Singapore one of most tech-ready economies (Paris)
It takes top spot with Australia, Sweden in study by Economist Intelligence Unit
Singapore is poised to be one of the most technologically ready economies over the next few years, alongside Australia and Sweden, a new study by the Economist Intelligence Unit (EIU) has found.
Titled Preparing For Disruption: Technological Readiness Ranking, the new report released yesterday looked at 82 of the world's largest economies, and focused on how future-oriented these business environments are.
Three key elements of the ranking are access to the Internet (which looks at Internet usage and mobile phone subscriptions); the digital economy infrastructure (including e-commerce, e-government and cyber security); and openness to innovation (exploring international patents, research and development spending, and research infrastructure).
Another key finding of the study is that government investment will drive a broad-based improvement in countries' tech-readiness in the next five years.
Specifically, spending on e-government, cyber security and a robust e-commerce environment will increasingly be seen as a policy priority, the EIU said.
In addition, China has seen strong growth in its patent applications in recent years.
Nonetheless, based on EIU's measure of patent grants as a proxy for innovation, the United States is the clear front runner, the intelligence unit said.