Singapore's workforce is grappling with the twin challenges of an aging population and job displacements due to technology.that studied the burden of disease in Singapore between 1990 and 2017, Singapore surpassed Japan in 2017 to become the country with the longest life expectancy at birth — at nearly 85 years old.
The Southeast Asian country is in the midst of "reforming the education system for the young," Ong told CNBC's "Squawk Box Asia" on Tuesday. He pointed out, however, that the challenge was really in helping older workers, as younger employees are "very adaptive." While not discounting the importance of understanding artificial intelligence and robotics, Ong stressed the need to "learn your current job well" and master the skills of your trade.
He noted the success of one such company in Singapore — DBS Bank, which managed to help workers' transition between roles within the company.
It could be a tough one.
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