On April 4th, 2023, Frost & Sullivan hosted a Growth Council Think Tank titled “Business Resilience and Singapore – Charting Global Uncertainties with Partnerships, Sustainability and Cyber Resilience” at WeWork Collyer Quay in Singapore. The event aimed to provide a directional and forecasted view of the economic year ahead and discuss key trends in M&A, sustainability, and cyber resilience.
The event began with a welcome note and economic outlook for 2023 from Richard Wong, Senior Vice President, Global Head of Security Advisory at Frost & Sullivan. Wong discussed the increasing challenges faced by organizations in navigating the evolving landscape amid geopolitical and economic uncertainties.
Sanjay Singh, Senior Vice President, Global Head of Public Sector & Government and APAC Head of Business and Financial Services, then provided an overview of Singapore’s standing among peers and in the region based on Frost & Sullivan’s framework. Singh discussed recent M&A trends in the region, and highlighted the consideration of M&A, partnerships, and alliances as a path for both business growth and developing business resiliency for organizations.
Ravi Krishnaswamy, Senior Vice President Energy, Sustainability & Industrial Technologies, followed with a discussion of key trends that will enable sustainability resilience, including a focus on scope 3 emissions, socio-political measures to curb carbon emissions, new growth opportunities that leverage advanced technologies like AI & blockchain, and advent of carbon-negative solutions.
Kenny Yeo, Director and Head of Asia Pacific Cyber Security Practice, then discussed top digital trends for enterprises and the growing importance of cyber resilience. As enterprises transition from the COVID restrictions, many are adopting digital technologies more and more with a focus on meeting client and user needs. However, digital adoption also brings with it new digital risks. Yeo highlighted how enterprises should think about digital to achieve cyber resilience.
The event concluded with a panel discussion on the culture shift required to achieve cyber resilience in enterprises. Moderated by Kenny Yeo, the panel featured Wilson Tan, Senior Director of Consulting, Education and Professional Services at Singtel, and Jonas Walker, Director of Threat Intelligence at Fortinet. The discussion centered around the top three developments in digital and cyber resilience. Firstly, digital acceleration continues with cloud as a key enabler. Secondly, hybrid work is now a norm, leading to increased cyber attacks, cyber crime and cyber risk, as people work outside secured locations. Finally, regulatory environments are expected to tighten in the region in response to these trends.
ShuJie Tan, Country Head of Singapore, Frost & Sullivan, then gave the closing remarks and held a lucky draw for attendees. The event ended with a networking session.
Overall, the event provided valuable insights into key trends and considerations for business growth and resilience, particularly in the areas of M&A, sustainability, and cyber resilience. The panel discussion on culture shift and achieving cyber resilience in enterprises was particularly insightful, providing attendees with actionable takeaways on how to improve their cyber resilience efforts.
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