"Asia can stand head and hand with Europe and the US in driving innovation," Lim said during a 'lohei' lunch celebrating Chinese new year in Singapore. "It is no longer about driving costs down, but 'how do I accelerate innovation.'"
Lim further said that the opportunities for innovation and competitive differentiation lie in four areas: enhancing the user experience; working on convenience, speed and security of data access; introducing or leveraging on technologies that accelerate business, and beefing up IT skills.
"Reducing costs have gone to the back burner," Lim explained. "Technology to accelerate business is going to be a key differentiator."
Lim added that IT skills will be the common denominator in the age of innovation. "Digital literacy is going to be big," he predicted.
