14 Jul 2021
Singapore to Invest S$50 Million Over Next Five Years to Bolster Digital Trust Capabilities
This investment will allow
Singapore to seize new opportunities and extend its strength as a trusted
digital innovation hub in the digital economy
Singapore, 14 July
2021 – The Infocomm Media Development Authority (IMDA) and National
Research Foundation Singapore (NRF) will invest S$50 million over the next five
years to develop our digital trust capabilities.
Announced by Singapore
Minister for Communications and Information Mrs Josephine Teo at the
ATxAI Conference during Asia Tech x Singapore (ATxSG), this investment will
allow Singapore to tap on new possibilities and demands arising from a global
digital trust market that is expected to grow exponentially. It further enables
Singapore to extend its strength as a trusted hub into the digital realm.
To do this, IMDA will
bring together research institutions, institutes of higher learning, and the
industry, to drive research and translation in trust technologies. Efforts will
be focused on addressing industry needs and unlocking new opportunities enabled
by emerging digital trust technologies, and some key areas of focus will
- Privacy-preserving technologies, which enable organisations to
from data while keeping the information and source protected;
- Technologies that address emerging areas
in decentralised identity and verification, allowing us to build
future-ready capabilities for the next iteration of the internet; and
- Testing and assurance, to provide
confidence that digital technologies are safe and trustworthy, and allow
consumers and stakeholders to transact with peace of mind.
“Singapore believes in a
balanced and collaborative approach to AI governance – one that can
interoperate with other international AI governance approaches. To this end,
Singapore actively engages in multilateral discussions at international
platforms such as UNESCO, OECD and Global Partnership on AI. Through such
partnerships, we hope to build trust in the digital domain at a global level,”
said Mrs Teo.
Mrs Teo was speaking as
the Guest-of-Honour at the ATxAI Conference. She emphasised the importance of a
collaborative approach in building a trusted digital environment for the
deployment and adoption of digital technologies, and provided insight into
Singapore’s digital agenda in helping industry build trust with stakeholders
through the development of testing and certification programmes. This builds on
our existing efforts to develop practical guidelines on deploying AI responsibly
via the Model AI Governance Framework. .
Held on 14 July,
the ATxAI Conference organised by IMDA, Personal Data
Protection Commission, and the National University of Singapore, brought
together industry thought leaders, policymakers and experts from the East and
West to discuss leading technological trends and their implications for
businesses and policy making, and provided insights on the value of AI
governance to the industry.
For more information on ATxSG, please visit the website here.
For more details, kindly
Address by Minister Josephine Teo at ATxAI Conference
(2) B-roll of Minister Josephine Teo’s keynote
address can be found here
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About Asia Tech x
Asia Tech x Singapore
(ATxSG) is Asia’s flagship tech event where technology intersects with society
and the digital economy. Taking place from 13 to 16 July 2021, ATxSG is
organised by the Infocomm Media Development Authority (IMDA) and Informa Tech
and supported by the Singapore Tourism Board (STB). This inaugural event builds
on the foundations of Singapore’s Smart Nation Innovation Week and Informa
Tech’s ConnecTechAsia into a single flagship tech platform led by four main
segments – ATxSummit, ATxEnterprise, ATxImpact,
ATxSG drives conversations
only possible in Singapore across business, tech and government that will shape
our shared digital future. It enables participants to network and keep their
finger on the pulse of latest tech trends, challenges and opportunities.
For more information on
the event, please visit asiatechxsg.com.
Media Development Authority (IMDA)
The Infocomm Media
Development Authority (IMDA) leads Singapore’s digital transformation with
infocomm media. To do this, IMDA will develop a dynamic digital economy and a
cohesive digital society, driven by an exceptional infocomm media (ICM)
ecosystem – by developing talent, strengthening business capabilities, and
enhancing Singapore's ICM infrastructure. IMDA also regulates the
telecommunications and media sectors to safeguard consumer interests while
fostering a pro-business environment, and enhances Singapore’s data protection
regime through the Personal Data Protection Commission.
For more news and
information, visit www.imda.gov.sg or follow IMDA on Facebook
IMDAsg and Twitter @IMDAsg.
Media Contact – Informa
Nigel Chen – IMDA
Tel: +65 9478 3380
Jonathan Lim – LEWIS
Tel: +65 9777 7941