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Tech News

15-09-2017
Innovation and Technology Venture Fund

The Government has launched the Innovation and Technology Venture Fund on 15-09-2017. It is now open for application by venture capital funds to become co-investment partners (Deadline: 15-01-2018). A briefing session will be held on 03-10-2017 at the Hong Kong Science Park. Interested venture capital funds are welcome to attend.

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16-10-2018
Not enough Singapore jobseekers looking for technology roles

An analysis of technology jobs on its platform by Indeed revealed that not enough jobseekers in Singapore are looking for technology roles. Job postings in cybersecurity, data science, machine learning, and robotics were compared to job searches/jobseeker interest in the same areas over a two-year period to understand the magnitude of the problem.Cybersecurity roles most challenging to fillIndeed’s research showed that the gap between job postings and job searches was most stark for roles in cybersecurity. From July 2016 to July 2018, growth in job searches for cybersecurity was negligible, despite job postings growing by over 500%. Recent high-profile cybersecurity headlines in Singapore, as well as an overall push by the government has led to an increasing demand for cybersecurity talent.Interest in machine learning and data analytics struggling to keep up with demandThere is increasing interest in machine learning and data analytics jobs in Singapore with searches for machine learning related roles increasing by 139% over two years. Jobseeker interest in data analytics is also on the rise, though at a much slower pace (48% growth).However, during the two years analyzed, the number of job postings in these areas grew exponentially. The number of roles in machine learning grew by more than 300% while data analytics was the fastest growing of the four fields analyzed, recording a whopping 700% increase in job postings.Gap in robotics slowly closingAt only 30%, growth in robotics jobs postings was not as steep as other industries analyzed. That said, jobseeker interest in robotics recorded the highest growth (64%), showing that the talent gap in robotics is closing.“We analyzed data for cybersecurity, machine learning, data analytics and robotics  due to their massive potential to be a disruptor of business. The demand for talent in these areas is currently going unfulfilled as evidenced by the lack of interest from job-seekers. Businesses, educators, and governments should make every effort they can to encourage talent in these areas and grow a diverse technology talent pool so that Singapore can continue to progress as a technology leader in ASEAN,” said Andrew McGlinchey, senior director, Indeed Asia-Pacific. 

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16-10-2018
Adobe unveils major updates to Creative Cloud

Adobe on Monday announced major updates across its Creative Cloud family of applications and released a new video editing app designed to cater to social media creators.Creative Cloud updatesApplications that are updated include Photoshop CC, Lightroom CC, Illustrator CC, InDesign CC, Premiere Pro CC and Adobe XD. The latter adds new voice capabilities and integrates screen and voice prototyping within the same application. In addition, new workflows and integration apps were added to address the needs of the video animation industry, such as the addition of Animate to After Effects.Adobe dabbled in multi-surface creation with the preview of two mobile apps: Photoshop CC on iPad and Project Gemini. Photoshop CC has been redesigned for a modern touch experience and will now open and edit native PSD files, while the latter combines raster, vector and the ability to draw with dynamic brushes into a single app built for drawing.Adobe Premiere Rush CC, a new all-in-one video editing app was also introduced. Designed to help social media creators simplify video creation and sharing them on platforms such as YouTube and Instagram, it offers one-click auto-duck feature to adjust music and normalize sound. Creators can use it to create and publish video content using different devices, yet deliver a consistent user experience across desktop and mobile.“Today, we unveiled a portfolio of next-generation creative apps that deliver meaningful value to our community by transforming creative workflows across devices and platforms,” said Scott Belsky, the chief product officer and executive vice president of Creative Cloud at Adobe.“By continuing to innovate in our flagship apps, extending into exploding segments such as experience design and social video creation, and pioneering in emerging mediums like touch, voice, 3D and augmented reality, Adobe Creative Cloud has truly become the creativity platform for all.”Further reading:Adobe announces new AI-powered features for personalized customer experiencesAdobe: Why it pays to be an experience businessAdobe unveils analytics for offline and online audio Caption: Image credit: Adobe

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15-10-2018
Cerulli: Interests in alternative will intensify competition for assets

