IMDA Outlines Digital Economy Strategies for Singapore

The Infocomm Media Development Authority (IMDA) released the Industry Transformation Map (ITM) for the Infocomm Media sector, which details the strategies to prepare Singapore for the digital economy.

Minister for Communications and Information Yaacob Ibrahim made a speech at the launch of the ITM during IMDA’s one-year anniversary. He said the ITM plans to increase the ICM industry’s value-add by approximately 6 percent each year. It is also anticipated to employ more than 210,000 workers (up from last year) and create over 13,000 new PMET jobs by 2020.

The ICM ITM will prepare Singapore for the digital economy in three ways. First, by investing and building capabilities in four frontier technologies—artificial intelligence and data analytics, cybersecurity, immersive media and internet of things. It will also bolster the core of the ICM sector, and prep the next generation of ICM professionals and companies for future job positions and business opportunities. In addition, it will guide companies and workforce from the other sectors in adopting digital tech to enhance productivity and efficiency.