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The Vietnam Petroleum Institute (VPI), under the Vietnam Oil and Gas Group (PetroVietnam), has built an Oilgas AI ecosystem using artificial intelligence (AI) and machine learning (ML). The system collects and analyses in-depth data in the oil and gas sector, with products such as crude oil, petroleum, liquefied petroleum gas, and natural gas.

VPI is partnering with an industry giant and taking measures to optimise the analysis, use, and management of data, helping firms improve work efficiency. For each product, Oilgas AI performs an analysis of market data, price forecasting, supply and demand, infrastructure, and inventory. It also helps users easily find, tap, and interact with vivid data through charts, reports, and dashboards. The data will be constantly updated, making it easier for users to monitor real-time data.

Petroleum suppliers, importers, and sellers can monitor the retail petrol price forecast through petroleum products at the Oilgas AI ecosystem. Its petrol price forecast model uses ML algorithms to model input data sources. It continuously updates new factors to provide the most accurate prediction of provisions and expenditures using the Petroleum Price Stabilisation Fund. It also inputs base prices of domestic and imported petroleum products.

According to an official, Oilgas AI targets becoming a network of experts, scientists, organisations, businesses, and consumers at home and abroad on the back of using the latest technological advances. This ecosystem creates a competitive advantage through the optimisation of analysis, mining, and use of data safely and conveniently. It also employs the application and use of models and algorithms that have been developed by VPI experts and other leading specialists in the oil and gas sector who are cooperating with VPI. Energy market products and services will provide solutions to help businesses make faster and more effective decisions in daily production and business activities, as well as devise long-term plans and strategies.

VPI has also started a free data mining service for users to experience the trial version of the Oilgas AI ecosystem. Following the trial period, VPI will provide optional service packages to meet the diverse needs of customers.

The organisation is also deploying AI/ML to identify the presence of fractured granite basements. The technology has an accuracy rate of over 80% and helps save exploration time and costs. VPI worked out a fracture prediction solution that applies AL/ML to accurately detect the presence of fracture systems based on real-time data. Relevant data will be used as inputs into ML algorithms, and then models will be classified, ranked, and assessed to find out the best for fracture prediction. The VPI has tested the accuracy of this prediction model on drilling data of 12 wells in some fields with similar geological structures, showing a prediction accuracy rate of more than 80%.

As OpenGov Asia reported, the results from the ML operations (MLOps) platform are expected to help improve drilling effectiveness, ensure safety for the process, and shorten the rig rental duration. Depending on each contractor’s drilling plan, the saved expenses can reach hundreds of thousands of US dollars.

The Department of Defense’s annual supply chain report focuses on tackling difficulties in high-priority, mission-critical sectors, such as microelectronics, a key element in practically all advanced military weapons.

“The need to onshore semiconductor manufacturing, as well as bolster research and workforce development in this critical supply chain sector, is now,” says Dr Christine Michienzi, Chief Technology Officer for Industrial Base Policy.

She added that the U.S. cannot continue to rely on foreign sources for a capacity that is essential to the maintenance of current Department of Defense equipment and the development of new technologies that are vital to national and economic security.

The US$54.2 billion CHIPS and Science Act, signed last month, represents a national agreement on the need to resuscitate domestic capabilities for microelectronics and a milestone in the Department’s strategic plan to address supply chain vulnerabilities in the defence industrial base (DIB).

Almost every DOD system and component of vital infrastructure rely on microelectronics technology. The same holds true for the commercial sector, where microelectronics are present in virtually everything Americans use on a daily basis.

In collaboration with sector leaders, the Office of the Undersecretary of Defense for Acquisition (OUSD-A&S) proactively examines and analyses the risk and general health of the microelectronics industrial base. Microelectronics Vision, a joint initiative between OUSD(A&S) and the Office of the Undersecretary of Defense for Research and Engineering, was published in May 2022.

With this, the Secretary of Defense Lloyd J. Austin III has committed to continuing investments that enable overmatch, boost operational availability, and support the combat readiness of the warfighter in pursuit of gaining and sustaining guaranteed, long-term access to measurably secure microelectronics.

The Department will continue to invest in programmes to protect U.S. microelectronics interests, reverse the erosion of domestic innovation and supply, and provide the groundwork for the next generation of microelectronics technology for DOD applications, while simultaneously preserving present systems.

To that aim, relocating a large component of the microelectronics ecosystem will necessitate a collaborative effort on the part of both the public and commercial sectors. Domestic semiconductor businesses must continue to make big expenditures to grow manufacturing capacity in the private sector. The CHIPS Act would improve capacity in both state-of-the-art (SOTA) and state-of-the-practice (SOTP) microelectronic technologies in the public sector.