The Cerulli Associates report, Non-Traditional Strategies in Asia 2018: The Changing Product Landscape, noted that the investment product landscape in Asia is changing as traditional managers are broadening their capabilities not only in alternative investments, but also in emerging long-term thematic strategies and low-cost smart beta products. Each of these segments offers opportunities to managers to varying degrees, but they need to overcome the unique challenges of each of these asset classes.Asian institutional investors’ allocation to alternatives is expected to intensify with the uncertain outlook in public markets. An increasing number of institutional investors—led by sovereign wealth funds and public pension funds—are embracing private equity, either on their own or through co-investments or the fund route. Strong demand has pushed private equity valuations to high levels, leading to a rise in dry powder. Although the healthcare and technology sectors offer opportunities, finding the right deals takes time.“Given that private equity is relatively high risk and less transparent, investors prefer to partner with managers with good and long track records, making it challenging for novice fund managers to promote themselves in this highly competitive environment. Further, institutions often utilize co-investments as an avenue to achieve fee savings and gain understanding of the direct investments arena,” said Della Lin, a senior analyst with Cerulli.The need for yield is also pushing investors to explore sub-investment-grade tranches and mezzanine debt. In real estate, most Asia-Pacific investors are keen on commercial property, but some institutions are toying with other sectors, such as student housing and senior homes, which are not correlated to macroeconomic events. Infrastructure, which is under-represented in asset owners’ portfolios, is essentially for big managers due to the long gestation period of assets, and the risk of a few projects being delayed by political uncertainties.The expectation of fee pressures is also pushing some active managers to come up with approaches to differentiate themselves from passive giants; for example, by building smart beta products. Such funds are still in their infancy in Asia, but consistent outperformance and greater product variety could encourage wider adoption by investors.Cerulli believed that both traditional and non-traditional, and active and passive strategies will have complementary roles to play in investors’ portfolios to help them respond to changing market conditions, without replacing each other.“New products and alternative strategies will continue to develop further in Asia, as managers broaden their product offerings and fill the gaps. Managers lured by the high fees of non-traditional strategies should take into consideration the challenges of the game, as they compete against well-established alternative specialists, with even the large traditional managers positioning themselves as full-service providers. The same goes for passives, where the market is dominated by a few giants,” Cerulli associate director Leena Dagade added.Managers are also exploring thematic ideas, such as artificial intelligence (AI) and environmental, social, and governance (ESG) investing. However, the use of AI is very nascent in Asia, while ESG investing is hampered by the lack of clear definitions, the scarcity of data disclosures in Asian markets, perception of low returns, retail investors’ short-term investment horizons, and lack of awareness. Over the longer term, though, as asset owners increasingly prioritize ESG criteria in selecting managers, sustainable investing could become part and parcel of the investment process. Caption: Image from iStockPhoto/LeoWolfert

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15-10-2018
IDC says intelligent automation to reshape Indonesia financial market

At its annual Fintech Innovation Summit in Jakarta IDC Financial Insights revealed that the emergence of Intelligent Automation (IA) will be a key area of investment among leading Indonesian financial institutions to improve customer engagement.The analyst defines IA as the bringing together of cognitive-enabled channels, business process reengineering, robotics automation, and human-augmentation through artificial intelligence.IDC expects technology spending for the Indonesia financial services industry will have a compound annual growth rate (CAGR) of 12.5%, reaching IDR 23 trillion in 2022 from IDR 12 trillion in 2017."Intelligent Automation will put the customer at the center of financial services. More than ever, the needs, behavior, and intent of Indonesian customers will be used to design personal and meaningful customer engagement. Interactions will be supported by greater automation so that not only are they efficient but that they also become more real-time," said Michael Araneta, AVP for IDC Financial Insights Asia/Pacific.IDC Financial Insights also predicts a clearer correlation between investments into new tech and the institution’s success in customer engagement. "The market for customer relationship management will grow by 12.9% in the next 4 years reaching to IDR 234 billion by 2022,” said Handojo Triyanto, Senior Research Manager for IDC Financial Insights.“The double-digit CAGR that we are expecting for customer centricity is driven by emerging technologies that will see massive customer adoption in the next 2-3 years such as mobile payments, external APIs, connected core, lending as a service, corporate banking analytics, customer experience, and next-generation security. Financial institutions in Indonesia need to be bold in their approach to reconfigure existing technologies to support the customer centricity,” Triyanto continued.IDC noted that the focus on the customer centricity has been sidelined previously by other areas of concern such as risk management, fraud management, and regulatory compliance. The Indonesian financial market is set to make new investments in customer experience which will be personalized, real-time, and proactive. Caption: Image from iStockPhoto/Oleksii Spesyvtsev

