Big increase in FTs coming in SG via Tech Pass

[syed putra]

Of course. They need m&d to deliver food and also cleaning their offices.

These will be mostly non pork tainted food products so its ok.mostly vegetarians.

 

[CPTMiller]

This is the crux of the issue is it not? Import the entire family here. Even the elderly parents.

This is nothing new.
Current various pass holders already can apply dependent pass for families coming here.

 

[millim6868]

Hope that job lost will be the 61% sinkies n those asking clowns to hv bto,

 

[zeddy]

You don't need to have an IQ of Einstein to know that most if not all of them are CECA Kelings.

 

[Hypocrite-The]

Theindependent

Unsplash image by @lucabravo
Author

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Singapore—In order to address the shortfall in tech talent in the country, local IT professionals are being aggressively poached by competing companies. This move in the backdrop of rising tensions between locals PMETs and the government’s foreign talent policy is a cause for concern here.

And while the number of foreign workers in Singapore decreased by 8.6 per cent last year, there has been a recent jump in foreigners working in the tech sector, who have been issued 90 work passes, since the Tech.Pass scheme was launched in January.
Singapore’s tech talent crunch was acknowledged some weeks ago by Mr Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), who called the shortage “severe.”

On May 4, Mr Menon underlined in a speech that the “competition for tech talent is economy-wide as more sectors embark on digitalisation” and added that there are not enough tech graduates to fill vacancies.

Because of the large demand and small supply of local tech workers, he added that “we have to continue to depend on foreigners to fill the growing vacancies for technology jobs over the next few years”.

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ST reported that some businesses have responded to the shortfall of tech talent through aggressive poaching tactics, which include highly attractive salary packages.

The report quotes the country manager for Singapore at recruitment company Robert Walters, Mr Monty Sujanani, as noting that the market is candidate-driven and that firms competing for top talent was “bound to happen.”

It also quotes a senior director of technology at recruitment agency Randstad Singapore, Mr Daljit Call, as saying that this type of poaching is often focused on top management or jobs that call for unique skill sets.

These job candidates being wooed by other companies may look forward to salary increase of 8 to 12 per cent, and sometimes even 20 or 30 per cent.

In another report, ST said that 90 Tech.Passes have been issued as of May 31, up from the 22 passes reported in March.

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The Tech.Pass, administered by the Economic Development Board (EDB), is valid for two years and allows established tech entrepreneurs, leaders, or technical experts from around the world to come to the country to perform frontier and disruptive innovations.

Tech.Pass holders are expected to have credentials in establishing tech firms and developing products that have been widely adopted.

The scheme was designed specifically to attract top foreign tech talent to come and work in Singapore.

Launched on Jan 19 of this year, the Government said it would allow for 500 Tech.Passes to be issued.

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Tech.Pass holders may also sponsor their spouses, children and parents on dependant’s or long-term visit passes.

There’ll be a ministerial statement on this topic in Parliament tomorrow. The Independent will be bringing updates on the jobs debate.

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[LITTLEREDDOT]

150 work passes approved for foreigners in tech sector since January launch of Tech.Pass scheme​

The Tech.Pass is valid for two years and pass holders can apply for a one-time renewal of two more years if they meet the renewal criteria.

PHOTO: ST FILE

Hariz Baharudin

NOV 7, 2021

SINGAPORE - Some 150 work passes for foreigners in the technology sector have been approved by the Government since the launch of the Tech.Pass scheme in mid-January.
This is a large jump from the 90 approvals announced in July, and the 22 approvals reported in March.
Hailing from 24 countries, the 150 people issued the Tech.Pass as at Sept 30 include entrepreneurs, experts and those with management experience in areas such as artificial intelligence, cyber security, edutech and fintech, said the Economic Development Board (EDB).
The EDB is administering the scheme. The Tech.Pass is valid for two years and pass holders can apply for a one-time renewal of two more years if they meet the renewal criteria.
Pass holders can start and operate a business, serve on the board of directors of a Singapore-based company or be a shareholder or investor in companies here. They can also take up lecturing roles in institutes of higher learning, serve as a mentor or adviser to companies here, and conduct corporate training.
The professionals targeted under this scheme must have a track record of either founding or leading sizeable tech companies and in the development of widely adopted tech products. The scheme is designed to attract foreign tech industry experts who are in short supply in Singapore.



