Recent IDC predictions show that at least 30% of organisations across Philippines will achieve “digital determination”, transforming their respective markets and reimagining the future through innovative business models and digitally enabled products and services.
The forecast examines Philippines information and communications technology (ICT) industry for 2019 and following years.
According to IDC, digitally determined organisations demonstrate the ability to visualise how the markets and customers will change and reinvent themselves to better respond to the needs of these future stakeholders through new and emerging technologies, capabilities, and business models.
Over the years, the Philippines has made significant developments in its overall digital ecosystem.
“To be digitally determined, Philippine organisations require more than just resilience; they need a ‘blueprint’ that consists of a unified enterprise strategy, a long investment plan based on the principle that digital is inherently valuable to the business, and a single digital platform to scale technology innovations,” said Sudev Bangah, managing director for IDC ASEAN.
“But aside from these technical aspects, digital determination involves having the will to make the required organisational and cultural changes to better adapt in today’s digital transformation age,” he said.
Bangah also added, “New technologies are changing paradigms for individuals, businesses, industries, economies, and governments. The race to the future enterprise has begun. And with digital disruption becoming the new normal, no one and no entity will be spared of the need to at least reset or reboot themselves, if not reinvent.”
IDC Philippines’ technology and industry analysts also revealed the key trends that are set to present opportunities and challenges to IT leaders in 2019 and beyond. These are:
1 – Digital determination: By 2020, at least 30% of organisations will be digitally determined, transforming markets and reimagining the future through new business models and digitally enabled products and services.
2 – Digital trust: By 2020, 40% of CIOs will initiate a digital trust framework that goes beyond preventing cyber attacks and enables organisations to resiliently rebound from adverse situations, events, and effects.
3 – Digital KPIs: By 2023, 55% of entities will have incorporated new digital Key Performance Indicator (KPI) sets – focusing on product/service innovation rates, data capitalisation, and employee experience – to navigate the digital economy.
4 – Data monetisation: By 2021, 40% of large enterprises will create data management or monetisation capabilities, thus enhancing enterprise functions, strengthening competitiveness, and creating new sources of revenue.
5 – BizOps: By 2021, 45% of CIOs will expand agile/DevOps practices into the wider business to achieve the velocity necessary for innovation, execution, and change.
6 – Digital twin: By 2023, 30% of the Philippines’ top 1,000 companies will have implemented advanced digital twins of their operational processes, which will enable flatter organisations and one-third-fewer knowledge workers.
7 – AI-driven edge: By 2023, over 30% of organisations’ cloud deployments will include edge computing, and 15% of endpoint devices and systems will execute artificial intelligence (AI) algorithms.
8 – Blockchain-enabled digital transformation (DX) platforms: By 2023, prominent in-industry value chains, enabled by blockchains, will have extended their digital platforms to their entire omni-experience ecosystems, thus reducing transaction costs by at least 30%.
9 – AI is the new user interface (UI): By 2024, AI-enabled UIs and process automation will replace one-third of today’s screen-based applications. By 2022, 30% of enterprises will use conversational speech technology for customer engagement.
10 – AI governance: By 2022, 30% of enterprises will task CIOs to transform and modernise governance policies to seize the opportunities and confront new risks posed by AI, machine learning, and data privacy and ethics.