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15-10-2018
Novarica says digital tops IT spending among insurers

Total spending levels and patterns are roughly consistent with prior years as insurers attempt to squeeze new digital, analytics, and security initiatives into essentially static budgets. Overall budget trends and spending patterns continue to hold in aggregate, but there are significant variations between companies. Small shifts away from core systems spending toward digital, data, and security are starting to be visible.Novarica’s 11th annual insurer IT budgets and projects report identifies three important findings:Historical norms govern budgets, with total IT spending at 3.7% of premium. OpEx/CapEx splits and IT staff ratios are all similar to those in previous years. Run/Grow/Transform spending breakdowns remain at roughly 55/25/20. Life insurers are focused on digital, property/casualty insurers on analytics and speed to market. Both sectors increasingly see talent and improving IT operations as key IT challenges. Core systems replacement volume is starting to wane. Projects are still common, but new replacement projects are down slightly from previous years as prior investments start to come online.The report concludes that business leaders are demanding additional capabilities in analytics, digital, and speed to market; IT organizations are responding with enhancements of existing systems and replacements of legacy.While replacement activity is still significant, it is ebbing somewhat, especially among property/casualty insurers as the investments of the past decade are going into production.Across the board, there seem to be the beginnings of a shift away from investing in core systems toward digital and data/analytics systems.This reflects previous core investments, as well as the increased importance of digital and data. But overall, spending levels remain essentially consistent, with some insurers spending slightly more, some holding steady, and a smaller number making cuts. Caption: Image from iStockPhoto/stevanovicigor

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15-10-2018
FinovateAsia returning to Hong Kong on October 29-30

The third annual FinovateAsia conference will be held at the Hong Kong Convention Centre on October 29-30 to kick off Hong Kong Fintech Week 2018

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15-10-2018
M800 reveals IoT strategy at GITEX Technology Week

Hong Kong's M800 is using GITEX Technology Week 2018 to showcase a soon-to-launch heart monitoring system that uses its communications platform

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15-10-2018
Australian encryption bill will weaken cyber security, warns Apple

Apple has argued that Australia's "dangerously ambiguous" surveillance bill will create a risk to cyber security

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15-10-2018
ICANN’s internet DNS security upgrade apparently goes smoothly

ICANN completed the DNS Root KSK rollover on October 11 to tighten security for the internet’s address book

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15-10-2018
CSA and industry partners launch Industry Call for Innovation

