SINGAPORE, June 28 (Xinhua) -- Governments, companies and academia need to form new partnerships to better address security issues that cut across sectors and national boundaries, said Singapore's Deputy Prime Minister Teo Chee Hean on Thursday at the inaugural Singapore Defence Technology Summit.

Teo said growing digital integration and interconnection among economies make the world more rely on key nodes and critical information infrastructure, and bring higher concentration risks which is not just a local disruption, but potentially a system-wide global one.

"Governments and companies therefore need to address this concentration risk and work together with the research community to develop solutions to tackle these evolving vulnerabilities," he added.

According to the deputy prime minister, Singapore looks forward to working with international partners to better understand how to deal with cyber attacks on national and global system, such as the global financial system and the cross-border trading or transport systems.

Teo also called for global joint efforts in establishing new codes of practice and norms for technologies that are becoming ready for deployment, but where there are no international standards.

He said the fourth industrial revolution features exciting breakthroughs in a wide range of areas, including data analytic, artificial intelligence, robotics, cognitive computing, Internet of Things and nanotechnology.

These new technologies can bring opportunities to the global defence and security community, helping them achieve near comprehensive awareness, deal more effectively with conventional or traditional threats, achieve the mission with lower collateral damage in the battlefield, and protect borders by seeking out potential threats before they develop into actual attacks.

However, the rapid technology development also poses new risks for the defence and security community, such as cyber attacks, drones used by terrorists and criminals, and the hybrid warfare encompassing the physical, virtual and socio-psychological spheres, Teo added.

The Singapore Defence Technology Summit, organized by Singapore's Defence Science and Technology Agency, is held here from Wednesday to Friday.