TECHNOLOGY & INNOVATION ECONOMIC Amidst a dynamic economic environment, an organisation’s ability to leverage technology and innovation is key to its long-term success. Our continued commitment to investing in R&D and cultivating an innovative culture ensures that technology and innovation are at the core of our business. To achieve our aspiration of becoming a global technology, defence and engineering powerhouse: • We leverage our strengths across business areas while building distinct capabilities • We leverage external capabilities to accelerate innovation and keep up-to-date with new and disruptive technologies • We focus on developing technologies that will place us at the digital and sustainability forefront We improve lives and make the world more secure and sustainable through technology and innovation. Our ability to harness disruptive technology and direct our engineering expertise towards building innovative products and solutions allows new business growth and differentiates us from our competitors. OUR APPROACH We Recognise the Importance of R&D We believe in focused R&D investment that is in line with the strategy and product roadmaps defined for business growth. We continuously monitor the latest developments and global trends and refine our strategy as needed to keep abreast with these changes. Our R&D Efforts Are Driven and Coordinated Across our Businesses R&D investments are identified by each business area to complement its business strategy and product focus, to develop its technological leadership. Our Group Technology Office (GTO) identifies and develops strategic technology capabilities, with a strong focus on advanced technologies that can be tapped upon by the various business areas. These include technologies such as quantum, future communications, advanced materials and alternative energy. Our Group Engineering Centre (GEC) has six engineering competency centres, with a common pool of skilled engineers at the Group-level in AI, data analytics, video analytics, MRO analytics, cybersecurity and autonomous system of systems. We have been delivering solutions in these six areas through common software platforms with reusable modules. Once developed, reusable modules can be deployed across multiple business areas to increase development speed and quality. We Encourage and Facilitate Innovation Our innovation approach comprises driving synergies and deepening capabilities within the Group, as well as leveraging external capabilities to accelerate innovation. We are focused on developing solutions that place us at the forefront of technology. We Drive Synergies and Deepen Capability Building We focus on identifying synergies within our existing products and services, and enhancing our capabilities in key technological areas. Efforts include: 18 ST ENGINEERING | SUSTAINABILITY REPORT 2024
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