Tech's been hit by layoffs. But Singapore is still investing big in its talent — in tech and beyond

On top of that, demand for individuals in "specialized tech areas" such as artificial intelligence and cybersecurity isn't limited to the tech sector, Chia told CNBC. Such tech workers are needed across multiple industries such as finance, manufacturing, logistics and professional services, he said.In finance, technology is the engine that "powers all the big banks," said Donald MacDonald, OCBC head of group data.

Data also plays a part in reducing risk — OCBC scans every transaction to detect scams and uses algorithms to figure out "who to lend to and … how much to lend," he said. "I see Singapore establishing [itself] as a kind of regional hub for A.I. and deep tech," MacDonald said.than 15,000 Singaporeans and placed them in specialized tech jobs, said Chia. The jobs span a range of industries, including financial services, wholesale and retail trade, and education, he added.

Source: News Formal (newsformal.com)

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