fields of AI and cybersecurity for future communication structures.
This investment will be made by Singapore as part of the Future Communications Research & development Programme. Singapore’s minister for communication and information Josephine Teo said that the country’s infocomm and media industry grew by 4.8% last year. But she also emphasized that that this development could come at a cost as there could be a deficit of trust. She further said that the country wants to create a healthy environment where businesses and consumers feel secure.
“Data breaches, cyber hacks, and identity theft have become more commonplace. Many victims are caught by surprise – the safety of their analogue world did not prepare them for the dangers in cyberspace. Having fallen prey, it is hard to know who or what to trust,” she said.
This announcement comes on the heels of the company’s investment in SGTraDex, a common data infrastructure and framework that would enable logistics players; shippers and buyers exchange trade data in a secure environment.
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