Commentary: The revival of the digital economy – building citizen confidence as Smart Nation momentum picks up

SINGAPORE: In November 2014, the Singapore government launched Smart Nation, an initiative that aims to transform and better Singapore’s government, businesses, and society with digital technology.AdvertisementThe digital economy’s short history gives us a guide. The digital economy is not new – the widespread interest now among governments and companies is in fact a revival.

In creating the world’s first smart nation, Singapore is also creating something new and unprecedented, and thus must avoid falling into a similar situation. It must tackle the risks posed by the current gap between vision and reality. It must also sustain citizen confidence and support until the gap is closed.Two panel discussions on digital transformation across nations and cities were held as part of the Smart Nation Innovations Week opening symposium on Jun 5, 2018.

An example of such a project is the National Digital Identity system which allows citizens and businesses to transact online more seamlessly. With National Digital Identity, users can do a range of things online more conveniently and securely, from using e-government services to signing digital agreements.

Those that have scaled are efforts to digitise existing paper-based or manual processes, which feel like a catch-up with what is already experienced elsewhere, such as in e-commerce. In 2018, in a World Economic Forum survey with internet platform Sea, 40 per cent of Southeast Asian youths felt technology would reduce the number of jobs available .

There is some urgency – the Institute of Policy Studies found that 53.4 per cent of Singaporeans polled in 2018 were optimistic about Smart Nation initiatives for the next 12 months, compared to 55.9 per cent in 2017. 10x innovations that help citizens tackle everyday challenges could thus be articulated and designed. When citizens see and feel this 10x difference in their lives, they will feel more confident and lend support to further efforts, boosting the transformative impact of these innovations.

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