Asia's Evolving Tech Landscape: AI, 5G, Ecommerce Growth, Quantum Risks, and the Importance of Sustainability
Asia is rapidly becoming a global technology leader, fuelled by a dynamic market and a growing demand for innovation. This shift is apparent in several key trends, according to Andy Kiwanuka, Managing Director of CloserStill Media (Asia) and Tech Week Singapore Organiser.
AI
Artificial intelligence (AI) stands out as a major driving force in this technological evolution. Industries ranging from smart cities and healthcare to finance are rapidly adopting AI, leading to a surge in demand for data centers and solutions. This demand is transforming Asia's infrastructure, as Andy observes: "The growth of AI has also created unprecedented demand for data center and DC solutions in Asia Pacific, transforming the region’s infrastructure landscape."
5G
The rapid rollout of 5G further amplifies Asia's tech momentum. This advanced connectivity is not only enhancing communication but also underpinning the growth of other transformative technologies. The Internet of Things (IoT), autonomous vehicles, and smart infrastructure are all becoming more sophisticated and interconnected, powered by the capabilities of 5G.
Ecommerce
Andy Kiwanuka also emphasised the expansion of ecommerce. Attributing the information to a study conducted by Mckinsey. According to the research, Southeast Asia's ecommerce sector is projected to triple by 2026, reaching $230 billion in gross merchandise volume with a 22% CAGR. This growth is driven by increased smartphone penetration, online marketplace proliferation, and shifting consumer behaviour. While challenges like delivery delays exist, the market is expanding beyond apparel and electronics to include food, beauty, and home goods. Indonesia leads the region's ecommerce growth, contributing 51% of the total incremental GMV, and social commerce platforms are gaining prominence, mirroring trends seen in China.
Cybersecurity
The rapid digitalisation in Asia brings cybersecurity challenges, especially with AI integration and quantum computing advancements. Andy emphasises the potential of quantum computing while acknowledging its inherent security risks: "With computational power that could revolutionise industries, quantum computing is set to be a game-changer for businesses across the world. Like any advanced technology, this power comes with its own set of risks, particularly in the realm of cybersecurity. Industry experts agree that quantum computing poses real threats to encryption and data security. Though widespread adoption of quantum computing may still be years away, it's better to address these challenges proactively". Quantum technology is emerging from research laboratories and into commercial applications, as per an article by Dr. Kristin Gikes, EY Global Innovation Quantum Leader. If misused, it could pose substantial threats to current encryption methods, including public key infrastructure, secure software distribution, federated authorisation, secure email, and blockchain transactions. The concept of "harvest now, decrypt later" emphasises the necessity of implementing quantum-resistant cryptography. She asserts that in order to promptly adjust to more secure algorithms, businesses must prioritise crypto agility.
Sustainability
As Asia continues its technological ascent, sustainability will likely play an increasingly crucial role in shaping the region's tech landscape. In response to the increasing emphasis on environmental responsibility by businesses and governments, Andy notes that sustainability-focused innovations are gaining momentum. He stated, "There is an increasing emphasis on technologies that promote sustainable development, from green data centres to renewable energy solutions."
Andy Kiwanuka attributed the company's expansion in the region to the remarkable technological advancements and the rising global interest in Asia, particularly in Singapore, which were driven by the dynamic market, increasing demand for innovation, and rising digital adoption in Asia. The trend is illustrated by the event's expansion from 5,000 attendees in 2013 to over 25,000 in 2024, Tech Week Singapore. Singapore is a critical player in this growth due to its strategic location and attractive business environment. Kiwanuka emphasises the importance of Singapore's connectivity, accessibility, and vibrant tech community in its status as a global tech hub, which has attracted industry players and events like Tech Week Singapore.
He underscores CloserStill Media's commitment to providing platforms that foster the exchange of knowledge and collaboration among technology leaders, transcending conventional formats to promote the collective development of advanced technologies. Despite the prevalence of digital and hybrid formats, he maintains that physical events, such as Tech Week Singapore, remain highly advantageous and offered unparalleled opportunities for in-person networking, collaboration, and the direct experience of cutting-edge technologies. Kiwanuka says that ”As a hub for global tech and innovation, Asia continues to harness advanced technologies to drive economic growth, foster innovation, and promote sustainable development across various sectors.”
SOURCE: biz360.tv