The work pass scheme, which was announced about a year ago, has a total of 500 slots, but the Government has no deadline to fill them. Tech.Pass holders can also sponsor the stay of their spouse, children and parents here on either a dependant's pass or a long-term visit pass.
The Straits Times understands that most of the candidates have only just been able to enter Singapore, or are planning to do so, given that Covid-19 travel restrictions have only recently been eased. It will take some time before it can be known what roles they will take up.
EDB also gave an update of the Tech @ SG programme, which spells out more flexible requirements for foreign professionals applying for an employment pass to work here.
Since Tech @ SG was launched in January 2020, about 35 local and international tech companies in areas such as fintech, healthcare and mobility have been approved under the programme. This figure was 30 in July.
Under the Tech @ SG scheme, up to 10 employment passes for core team members of eligible companies will be granted if the applicants meet the Ministry of Manpower's (MOM) minimum qualifying salary of $4,500 a month and pass background and diligence checks.
Once approved, the employment pass obtained under the Tech @ SG programme is the same as any other employment pass issued by MOM.
The tech sector is poised to be a large engine of growth here, and a study by Singapore investment company Temasek, tech giant Google and consultancy Bain & Company that was published last November found that the country's Internet economy - or business conducted online - is on track to reach US$22 billion (S$29.7 billion) by 2025.

The world is currently in the midst of a major tech talent crunch and being able to attract and retain top tech talent ensures that Singapore remains competitive in an increasingly digital world, noted Mr Oswald Yeo, chief executive officer of online talent recruitment and career discovery platform Glints.
Mr Sachet Sethi, manager for tech and transformation as well as data and analytics at recruitment company Robert Walters, noted that while Tech.Pass will help fill senior roles in the industry, competition for tech talent is going to increase given how economies are opening and border restrictions are being lifted across the world.
Mr Daljit Sall, senior director for information technology at recruitment agency Randstad Singapore, said initiatives like Tech.Pass not only expand the tech workforce here, but also foster greater innovation and growth in the sector.
"As new emerging tech companies such as blockchain and crypto firms continue to set up offices in Singapore, we expect to see more applicants for the Tech.Pass scheme," he said.

 

[laksaboy]

Facebook is building the Metaverse.

Sinkieland is building the CECAverse.

 

[mojito]

Of course is talent surplus nation lah!

 

[mahjongking]

Hope that job lost will be the 61% sinkies n those asking clowns to hv bto,

alas, many sporean family breadwinner find out too late........when those shitskins infiltrate the HR and force out all the locals

 

[LITTLEREDDOT]

Singapore, India sign agreements to boost collaboration in technology and research​

The MOU and agreement were inked on the first day of the India-Singapore Technology Summit 2022. PHOTO: MINISTRY OF TRADE AND INDUSTRY

Dominic Low

Feb 23, 2022

SINGAPORE - Singapore, a regional trade hub, and tech powerhouse India will be deepening their cooperation in science, technology and innovation.
A memorandum of understanding inked between Singapore's Ministry of Trade and Industry (MTI) and India's Department of Science and Technology (DST) on Wednesday (Feb 23) will allow organisations in both countries more opportunities to collaborate in these areas.
Under the MOU, both countries will explore collaborative projects which could impact various sectors such as advanced engineering and manufacturing, energy, as well as other emerging technologies.
On Wednesday, DST and Enterprise Singapore also signed an agreement to facilitate opportunities for firms in both countries to partner in developing new innovative technologies and solutions.
Under the agreement, both organisations will launch requests for joint proposals on innovative projects by Singapore and Indian businesses, with funding provided for approved ones.
The MOU and agreement were inked on the first day of the India-Singapore Technology Summit 2022, which was jointly organised by the government of India, MTI, DST and the Confederation of Indian Industry.
The virtual two-day event features speakers from Singapore and India, and will cover topics such as space technology, smart cities and the use of clean tech for sustainable transportation.