The mission of the Department in terms of acquisition and sustainment directly benefits from the State-of-the-practice. Future systems and technologies, such as artificial intelligence, the Internet of Things, and 5G communications, will benefit from secure access to these technologies and be used for both DOD and commercial purposes. This is important for maintaining numerous DOD systems.

Using financing from the Defense Production Act Title III and Industrial Base Analysis and Sustainment, the Department is also directly investing in DOD-specific microelectronics technologies. These include modern advancements like the Strategically Radiation Hardened chips required for nuclear defence systems.

For the United States and its allies, the shift of microelectronics production to the Asia-Pacific area and the ensuing reduction in American manufacturing pose serious economic and security risks.

Significant industry outreach with members of the microelectronics industrial base is a goal as Industrial Base Policy pursues a whole-of-government approach to manage, and ultimately eliminate, these hazards. This includes a discussion of technology roadmaps and how DOD might aid and profit from future expansion plans.

The Monetary Authority of Singapore (MAS) and Asia’s most trusted securities group collaborated to launch ESGenome, a digital disclosure portal for companies to report Environmental, Social and Governance (ESG) data in a structured and efficient way, and for investors to access such data in a consistent and comparable format.

Under Project Greenprint, the MAS and securities group are working together on ESGenome to make a common disclosure tool that will make it easier for listed companies to report on their sustainability.

“High-quality sustainability data is critical for better decision making by corporates and financial institutions as they look to deliver against the UN SDG 2030 goals and their net zero transition pathways,” says Dr Darian McBain, Chief Sustainability Officer, MAS. He also said that technology is an important way to make sure that this data is reported quickly, correctly, and efficiently in a world where the disclosure landscape is changing rapidly.

Since corporate sustainability disclosures are one of the biggest sources of ESG data in the world, there is a lot of room to use technology to improve and make it easier to compare data to help make the financing decisions needed for a credible transition.

Currently, the proliferation of numerous sustainability reporting standards and rules across jurisdictions, as well as the varied way data is collected, examined, and published, have resulted in substantial disclosure issues and poor ESG data comparability.

On the other hand, a sustainability reporting fintech company will operate ESGenome, a Software-as-a-Service (SaaS) service. It simplifies the disclosure process for listed firms by providing a basic set of measures that are mapped across worldwide standards and frameworks:

ESGenome gives investors and financial institutions access to relevant and comparable ESG data, enabling meaningful benchmarking against peers and tracking of sustainability commitments. This enables more effective capital mobilisation for sustainable firms and projects.

As part of its ongoing work on Project Greenprint, MAS will also use the lessons learned from ESGenome to address the reporting needs of a broader universe of corporations, including small and medium-sized businesses, supply chain partners, and suppliers.

Meanwhile, the Land Transport Authority (LTA) organised the Land Transport Industry Day for the third time, bringing together industry leaders to share insights and best practices. Multiple announcements were made on the electric vehicle (EV) ecosystem and advancement in the land transportation industry.

LTA also presented new skill training courses as part of a bigger effort to build a pipeline of qualified personnel capable of working on the safety and maintenance of electric vehicles.

The LTA developed this with the help of Workforce Singapore (WSG) and the Ministry of Manpower to better understand the influence of technical and sociological trends on the future demands and capabilities of the land transport workforce.

It gives high-level advice on how to train and improve the skills of local workers so that they can be used by different industries and technology partners.

Developing Hong Kong into an international innovation and technology (I&T) hub will result in a massive demand for R&D talents. To become a part of this new generation of I&T talents, young people must equip themselves with academic qualifications and professional recognitions, as well as accumulate work experience to meet the job requirements in research and development (R&D).

Thus, to provide workplace learning opportunities for more young people who are eager to develop their future careers in the technology sector, the Hong Kong Applied Science and Technology Research Institute (ASTRI) signed an MoU with Vocational Training Council (VTC).

Under this MoU, they will jointly design brand-new professional diploma programmes in Microelectronics and Communications Technologies, aimed at nurturing a pool of talents that are aligned with industry needs in response to the huge surge of demand for tech-ready talents brought by the development of smart products, Internet of Things (IoT), and big data.

In addition, ASTRI will join the VTC Earn & Learn scheme as an employer. The scheme spans four semesters for students taking Higher Diploma programmes from the Hong Kong Institute of Vocational Education (IVE), a member institution of VTC.

