Manufacturing industries across the world are facing a trifecta of extreme challenges in the wake of economic and geopolitical turbulence: soaring inflation, shortages of labor and supply chain delays. Yet in the face of these hurdles, Singapore’s manufacturing sector is going from strength to strength.
In his op-ed to Nikkei, James Lambert, Director of Economic Consulting, Asia at Oxford Economics unrevealed the secret of Singapore’s success: robots.
“Singapore has taken a number of farsighted steps to establish itself as the host of the second-most robot-intensive manufacturing sector in the world, behind only South Korea. This has included cultivating world-class talent assiduously over the decades with initiatives such as sponsored research partnerships with well-funded local universities and subsidized worker training. ” “By taking a long-term perspective and embarking on a coherent plan, businesses and governments can exploit the benefits of robotics while helping vulnerable workers prepare for and adapt to the upheaval that automation can bring,” he commented.
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