Special Session: Innovation Without Borders

Cybersecurity threats to governments and organisations are real.

Cybersecurity is fundamental for defence from adversary groups.

Ever-evolving tactics by adversary groups pose risks of collapsing governments and organisations’ cyber networks. These adversary groups attack for monetary, political and social gains.

Current Internet-of-Things (IoT) devices are built for functionality with little focus on security.

Gaps between Information Technology (IT) and Operational Technology (OT) are often exploited as a way of getting into organisations’ networks.

Impacts of cybersecurity hack can be harmful to both organisations and individuals.

Ransomware can disrupt operations, resulting in companies going out of business. Adversary groups also target individuals in organisations, bribing or threatening in exchange for entryway to exploit network.

Pace of disruption has become so high, that we need to anticipate value migration.

It’s important to understand the impact of Covid-19 across sectors and geographies.

Some sectors were temporarily affected while others saw permanent shifts. E-commerce industry grew by 24% globally as various industries shifted to online platforms.

Values can quickly migrate because of disruptors.

Using Tesla as an example of a disruptor in the electric vehicles industry, Tesla’s worth was far higher than Ford and General Motor’s combined in Quarter 1 2020 despite only started producing cars in 2003.

Understand the patterns and trends of innovation.

Shifts in technological adoption in one industry cascade impacts to other sectors. For example, rise in electric vehicles impacts a multitude of sectors, creating much higher impact and value creation.

To address threats, changes and uncertainties, be proactive and adjust strategies.

Best approach to face threats and disruptions involves a combination of human and machine talent.

Governments and organisations must invest in human and machine talent to assess risks, proactively plan solutions and ensure continuity of operations.

Mission-oriented collaboration between multiple stakeholders is crucial.

Disruptions such as the Covid-19 pandemic drive people to use their expertise to solve big problems in unison, creating new solutions and opportunities.

Leverage on support to create impacts.

Creating solutions requires support ranging from financial to regulations and must also leverage on existing infrastructure.