- 89% of Singapore employers say that the pandemic has accelerated the adoption of Cloud Computing/ Machine Learning technologies in their companies
- They cite the obstacles to adopting Cloud Computing/ Machine Learning technologies are ‘the shortage of relevant in-house IT support’ (64%), ’employees lack of relevant skill sets’ (58%) and ‘the lack of financial resources’ (46%)
- Overall, a large majority (83%) maintain that Machine Learning will remain the most in-demand Artificial Intelligence (AI) skill in 2021, while 70% say they are willing to offer a premium for talent with AI and Machine Learning skills
SINGAPORE – Media OutReach – 5 February
2021 – Despite majority of Singapore employers
(89%) reporting that the COVID-19 pandemic has accelerated the adoption of cloud
computing and Machine Learning (ML) in their companies, obstacles abound. Singapore
business leaders say that the largest hindrance to adopting cloud computing and
ML technologies is the shortage of relevant in-house IT support (64%), amongst
other reasons such as ’employees do not have the relevant skill sets’ (58%) and
‘the lack of financial resources’ (46%).
These are some of
the key findings from the recently launched NTUC LearningHub (NTUC LHUB)
Industry Insights report on cloud computing and ML in Singapore. The report is based
on in-depth interviews with industry experts, such as Amazon Web Services (AWS)
and NTUC LHUB, and a survey with 300 hiring managers across industries in
Singapore.
While organisations
are keen to adopt cloud computing and ML to improve the company’s business
performance (64%), obtain business insights from Big Data (59%) and perform
mundane or tedious tasks (53%), a third of Singapore employers (32%) say their
companies have insufficient talent to implement cloud computing and ML
technologies.
To overcome this
shortage, companies say they have been upskilling employees that have relevant
skill sets/ roles (55%), and reskilling employees that have completely
different skill sets/ roles (44%). In a further show of how organisations were
willing to take steps to overcome this skills gap, three in five (61%) strongly
agree or agree that they will be open to hiring individuals with relevant
micro-credentials, even if these candidates has no relevant experience or
education degrees.
Looking to the
future, four in five employers (81%) agree or strongly agree that ML will be
the most in-demand Artificial Intelligence (AI) skill in 2021. Meanwhile, seven
out of 10 surveyed (70%) indicated they will be willing to offer a premium for
talent with AI and ML skills.
“The report reinforces the growing demand for a cloud-skilled workforce in
Singapore, and the critical need to upskill and reskill local talent”, said Tan
Lee Chew, Managing Director, ASEAN, Worldwide Public Sector, AWS. “The
collaboration across government, businesses, education and training
institutions will be instrumental in helping Singapore employers address these
skills gaps. AWS will continue to collaborate with training providers like NTUC
LearningHub to make skills training accessible to help Singaporeans, from
students to adult learners, to remain relevant today and prepare for the future.”
NTUC LHUB’s Head of
ICT, Isa Nasser also adds, “While much of the talent demand encompasses technical
positions such as data scientists and data engineers, businesses are also
looking for staff to pick up practical ML and data science skills sets that can
be applied to their existing work. That
is why in today’s digital age, most professionals would benefit greatly from
picking up some data science skills to enable them to deploy ML applications
and use cases in their organization. We highly urge workers to get started on equipping themselves
with ML skills, including understanding the core concepts of data science, as
well as familiarising themselves on the use of cloud or ML platforms such as Amazon
SageMaker.”
To download the
Industry Insights: Cloud Computing and ML report, visit
https://www.ntuclearninghub.com/machine-learning-cloud.
About NTUC LearningHub
NTUC
LearningHub is the leading Continuing Education and Training provider in Singapore,
which aims to transform the lifelong employability of working people. Since our
corporatisation in 2004, we have been working employers and individual learners
to provide learning solutions in areas such as Cloud, Infocomm Technology,
Healthcare, Employability & Literacy, Business Excellence, Workplace Safety
& Health, Security, Human Resources and Foreign Worker Training.