Over the new academic year, participating students will receive on-the-job training under the guidance of ASTRI’s experienced R&D staff, obtaining both practical experience in the industry as well as classroom learning provided by the school. This will help young people enhance their capabilities in research and development in terms of work experience and academic knowledge through the scheme, which also allows them to realise their potential.

This collaboration was developed with the hope of bringing more young people to the I&T sector in Hong Kong and nurturing a new generation of professional R&D talents to expand the local I&T talent pool, provide the research and commercial sector with greater momentum, and keep enhancing the competitiveness of Hong Kong.

As the new academic year begins, the first batch of VTC students will be joining ASTRI’s four Technology Divisions, including Trust and AI Technologies, Communications Technologies, IoT Sensing and AI Technologies, and Integrated Circuits and Systems.

With ASTRI’s strong atmosphere in research and development, students will learn about I&T development in Hong Kong through hands-on experience, which would deepen their understanding of R&D work, helping them to make a good preparation for future studies or careers.

Participants will receive a basic monthly salary of not less than HK$9,000 and an average of HK$2,500 government allowance. The total monthly income will be above HK$10,000. Participants will also receive an additional subsidy of HK$30,800 upon completion of the programme.

The Chairman of ASTRI stated that the collaboration sets a new milestone for ASTRI in training the new generation of R&D talents. Young people are an important driver for innovation and it is hoped that they would enrich the organisation’s creativity, learn all that they can and contribute to supporting Hong Kong in becoming an international I&T hub.

The ASTRI Chief Executive Officer emphasised the importance of continual cultivation of talents and said ASTRI is joining VTC’s training and support scheme for the first time, aimed at encouraging trainees with a passion to get to know about their strengths and realise their potential. Upon graduation, they could either choose to become professional staff members or to further study. The scheme is good for both trainees themselves and the industry.

The VTC Chairman stated that the Council offers quality vocational and professional education and training (VPET) to help young people and in-service practitioners acquire industry-relevant knowledge and applied skills for professional development.

To meet the demand for tech-savvy talents, the VTC has incorporated I&T elements into the curriculum, enhanced teaching and learning facilities, and more importantly, provided students with workplace learning opportunities to build a talent pool conversant with applied skills. The MoU with ASTRI leverages the strengths of both sides and works together to nurture I&T talents.

The VTC Executive Director thanked ASTRI for supporting the VTC Earn & Learn Scheme, providing IVE Higher Diploma students with the chance to receive on-the-job training and learn cutting-edge applied technologies at ASTRI under the coaching of scientific research experts while learning tech-related knowledge at VTC.

The An Thoi market in the Binh Thuy, a district in Can Tho city, has debuted a cashless model market. As many as 150 small traders are operating in the An Thoi market, with about 30% of those having registered for non-cash payment methods.

The cashless market model allows traders and shoppers to pay for goods by QR code payment or quick money transfer via phone accounts on the Vietnam Post and Telecommunications Group (VNPT) Money app. The Director of the Municipal Department of Industry and Trade, Ha Vu Son, has stated that the move is part of an inevitable trend that brings many benefits to users.

VNPT Can Tho has accompanied the department in its digital transformation efforts, including promoting digital payment services. The Director said he hopes that VNPT will continue to deploy non-cash payment services at markets, supermarkets, shopping centres, and convenience stores across the city.

He asked VNPT Can Tho to manage security-related issues as well as oversee necessary technical conditions for the smooth operation of the service. According to the Vice Director of VNPT Can Tho, Nguyen Quoc Viet, his firm has coordinated with the local authority, and management boards of local markets to pilot a model of this kind.

After a month of piloting, there are nearly 200 points accepting VNPT Money payments and nearly 1,000 users of the VNPT Money wallet for payment. VNPT Can Tho has so far developed 38 points providing deposit and withdrawal services across districts in the city.

Increasing the adoption of digital payments is an important step in the development of smart cities, which the government wants to support through its digital transformation strategy. In April, traders at wet markets in the central city of Da Nang went cashless using the e-wallet mobile application Viettel Money, under a 4.0 wet market model. As OpenGov Asia reported, the model was launched by the municipal Department of Industry and Trade and the Da Nang branch of military-run telecom group Viettel. Owners of over 1,000 stalls at Da Nang’s three major wet markets, namely Con, Han, and Dong Da, were provided with QR codes that enable users to make online payments through access to 37 banks and Viettel Money.