At his speech during the event, Minister-in-charge of Trade Relations S. Iswaran noted that the bilateral trade in goods between both countries has increased by 35 per cent from $19.8 billion in 2020 to $26.8 billion last year.
"It is a sign that our economies are recovering from the Covid-19 crisis," he added.
Mr Iswaran also said international collaborations in technology and research are vital to building commercially viable solutions that can save lives and livelihoods, as the world faces the climate crisis, further disruptions to global supply chains and the spectre of future public health crises.
He suggested three areas in which both countries could collaborate.
The first is deep tech, which includes technologies such as artificial intelligence and the Internet of Things and involves the construction and built environment sector.
"This will lay the foundation for us to build smarter and more sustainable cities," said Mr Iswaran, who is also Transport Minister.
The two other areas are clean tech, involving renewable energy, as well as genome and bioinformatics research.
"The MOU and agreement that have just been signed will allow us to explore the three areas, and many others, for collaboration," said Mr Iswaran.
"They will encourage, develop, and facilitate collaborative projects in fields of mutual interest."

 

[LITTLEREDDOT]

Another wave of CECA "talent" coming: this time in AI and data science.

Fierce AI talent war shifts to India with salaries being doubled​

Companies in almost every field are staffing up on AI talent to avoid getting blindsided by shifts in their industries. PHOTO: REUTERS

May 4, 2023

NEW DELHI – Mr Aditya Chopra is not looking for a new job, but recruiters keep calling him anyway. The 36-year-old data-science specialist works in artificial intelligence, perhaps the most coveted experience on the planet after OpenAI demonstrated the breakthroughs of ChatGPT.
Mr Chopra, who works outside of New Delhi, sees friends in the field get pay hikes of 35 per cent to 50 per cent each time they switch jobs. “There’s a real shortage of data and AI talent,” he said.
An AI hiring frenzy is ricocheting around the world, from Silicon Valley to Europe, Asia and beyond.
While tech giants like Google and Baidu dangle top-notch packages for the engineers to build their own AI engines, companies in almost every other field – from healthcare and finance to entertainment – are staffing up too, to avoid getting blindsided by shifts in their industries.
India, perhaps more than any other country, illustrates how the rush for talent is outstripping supply. The country of 1.4 billion people has long been the back office for the tech industry, a source of reinforcements for any emergency.
But now even the world’s most populous nation is running out of the data scientists, machine-learning specialists and skilled engineers that companies are looking for.
There is an “insatiable need for talent”, said Mr Rahul Shah, co-founder of WalkWater Talent Advisors, a headhunter for top-level workers. “AI can’t be outsourced, it’s core to the organisation.”

Recruitment stories verge on the absurd. In one search Mr Shah’s firm just handled, the new employer more than doubled a candidate’s pay. Mr Freedom Dumlao, chief technology officer of Flexcar, interviewed one engineer who said a rival suitor had offered him a BMW motorcycle as a sign-on bonus.
“That’s a line I’m not comfortable approaching,” Mr Dumlao said.
India’s tech industry is built on a plentiful supply of affordable workers. Companies like Tata Consultancy Services invented the model for modern outsourcing, in which Western companies tap engineers halfway around the world to handle support, services and software, typically at a fraction of the cost of local workers.

There are now more than five million people employed in tech services in India, according to the trade group Nasscom.
Powerhouses like Google, Microsoft Corp and Amazon.com set up their own operations in India, hiring locals by the thousands. Google, now part of Alphabet, started with five employees in the country in 2004 and now employs nearly 10,000.
But this seemingly endless supply of labour is running short in critical fields. There are about 416,000 people working in AI and data science in the country – and demand for another 213,000, according to Nasscom’s estimates.

