Amazon Web Services (AWS) has released a report indicating that Singapore’s micro, small, and medium-sized enterprises (MSMEs) embracing cloud technologies can unlock up to S$650 million in annual productivity gains and support 100,000 jobs in the healthcare and education sectors by 2030. The report, titled “Realising a Cloud-enabled Economy,” was commissioned by AWS and conducted by Accenture.
The report defines MSMEs as businesses with fewer than 250 employees and focuses on those addressing societal challenges. It uses the OECD’s definition of cloud adoption levels to forecast a cloud-enabled economy in 2030, where 90% of businesses adopt at least a basic level of cloud technology.
Currently, Singapore’s basic cloud adoption rate is at 64%, encompassing web-based email and cloud storage. However, the adoption of intermediate applications like customer relationship management and advanced applications such as artificial intelligence (AI) and machine learning (ML) tailored for complex tasks is expected to be lower. This presents a significant opportunity for businesses to advance cloud adoption.
The report covers 12 countries, including Singapore, using market sizing, surveys, and data from organizations like the OECD and the World Bank. It reveals that cloud-enabled MSMEs can benefit the economy and society by facilitating remote medical consultations and improving access to education, aligning with the United Nations’ Sustainable Development Goals (SDGs).
In the healthcare sector, cloud-enabled MSMEs can address limited healthcare access, unlocking S$290 million in annual productivity benefits and supporting six million telehealth consultations in Singapore by 2030.
In the education sector, these MSMEs can tackle accessibility and inclusivity challenges, unlocking S$360 million in annual productivity benefits and providing e-learning solutions to 200,000 students in Singapore by 2030. Additionally, about one million adults are expected to access education through cloud-enabled MSMEs in Singapore by 2030.
By FCCT Editorial Team
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