SINGAPORE: For La Belle Couture’s female clients, making one of the most important decisions for their big-day has become easier. Since January 2016, the bridal boutique has been experimenting with an augmented-reality ‘mirror’ to help its clients visualise how different styles of gowns would look on them, without having to actually try them on.
The boutique’s owner and managing director, Teo Peiru, said the ‘FX Mirror’ takes away the stress of trying on multiple gowns. She said some brides-to-be do not know what they want, or what would suit them, and they would previously try on between 20 and 30 gowns, which weigh anywhere between seven and 15 kilograms. The mirror makes the process “magical”.
“Just to put on a dress like that and take it down, it takes between 10 and 15 minutes. What if the gown is not what you like? Then you have to keep trying,” Ms Teo said.
With the mirror, clients now only need to try on an average of five dresses, before finding ‘the one’. Ms Teo said appointment sessions are shorter, and her staff is able to handle a larger volume of clients, especially during the peak wedding season. As a result, revenue increased by almost 20 per cent last year.
The adoption of such digital technologies among Small and Medium Enterprises (SMEs) is a key recommendation in the report released on Thursday (Feb 8) by the Committee on the Future Economy (CFE), which maps out a blueprint for Singapore’s economic development. Such technologies, it said, would help SMEs increase their productivity, manage business costs, create new revenue opportunities as well as allow them to scale up operations.
For them to better adopt technologies, the report recommended that the Government provide more dedicated support, and help defray initial investment costs in digital solutions implemented by SMEs. In Ms Teo’s case, 65 per cent of the costs associated with implementing the virtual mirror and a resource planning software to help make business processes more efficient were covered by the government’s Capability Development Grant.
The use of digital technologies such as this ‘virtual mirror’ has allowed bridal boutique La Belle Couture to increase its revenue by almost 20 per cent in one year. (Photo: Monica Kotwani)
DATA ANALYTICS AND CYBERSECURITY: EMERGING SECTORS
The CFE report also identified data analytics and cybersecurity as having great potential for growth, and encouraged the government to establish “the right infrastructure” in order to support their development.
It said the government can work with key industry players to develop solutions that serve the needs of the industry. The report said that data scientists can be trained to solve specific problems within the various industries, as one example.
The report also pointed out that National Service can can be used to develop niche skills in cybersecurity, “given its strategic importance to both national security and the economy”. It added Singapore should also attract technology firms with an expertise in specific areas of cybersecurity, and facilitate partnerships with such firms and users to create “best-in-class” solutions.
Finally, where emerging problems are identified, the report said public-private partnerships can be established to conduct research in these areas. “There can be more initiatives like the Cyber Risk Management (CyRim) Project, supported by MAS and the Cyber Security Agency of Singapore, which brings together potential market participants to investigate challenges and discover opportunities in nascent cyber-insurance marketplace,” the report said.
DATA AS AN ASSET
In its report, the Committee noted that data is becoming increasingly common as the world becomes more digitalised. Hence it suggested that data be recognised as an asset, similar to how human capital and property are treated.
But as it is still a new area of development, the Committee said a collaborative approach between the government and the industry will be useful to drive innovation in this area. Among its recommendations, the Committee said the government should establish a dedicated programme office. The office will be tasked to drive the use of data in the economy, and work with agencies leading the roll-out of the various Industry Transformation Maps to encourage the adoption of data assets.
The Committee also said the government can enhance its collection and supply of data, particularly those with economic value. It can also compile additional statistics using new sources of data. Finally it urged the government to share more data with the private sector, while being mindful of privacy and security concerns.
PHYSICAL CONNECTIVITY AND LANDSCAPES
Even as the focus remains on digital connectivity, the Committee stressed the need to invest in new physical connections, such as through strengthening the nation’s status as a global air and trans shipment hub, as well as making use of its cross-border links. Here, it cited examples such as the Changi Airport Terminal 5 project, and the recently-announced High-Speed Rail between Singapore and Kuala Lumpur.
It also said the Government should keep up with its bold plans for growing and rejuvenating the city, such as through expanding the use of underground spaces, making better use of scarce land, and creating an urban logistics system that optimises the use of land infrastructure.
The Committee report also mentioned enhancing Singapore’s lifestyle offerings to strengthen Singapore’s identity and distinctiveness. It recommended making Orchard Road an iconic street of the world and urged private sector partners to work with the Government to upgrade Orchard Road through “physical transformation an experiential programming”.
Where possible, the report said Singapore should make itself a “living lab” for innovative urban solutions, and that includes monitoring urban mobility trends and embracing them when they become technically and commercially viable.