“The proportion of unfilled job roles is approximately 51 per cent of the current installed talent base,” it said in a February report, flagging the crunch as a risk to growth.
It is likely to get worse. India added 66 tech innovation centres, so-called global capability centres (GCC) or captives, last year taking the total to nearly 1,600.
These GCCs that used to handle tasks like IT support and customer support have morphed into in-house centres for business-critical technology – like AI.
In the first three months of 2023, asset manager AllianceBernstein Holding, car rental company Avis Budget Group, entertainment conglomerate Warner Bros Discovery and aircraft engine maker Pratt & Whitney set up research and development hubs in Bangalore, joining the likes of Goldman Sachs Group and Walmart.
“ChatGPT has driven the larger domain of artificial intelligence out of stealth mode,” said Mr Vikram Ahuja, co-founder of ANSR Consulting, which helps design and establish technology centres for corporations.
Last year, Dallas-headquartered ANSR set up 18 such captives in India; Mr Ahuja expects that number to hit 25 this year. “Many enterprises which have India captives are accelerating their AI road map to derive a competitive edge.”
Companies large and small are trying to figure out how AI will affect their fates. Can ChatGPT predict future demand with newfound accuracy? Will deep learning technologies prove better at medical diagnosis than any doctor today? Could trading algorithms be fine-tuned to the point finance companies with the best technologies will drive their rivals out of business?
“The talent crunch is going to worsen in the next year or two,” said Mr Biswajeet Mahapatra, principal analyst at Forrester Research Inc.
India has the second-largest pool of highly skilled AI, machine learning and big data talent, according to the February report by Nasscom, after the United States. It produces 16 per cent of the world’s AI talent pool, placing it among the top three talent markets with the US and China.
Mr Dumlao of Flexcar, a Boston-based car subscription startup, says that is not enough. He has been hunkering down in Bangalore for the past three months trying to assemble a team of data engineers and computer-vision specialists for the start-up’s data science hub in the city.
Flexcar’s team of 60 engineers helps build AI applications to automatically detect damage when vehicles are returned. The start-up has embraced ChatGPT and is piloting a chatbot to help technicians diagnose and fix vehicles by querying trained bots.
“Bangalore has incredible data engineering talent and the AI talent hunt is only going to intensify,” said Mr Dumlao. The tricky thing is to persuade prized engineers that his start-up is their most attractive option. “The freshest ideas and the newest innovations will sprout wherever there’s a concentration of talent,” he said.
Mr Dumlao’s competitors come in all shapes and sizes. Chilean retailer Falabella SA is the first Latin American company to open a captive in India for data analytics, AI and machine learning. “We have to compete with the best of the best,” said Mr Ashish Grover, its Santiago-based chief information officer.

The efforts are paying off: a personalised customer platform now accounts for over half the incremental sales from digital targeting. An AI-fuelled recommendation engine has driven three times more conversions on its mobile app.
Home improvement retailer Lowe’s Cos’ captive tech centre in Bangalore helps embed AI into its products, and all its technology will be built “AI first,” said Mr Ankur Mittal, managing director of Lowe’s India. For instance, the team’s predictive algorithms help decide pricing, and fine-tune search features on Lowes.com.
The Bangalore hub’s AI-powered computer vision uses videos and imagery from store cameras to help address shoplifting and analyse store footfalls.
This being India, many workers are trying to retrain themselves to land a coveted job in AI. Data engineer Deepak Kapoor, who works for a start-up called Thinkbumblebee Analytics, is studying up on computer vision and large language models to move into deep learning, where job opportunities are plentiful. He thinks he could easily double his salary in a city like Bangalore.
Mr Mahapatra, Forrester’s adviser to global chief information officers, anticipates years of rising demand for skilled workers. India is certain to benefit from the rush to high employees who understand this new world.
“We haven’t even touched the tip of the AI iceberg,” he says. BLOOMBERG

 

[eatshitndie]

ai means additional indians (required).

 

[Pinkieslut]

Many no talent Sinkies balls shrinking