Singapore’s Smart Nation ambitions are in full swing. Well-developed digital infrastructure and supportive government policies has made it a welcoming place for companies to setup operations and take flight their digital initiatives. In 2016, Singapore topped the Economist Intelligence Unit’s Asian Digital Transformation Index.
From smart home solutions, to the introduction of autonomous vehicles, to assistive and robotics technology in healthcare, Singapore continues to invest in research and development to build up its technological offerings and drive economic growth.
An industry that has an important role in this growth is manufacturing, which accounts for 20% to 25% of Singapore’s GDP. Countries like Germany and China have paved the way for smart manufacturing through their national initiatives Industrie 4.0 and Made in China 2025, and Singapore is following suit.
However, companies globally have struggled to understand what Industrie 4.0 truly means for them.
“Many manufacturers have provided feedback that Industrie 4.0 is often talked about in broad, all-encompassing terms in literature,” says Dr. Andreas Hauser, Director of Digital Service, TÜV SÜD. Industrie 4.0-related jargon and buzzwords have also been bandied about making it difficult for all businesses to understand what the offerings of Industrie 4.0 are. “There is a need to establish a common understanding of Industrie 4.0 by breaking down its concepts into digestible, key building blocks, and provide a clear articulation of the tangible benefits to companies,” says Dr. Hauser.
And this is where Singapore can do things differently. Enter: The Singapore Smart Industry Readiness Index (”Index”).