To
date, NTUC LearningHub has helped over 25,000 organisations and achieved over
2.5 million training places across more than 500 courses with a pool of over
460 certified trainers. As a Total Learning Solutions provider to
organisations, we also forge partnerships and offer a wide range of relevant
end-to-end training solutions and work constantly to improve our training
quality and delivery. In 2020, we have accelerated our foray into online
learning with our Virtual Live Classes and, through working with best-in-class
partners such as IBM, DuPont Sustainable Solutions and GO1, asynchronous online
courses.
For more
information, visit www.ntuclearninghub.com.
Services
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
Upcoming Events
A series of networking sessions with various business associations and trade organisations exploring high-value opportunities for business leaders and entrepreneurs looking to build the relationships that matter.
This integrated event will include a forum, dedicated business matching, site visits, a gala dinner and golf. The focus will be on regional food security issues and trends in the context of the supply chain, agriculture technology and trade regulations and policies.
The ASEAN two-wheeler market represents more than 25 per cent of the global market and growing exponentially. What are the business opportunities for Malaysia especially in the context of mobility, ESG and supply chain?
MGBF is hosting a networking session focusing on building a resilient future for critical industries as part of the networking series leading up to ASEAN's Food Security Nexus 2023.
MGBF In The News
Last week SPM results came out, 373,974 aspirants who have been waiting patiently over the last few months would now know their fate. Some 10,109 have received all A’s, the golden standard of academic success and the ticket to those looking to study the “more advanced” subjects in university. Proudly, […]
The classic knee-jerk reaction is to say, fire the coach, change the leadership of associations, and reduce the funding till they start performing better. This kind of negative reinforcement may work for kindergarten children, but we are dealing with high-performance adults – individuals much further along in their psychological and […]
Since its earliest tea plantations in 1929, Cameron Highlands has grown to become a key player in the agricultural landscape of Malaysia, producing 40 per cent of all vegetables grown. Despite Malaysia shifting its economic focus away from agriculture, the industry remains imperative for food security and the livelihoods of […]
Although at first glance the travel industry and the agricultural sector appear to have nothing in common, they actually share more than meets the eye. The economic benefits of tourism to the agricultural sector can be multiplied several times over. “Tourism brings the end consumers closer to the source, which […]
The Malaysia Global Business Forum (MGBF) recently held a high-level roundtable themed ‘Designing the Future of the Digital Economy’, attended by industry leaders and business associations. The guest of honour was Yang Berhormat Syerleena Abdul Rashid, the Member of Parliament (MP) for Bukit Bendera in Penang. The MP’s Special Session […]
The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022. According to the […]
The Founding Chairman of the Malaysia Global Business Forum (MGBF), Nordin Abdullah, today spoke on Bernama TV’s leading English talk show, The Brief, hosted by Jessy Chahal, on the topic of a stable political reality and what that means for the Malaysian economy. Nordin said, “The first thing that it […]
More than 1,100 years ago, Muhammad ibn Musa al-Khwarizmi was developing the mathematical formulas that we know today as algorithms which now have become so intertwined with the business fortunes of global media giants and the very fabric of geopolitics. A series of recent high level international reports have revealed […]
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic. The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second […]
Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen […]
The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one […]
Congratulations to Datuk Seri Ismail Sabri Yaakob for taking up the mantle of the ninth prime minister of Malaysia. There is nothing normal about the situation; it could not have been scripted but it has kept the spectrum of media, mainstream and social, gripped. The first order of business for […]
In a stirring speech to the nation, President Joseph R. Biden, Jr. stamped his brand of leadership on the presidency, in his first act as the 46th president of the United State of America, it signaled several shifts. Perhaps the weather was foreboding with snow falling before the ceremony that […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]
We live in the age of crisis. At the heart of any crisis is the threat of rapid change. Change too deep or too wide that the current coping mechanisms for an individual, corporation or government are unable to remain resilient. An unwelcome paradigm shift, like the proverbial spider, that […]
The Malaysia Global Business Forum (MGBF) has released a report following the roundtable on ‘Digital Resilience in the Corporate Sector’, which was recently held in Kuala Lumpur. In attendance as guest of honour was Deputy Minister of Communications and Multimedia, Datuk Zahidi Zainul Abidin. The report recommended several critical development […]
