ST Engineering Annual Report 2020

CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT domains of air, land and sea. Drawing from the expertise of our multidisciplinary teams and our in-depth technical know- how, we incorporate the latest technologies in analytics, machine learning, AI and biometrics into our suite of products and solutions to help security forces seize leading positions on the physical and digital battlefields. Internet of Things Continued demand for smart city solutions, fuelled by rapid urbanisation, enhanced connectivity infrastructure and growing digitalisation, are set to drive the growth of the IoT market in both devices and software. To support smart city adoption, we leverage new technologies to simplify complexities and streamline IoT deployment. Modular and scalable in design, our IoT solutions drive smart city planning and management and address the diverse needs of customers across different verticals. We operate in a competitive market with conditions that are constantly evolving. To grow globally competitive lines of business, we continue to leverage partnerships to scale and differentiate ourselves, focusing on developing best-in- class products that deliver high performance and reliability. Training and Simulation Advances in simulation and immersive technologies continue to shape the learning environments of the future. With cost-effectiveness and scalability as key benefits, organisations are increasingly adopting simulation solutions to achieve better training performance, and to support experimentation and collaborative R&D. The increase in operational tempos, combined with limited physical space and availability for training, has also prompted the need to employ innovative solutions that leverage AI tools, extended reality and advanced training analytics to provide a wider range of realistic scenarios that drive better end-user experiences and results. The COVID-19 pandemic has driven demand for virtual learning and simulated training solutions. Having deployed more than 100 training simulators worldwide, we are in a good position to tap on this growing demand to drive enhanced experiential learning and performance. Cybersecurity One outcome of the global pandemic has been increased remote working requirements, which have catalysed demand for secure connections and protection of critical information infrastructures. Additionally, cybersecurity incidents have intensified with increasing sophistication, expanding beyond IT networks. This has created an increased focus in Operational Technology (OT) that is at the core of essential services. To counter the evolving nature of cyber threats, governments and enterprises around the world are projected to ramp up their focus on protecting IT and OT infrastructure and data while continuing to build their indigenous cybersecurity capabilities and talent pool. This presents major opportunities for our cybersecurity and training business. With our track record in a range of cybersecurity solutions for government and commercial customers globally, we are well- positioned to leverage these growth opportunities to help our customers protect and secure their environments. Smart Digital Building Even as energy efficiency, productivity and sustainability continue to be priorities for cities and building owners, complying with pandemic resilience measures and space usage optimisation will be new critical considerations in the post-pandemic world. An increased emphasis on occupant wellness and contactless experiences will push businesses to embrace technologies that drive innovation and greater efficiencies in these areas. Technologies in IoT, AI, data analytics and cloud computing will continue to be key in making available real-time, actionable insights and enabling data-based decision-making to create a built environment that is more efficient, sustainable and safer. We continue to explore and incorporate new technologies into our suite of smart building solutions to improve the environment and positively impact the way people work, live and play. 49 ANNUAL REPORT 2 0 20 /