Earlier this year, the Ministry of Information and Communications released a statement outlining the government’s plan to boost cashless payments (2021-2025). Firstly, it aims to make non-cash payments a norm in urban areas and expand their coverage in rural areas. Secondly, it seeks to develop a safe and secure non-cash payment infrastructure with various conveniences and facilities to meet the rising demand of firms and individuals. Thirdly, it strives to enhance the security and transparency of cashless payments, allowing authorities to better monitor economic transactions in the country. Finally, the project aims to realise growth targets set for non-cash payments in the short term, including 50% of transactions on e-commerce platforms being conducted through cashless payments and economic transactions via smartphones growing at 50%-80% per year.

Nanyang Technological University (NTU), the Agency for Science, Technology and Research (A*Star), and the National Healthcare Group (NHG) have collaborated to develop co11ab Novena, a new biomedical technology (biomedtech) incubator that will focus on biotech, Medtech, and digital health.

“Interest in BioMedtech has been on the rise due to demand for innovative and affordable healthcare solutions on the back of rising healthcare costs and ageing populations. But due to technical, market, regulatory, and certification challenges, the lab-to-market for BioMedtech start-ups are often long and arduous,” says Professor Joseph Sung, NTU Senior Vice President (Health & Life Sciences) and LKCMedicine Dean.

He noted that the partnerships between co11ab-incubated start-ups, the medical and industrial experience of NTU LKCMedicine faculty, and partners were recently formalised to overcome these obstacles. The result is an advanced ecosystem that promotes research and innovation and fosters the next generation of BioMedtech entrepreneurs.

co11ab is the first of its kind to be integrated into Health City Novena, a community of healthcare, medical education, and translational research. The S$15 million incubators, housed in NTU Singapore’s Lee Kong Chian School of Medicine (LKCMedicine), seek to be a national innovation and translational centre that brings together research, clinical, and venture creation activities, fostering knowledge sharing, innovation, and collaboration.

The co11ab will be completely operational in the first quarter of 2023. It will encourage new BioMedtech start-ups by giving entrepreneurs access to industry experience, mentorship, and finance to help them turn their ideas and concepts into products. The start-ups will also be guided in developing feasible growth strategies for international expansion.

Platforms like co11ab are critical for bringing together the combined talents and capacities of the research ecosystem in support of R&D translation, spinoff creations, and incubations to deliver health solutions to the clinic and market.

In addition, research needs to be transferred into the clinic to make a difference to patients. Authorities will require companies that can create new pharmaceuticals and equipment, as well as deliver new clinical services, for this to happen. This is where co11ab steps in to help bridge the gap between good research and profitable businesses.

The launch is marked by new cooperation between co11ab and the Singapore Medtech Consortium (SMC) to give start-ups at co11ab equipment and knowledge to speed product development that a start-up may not have in-house. SMC is comprised of 72 Singapore-based manufacturers, distributors, and venture capitalists who assist Medtech startups with early-stage product development.

Through this partnership, SMC will co-manage the engineering maker space at co11ab, providing prototyping equipment such as 3D printers as well as mentorship and consulting services in the areas of MedTech product development, innovation, and entrepreneurship. Additional facilities at co11ab include a life science laboratory with state-of-the-art equipment and facilities, office space, and a community area that fosters debate and collaboration.

By being positioned in the heart of the Novena healthcare district, co11ab-incubated startups may be able to use the knowledge of NTU LKCMedicine scientists and NHG doctors who are experts in the following major research areas of skin and chronic wounds; ageing/rehabilitation; mental health; infectious diseases; metabolic health/vascular diseases; and regenerative medicine.

co11ab will also collaborate with partners on programmes and activities that promote an innovative, collaborative, and entrepreneurial culture. Examples include innovation programmes such as makeathons, which offer NTU Singapore, A*STAR, and NHG employees the chance to prototype their inventive ideas.

Over the past decade, the Indian government has launched several initiatives to promote the digitalisation of agriculture, a sector that nearly 70% of the population depends on. In 2012, the Agriculture Ministry set up an organisation as an attached office of the Department of Agriculture and Farmers Welfare (DA&FW). It was called the Mahalanobis National Crop Forecast Centre (MNCFC) and set out to enhance satellite remote sensing and GIS technologies in crop estimation.

According to a press release, considering the recent advancements in geospatial technology, DA&FW has recognised the need to scale up the technology solutions in agriculture decision support. In this direction, the first meeting of the technical advisory committee to strengthen and transform MNCFC into a centre of excellence for geospatial technology applications was recently held in New Delhi.

