The Singapore Apex Business Summit explores how smart technology is impacting the future of work

'Agility in Action in a 100x World' and 'Businesses as a 'Force for Good". These were the themes of the breakout sessions on Day One of the Singapore APEX Business Summit (SABS). The summit, held between 23 to 25 July 2024 at Marina Bay Sands Expo & Convention Centre, was organised by the Singapore Business Federation (SBF) along with event partner MP International Group.

The theme for Day One was "End of Business as Usual: Smart Technology and the Future of Work," which aimed to address the challenges of how smart technologies have disrupted work and how the future of work will impact businesses.

The event also included breakout sessions centred around a rapidly evolving technological landscape. 

The takeaway from these sessions is that businesses must reframe their digital investment strategies to navigate uncertainties and drive positive social change into social impact initiatives. Businesses also must adopt smart technologies amid an evolving technological landscape and how social change has transformed through community partnerships.

Agility and Purpose through evolving technological landscape

In today's rapidly evolving technological landscape, agility and purpose have become more crucial than ever. To that end, the breakout session on 'Agility in Action in a 100x World' underscored the need for a balanced approach to digital transformation, considering both technological and human factors in the face of evolving technological demands and leveraging innovation to stay competitive and relevant.

"In a tech-led, tech-centric world, it has to start with: Who are you solving for? What problem are you solving? And then, what will that solution look like?" said Mr Quek Siu Rui, Co-founder and Chief Executive Officer of ecommerce platform Carousell.

Quek, who was one of the speakers, spoke about how the ecommerce platform has transitioned away from a technology-driven company. He adds that today, the company is also embracing offline solutions like physical stores to meet user needs. Tech-centric businesses, he asserts, need to consider the value of offline interactions and physical touchpoints in enhancing customer experience and trust.

Another speaker, Mr Lim Wai Mun, Chief Executive Officer of telemedicine platform DoctorAnywhere, spoke of integrating health services by shifting from telemedicine to a broader 'hospital anywhere' concept in meeting comprehensive healthcare needs through the evolution and expansion of digital services.

Lim explained that DoctorAnywhere started as a telemedicine platform, but what the platform is building on today is a broader vision — from doctors anywhere to hospitals anywhere. He believes that technology would play a crucial role in reducing healthcare costs through improving efficiency and transparency in the healthcare system.

Transformative power in social change

The breakout session on 'Businesses as a 'Force for Good' aims to foster matchmaking discussions between companies using a cafe-style format. Corporate representatives from companies such as Amazing Speech Therapy, Birds of Paradise, and Decadance Co. discuss their contributions to society through community partnerships, highlighting the positive impacts on employees, businesses, and the community.

An example of this is shared by Mr Edwin Lim, Director of botanical gelato boutique, Birds of Paradise, who explained his vision of how their gelato could make the world a better place.

Through partnering with long-term charity partner equal.sg in fund-raising, outreach, and events, it transforms lives through assisted animal learning, which aims to foster social-emotional development. It also encourages inclusive hiring from disadvantaged groups, from the elderly to former inmates, at their workplaces, normalising their acceptance in society.

For their efforts, they were awarded the Champion of Good award, the highest recognition by the National Volunteer and Philanthropy Centre (NVPC) under its Company of Good (COG) programme.

Preparing for a Future with Technology and Social Impact

Also present at the opening ceremony of SABS, Deputy Prime Minister Heng Swee Keat highlighted the importance of businesses being prepared for the future and leveraging resources and expertise in adopting solutions that benefit society. 

He cites the example of the Committee on the Future Economy, where government, businesses, and labour movements collaborated to create the Industry Transformation Maps (ITMs), which now account for 80% of Singapore's GDP.

Additionally, he recognised companies making a significant societal impact, noting their success in attracting capital and talent to serve societal needs better.

The tripartite framework in Singapore is important because of the trust among labour, businesses, and the government. Minister Heng believes that for any change movement to succeed, trust is critical, which would translate into aligning with interests to achieve the mission of benefitting society.