Technology and Digital: The Core Engine of Cross Economy

Cho Nam-jun, Distinguished Professor at Nanyang Technological University, Singapore (Director of NTU Industry Office and Centre for Cross Economy)

A Deep Dive into RIE2030 ⑦

When discussing the cross economy, I often encounter this reaction: "Isn't this ultimately about technology?" This is somewhat accurate. But it's also only half right. In the cross economy, technology and digital are not the purpose—they are the engine. The question is not what to create, but how transformation becomes possible.

As examined previously, for resources to be converted into assets, three conditions are required: measurement, accumulation, and transfer. None of these three functions without technology and digital infrastructure. Digital is the "enabling condition" for the cross economy, not the goal of growth itself.

First, there is the issue of measurement.

To become an asset, something must be comparable, and to be comparable, it must be measurable. ESG performance is a prime example. Intentions and declarations alone struggle to carry economic meaning. However, when measured through data, compared against uniform standards, and verified, they finally translate into the language of investment and finance. This is why RIE2030 emphasizes Digital ESG.

Second, there is the issue of accumulation.

Technology transforms one-time achievements into repeatable assets. Research results that end as reports are consumed and forgotten. But when accumulated as databases, platforms, and standards, their value grows over time. Digital is not technology that leaves behind results—it is technology that enables accumulation.

Third, there is the issue of transfer.

Assets expand only when they can be shared and moved. This is why technology transfer, standard dissemination, and platform connectivity matter. Without digital, assets remain isolated. Digital is the infrastructure that guarantees asset mobility.

RIE2030 does not treat technology as a tool for individual industries. Instead, it positions technology as the engine of asset transformation. The domains of manufacturing, health, and urban development are not fields for technology application—they are stages for testing whether transformation actually works.

In manufacturing, for example, digital does not stop at improving production efficiency. Process data becomes an asset, process standards become industrial competitiveness, and energy management data transforms into ESG performance. The same applies to health. What matters more than diagnostic technology is how data-driven management and prevention reduce fiscal burdens and create social assets.

At this point, an important misconception must be addressed. The cross economy is not a technology-centered economy. Technology is not at the center—transformation is. Technology is merely the means that enables transformation. Missing this distinction turns the cross economy into just another technology buzzword.

Singapore recognizes this clearly. That is why RIE2030 does not list specific technologies. Instead, it designs what transformations to create and what digital conditions are needed for those transformations.

This approach is highly strategic. Technology changes rapidly. But transformation structures endure. Making digital the engine while designing for engine replacement—this is the approach Singapore has chosen.

In the next installment, I will examine where this technology and digital infrastructure is actually applied. The cross economy is not abstract—it is implemented in very concrete forms across different domains. I will begin by examining what changes are starting in manufacturing.