Our Newsletter

Blog

Singapore

New initiatives launched to help companies adopt emerging technologies (Channel NewsAsia)

SINGAPORE: Call centres of the future may be able to predict the reason for a customer’s call, and banks could prompt clients to raise their credit limit ahead of a weekend sale. This is Singapore’s vision for the services sector - termed Services 4.0 - as the country pushes for further of adoption of cutting-edge technologies and new methods of designing software solutions in the industry.

At the Infocomm Media Development Authority’s second SG:Digital Industry Day on Thursday (Nov 22), Communications and Information Minister S Iswaran offered a glimpse of how the “next generation” of Singapore’s services sector - which contributes nearly 70 per cent of the Republic’s gross domestic product (GDP) and up to 75 per cent of its workforce - could look like. “Much has been said about Industry 4.0 and its transformative impact on the manufacturing sector. But the services sector too is undergoing a similar transformation,” he said.

Using the banking sector as example, Mr Iswaran pointed out that not too long ago, customers had to physically go to a bank branch for simple transactions like withdrawals. But with ATMs and other technologies, that process has been automated and banks are going further to anticipate the services that clients need through artificial intelligence.

Mr Iswaran pointed to DBS Bank as an example of how services can be “more anticipatory and emphatic”. DBS has started to analyse the pattern of incidents encountered by their customers to predict the nature of their calls.

“This has helped customer service officers offer quicker solutions and reduce call handling time,” said Mr Iswaran.

GOING CLOUD NATIVE

To amplify these benefits, the Government is encouraging companies to build and run their applications on the cloud with flexible modular components - a method also known as cloud native architecture. Conventionally, software applications are developed as a block - which makes it hard for changes to be made and companies could take weeks or months to make amendments. 

But using cloud native architecture, developers have more flexibility to pick and choose the technical components they want. They can also do so quickly because these components could already be commercially-available online and have open standards.

“Cloud native architecture allows solution providers to be more nimble and responsive to customer’s needs and at a lower cost … (It) may sound like an advanced technology, but no company is too small or young to go cloud native,” said Mr Iswaran.

 

Tessaract.io. offers case management software to companies such as law and accounting firms.
(Photo: Mediacorp/Channel NewsAsia)

One company that has adopted such a method is Tessaract.io. The company offers case management software to companies such as law and accounting firms - which may ask for additional features like the ability to extract text from PDFs, or transcribe calls.

To read the rest of the article, please use this link: https://www.channelnewsasia.com/news/singapore/new-initiatives-launched-to-help-companies-adopt-emerging-10959828


By Channel NewsAsia | November 23rd, 2018

Comments Section

Leave Comment

Your email address will not be published.