Speeding ahead with smart public transport technology is Singapore, ranked the second city in the world for public transportation in a June 2018 report by consulting company McKinsey & Company. Commuters here could soon pass through fare gates at a Mass Rapid Train station without having to stop to tap their fare card.
A Singapore company that is an info-communications technology solutions provider, has developed a facial recognition system that identifies and charges commuters through a post-paid method accordingly. Once the technology is rolled out, interested commuters will be able to sign up for an account at a self-help terminal where their photographs will be taken, to give them their own unique ticket to ride.
Technology will be an enabler not only to resolve environmental, social and governance (ESG) issues but also to help raise productivity. Eastspring Investments is on the lookout for trends that will reshape the investment landscape.