IDC Philippines predicts that by 2020, 30 percent of organizations in the country have achieved “digital determination” by transforming businesses to adapt to the digital landscape and many of them looking forward with their own innovations.
The industry analyst firm said that a digitally determined organization must have the ability to future-proof itself in the constantly changing business landscape. Emerging technologies such as artificial intelligence are the drivers of yet another digital transformation.
“To be digitally determined, Philippine organizations 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 organizational and cultural changes to better adapt in today’s digital transformation age.”
He added that new technologies allow organizations to rethink business models so they would be more elastic in adjusting strategies in the future.
“The race to the future enterprise has begun,” he said. “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.”
Sean Agapito, market analyst at IDC Philippines, gave a rundown of the firm’s top key trends that would shape local businesses.
To further understand the challenges and opportunities companies will have this year, Agapito classified these key trends into groups which are reshaping the organizations, redefining leadership roles, and innovating interactions.
IDC sees that organizations will incorporate digital KPIs to be able to navigate the digital economy. Businesses need to focus on innovations, employee experience, and data capitalization.
Artificial intelligence (AI) is now coming up in mainstream discussions and its popularity will allow 30 percent of companies to adopt cloud that includes edge computing in 2023 while 15 percent of endpoint devices and systems will execute AI algorithms. This “new” technology will also be instrumental in changing the user interface in devices by 2024, Agapito said.
Another emerging technology that came up in IDC’s key trends update includes blockchain with the industry firm said that by 2023, “prominent in-industry value chains, enabled by blockchains, will have extended their digital platforms to their entire omni-experience ecosystems, reducing transaction costs by at least 30 percent.”
Image by Gerd Altmann/Pixabay