At the event, Manoj Ahuja, the DA&FW Secretary, highlighted the need to scale up the utilisation of satellites, drones, smartphones, and artificial intelligence/machine learning (AI/ML) techniques. These scientific IT products and services will empower stakeholders across the agriculture sector to make informed decisions. An official also urged the MNCFC to take part in global initiatives on crop surveillance.

After deliberations, major recommendations of the committee included:

The committee also discussed developing a national framework at MNCFC for all scalable technology solutions to standardise the methodologies, enabling them to become more widely used in decision-making processes. The major themes for developing national initiatives are crop surveillance and estimations, disaster risk reduction in agriculture, farmer-centric services (weather, pest/disease surveillance advisory, nutrient management advisory, and agro-forestry decision support), and environment and energy.

An official at the meeting noted that satellite-based assessments be extended to the horticulture sector by pooling the data and expertise currently available in the existing projects and schemes by the Ministry and Indian Council for Agriculture Research (ICAR).

With the support of technology agencies like the Indian Space Research Organisation (ISRO), officials believe that MNCFC will be fully equipped to reap all the possible benefits of digital technologies in a holistic manner in the agriculture sector.

Earlier this year, in a bid to increase crop yield and quality, the Energy and Resources Institute (TERI) developed a sensor-based irrigation system for farmers in Goa. The system can be controlled through a mobile application or the web. The sensors can start and stop water motors depending on the moisture value of the soil. This process prevents water erosion and maintains the soil quality throughout the field.

As OpenGov Asia reported, the system is powered by renewable energy resources (solar-powered pumps) to provide clean water to farmers in off-the-grid areas. The technology has saved time, especially for daily wage farmers giving them freedom and flexibility to sell their harvest in the market. Using riverbank filtration (RBF) technology, the system provides clean water for irrigation.

The Western Australian Government has launched Dealroom WA, a new data-driven public dashboard to develop the State’s early-stage innovation ecosystem. The region’s Innovation and ICT Minister announced the platform at the recent Perth Morning Startup event held at Spacecubed’s headquarters in the city, with the announcement being welcomed by a large group of local start-ups.

Dealroom WA displays the latest information on start-ups, innovators, high-growth companies, scale-ups, corporates, funding rounds, and investments from across Western Australia. The platform provides real-time and historic information on the size and activity within WA’s early-stage innovation ecosystem, including support systems such as accelerator programs, co-working spaces, universities, grants, and assistance.

The data presented across the platform is consolidated through publicly available information, manual research, and verification with the start-ups themselves and through ecosystem partnerships.

Founded in Amsterdam in 2013, the Dealroom platform services a global network of governments, tech ecosystems and jurisdictions. The platform tracks information from more than 500,000 start-ups globally, and last year collected data on US$700 billion worth of funding deals. Subscription to the Dealroom platform has been made possible with funding from the AU$16.7 million New Industries Fund.

The Innovation and ICT Minister stated that the government is committed to supporting local start-ups and innovators, and today’s launch of Dealroom WA provides the sector with an insightful tool for making better-informed decisions. The innovative, data-driven platform will be the first time the entire innovation ecosystem has been mapped for public view in Western Australia.

Through the platform, the scale and expertise present across the State’s innovation sector can be highlighted and supported. In turn supporting local start-ups to engage investors, service providers and policymakers. With Government support for these local innovators, through initiatives like Dealroom WA, the diversification of the economy and creation of the jobs of the future for Western Australians can be driven.

Recent research found that the global smart government market was valued at US$21.9 billion in 2021, and is projected to reach US$124.7 billion by 2031, growing at a CAGR of 19.4% from 2022 to 2031.

Smart government often consists of the use of intelligently networked information and communication (ICT) technology to manage business activities related to government and administration. It comprises e-government and open-government initiatives as well as big data and open-data initiatives and includes long-term government and administrative activity in the age of the internet of things and the internet of services; based on the internet of systems, the internet of people, and the internet of data.

The growing adoption of technical innovations, rise in government investments in smart government technology, and the high acceptance rate of cloud-based solutions are the factors that drive the growth of the smart government market.

In addition, increase in penetration of smartphones coupled with fast internet connectivity, an upsurge in preference among consumers for smart governments, and widespread adoption of e-government features in developing countries accelerate the smart government market growth.

The COVID-19 pandemic had a positive impact on the smart government industry, owing to an increase in usage and adoption of online and digitalised public sector operations among consumers and government authorities globally. Currently, smart governments are experiencing massive growth as consumers are growing familiar with the digital technologies in the market.

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