The Cyber Security Agency of Singapore (CSA) and partner, TNB Ventures, recently launched a Cybersecurity Industry Call for Innovation inviting industry providers to develop innovative solutions to address specific cybersecurity challenges. This is done in collaboration with five participating organisations - Ascendas-Singbridge Group, PacificLight Power, Singapore LNG Corporation (SLNG), SMRT Corporation (SMRT) and Singapore Press Holdings (SPH). The Call for Innovation consolidates and articulates the cybersecurity needs of these organisations into challenge statements that industry solution providers are invited to address through innovative solutions.There are two categories of challenge statements. The first category is “Advanced Protection and Detection” to help end-users avoid, defend against, and detect cyber-attacks. This includes intelligent solutions that are able to detect intrusions into Operational Technology (OT) systems. The second category is “Advanced Security Operations” to help end-users reduce their vulnerabilities through better management of their systems. This includes solutions to increase the efficiency of patch management processes and management of Internet-of-Things (IoT) and Cloud systems."The Call provides an excellent platform for us to share with innovators and solution providers the challenges facing our sector, and to work together to strengthen the country's capacity to address the growing cybersecurity threats,” said Chong Nai Min, Vice President (Information Technology), SLNG."This Call presents a unique opportunity for Ascendas-Singbridge Group to engage with a wide range of cybersecurity solution providers. It would certainly help us to gain access to, and be a sponsor of, innovation emerging from Singapore," said Alvin Tan, Chief Information Officer, Ascendas-Singbridge Group.The submission period for the Call closes on 18 December 2018. Solution providers whose proposals are shortlisted will be invited to discuss their proposals in greater depth with the participating organisations for potential co-innovation, adoption and test-bedding.Selected solutions that fulfil the eligibility criteria may also be awarded with POC funding of up to S$500,000 under CSA’s Co-innovation and Development Proof-of-Concept Scheme. More details on this scheme can be found here.Said Yu Tat Ming, CEO of PacificLight Energy Pte Ltd and PacificLight Power Pte Ltd.: “PacificLight is pleased to be working on this timely initiative with key stakeholders. To protect ourselves against increasing cyber threats, it is vital that industry, regulators, researchers and IT specialists work together to increase our collective knowledge and capabilities.""It is exciting to have this opportunity to be a part of the "Call for Innovation" and participate in the development of solutions that address our ever growing cybersecurity challenges," said Danny Low, VP Systems & Network, SPH.“Keeping our digital infrastructure safe from relentless and increasingly advanced cyber-attacks is a challenge that requires the joint effort of all stakeholders involved,” said Michael Yap, Managing Director, TNB Ventures. “Through this initiative, we aim to provide greater opportunities for innovative solutions to be supported and adopted more widely.”Teo Chin Hock, Deputy Chief Executive (Development), CSA said: “The cyber threat landscape is evolving rapidly. To build our cyber defences and at the same time grow the industry, innovation is important. We are glad to have our partners on-board our first Cybersecurity Industry Call for Innovation. We hope to help them strengthen their cyber resilience, and at the same time, provide opportunities for solution providers to catalyse cutting-edge solutions here for commercial adoption.”Interested solution providers can find more information on the Cybersecurity Industry Call for Innovation, the full Challenge Statements as well as submit their proposals here.

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15-10-2018
World’s slimmest encrypted data storage with cybersecurity-boosting smart card launched

ST Engineering’s electronics sector recently announced the launch of DigiSAFE DiskCrypt M10, the world’s thinnest and first ultra-slim two-factor authentication (2FA) encrypted data storage that can help enterprises and governments secure their information assets with enhanced cybersecurity capabilities. Comparable to the size of a credit card and 80% lighter than existing encryption storage devices in the market, the DigiSAFE DiskCrypt M10 is equipped with cyber defense features such as real-time hardware encryption and 2FA with smart card protection.In a bid to counter increasing cyber-attacks and data breaches, enterprises and governments are facing an urgency to step up their cyber defenses, including the implementation of secure information gateways with the use of cybersecurity solutions such as encryption and advanced persistent threat protection.“End users are often the weakest link in cybersecurity as increasingly sophisticated cyber threats are driven to exploit all areas of weaknesses. Building on our innovation and deep engineering expertise in cybersecurity, our robust cyber-secure products and solutions secure weaknesses at the end user point to help our customers strengthen their cyber preparedness and resilience,” said Goh Eng Choon, General Manager of Info-Security, Electronics, ST Engineering.With its ergonomic interface, the DiskCrypt M10’s storage capacity, ranging from 32GB to 512 GB, can be customized according to the needs of users. It is also designed to secure information on-the-go, without requiring any software installation, enhancing ease of use without compromising security.

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14-10-2018
Cisco names Herman Lam MD for Hong Kong and Macau

Cisco has appointed former Cyberport CEO Herman Lam as its new managing director for Hong Kong and Macau

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14-10-2018
Does China have the answer to closing the AI skills gap?

Huawei, Yitu Tech, and Mai Mai reveal their recruitment strategies for artificial intelligence talent

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14-10-2018
MOBI jumps into UEM with new desktop, IoT management tools

Mobile management provider MOBI has added desktops and IoT devices to the portfolio of enterprise devices it can manage

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14-10-2018
Facebook opens Workplace Chat to multi-company groups

Facebook's expanded Workplace chat function is designed to improve collaboration between workers at separate organizations

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CyberLink Vol.120 September 2018

Cyberport Venture Capital Forum (CVCF) to bring top investors' insights and foster match-making opportunties this Novmber

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CyberLink Vol.119 August 2018

 

Cyberport-grown Klook takes off to new unicorn status

 

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CyberLink Vol.118 July 2018

Digital Silk Road spotlighted at the Belt and Road Summit

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