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IDC warns businesses: Embrace digital mind-set or risk missing out

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“THE MESSAGE IS CLEAR,” said International Data Corporation (IDC) Philippines Country Head Jubert Daniel Albert.

“Any organization who will not have the speed, the innovation, and the agility to actually compete head on with their competition and with disruptions in their respective industries will have, what we say here, a smaller and smaller piece of the global economy.”

That was his warning to organizations before IDC revealed its top ten Philippine information and communications technology (ICT) predictions for 2018 and beyond at IDC Philippines FutureScape 2018 last Wednesday, Feb. 21.

This year’s predictions tracked the current progress of the Philippine’s digital economy and highlighted the need for local organizations, both public and private, to harness the power of technology to fuel innovation and accelerate digital transformation (DX) — defined by Mr. Albert as the marriage between technology and business objectives.

Here are IDC’s top 10 prediction for 2018 and the next three years:

1. OUT-OF-THE-BOX THINK TANKS.
In the next three years, IDC expects disruptive CIOs (Chief Information Officers) to set the tone and pace of ICT development in the Philippines.

2. UPSCALING JOBS THROUGH ICT.
IDC expects that by 2021, the demands of the new borderless economy will push enterprises to manpower reskilling and upscaling jobs through ICT.

3. AUTHENTICATION AND TRUST.
By 2019, 20% of CIOs will shift their cybersecurity focus toward “authentication and trust” to better handle business risks.

4. WORKSPACE 360.
By 2019, the rise of the digital natives and the influence of digital-native mind-set on enterprises will push novel workspace trends.

5. DIGITAL EMPOWERMENT: NON-DISRUPTIVE DIGITAL DISRUPTION.
In the next two years, the country’s continuing journey toward digital transformation will pave the way for retail and financial technologies and services that integrate seamlessly into the daily lives of the local community.

6. PERSONALIZATION IS THE NEW STANDARD.
In the next 12 to 24 months, utilizing digital-driven, customized, and personal approaches to customer intimacy and talent acceleration will become a standard practice among Philippine enterprises.

7. FUTURE OF PAYMENTS.
By 2019, the country will continue to witness creative and Philippine-centric payment and remittance innovations, driven by the country’s unbanked sector and the ongoing rise of remittances from overseas Filipino workers (OFWs).

8. DX IN BUSINESS PROCESS OUTSOURCING (BPO) INDUSTRY.
By 2019, DX shakes up the BPO market dynamics, BPO providers that align their DX plans with the changes in the industry will gain competitive edge in the local market.

9. ANALYTICS-DRIVEN MARKETING.
In the next five years, Philippine enterprises that incorporate analytics and customer insights into their marketing will see a commanding lead over competitors in customer retention and profitability.

10. DIGITAL ECONOMY TIPPING POINT.
In the next 12-36 months, enterprises are headed to a different higher level of maturity when it comes to DX adoption. In the same manner, clearer digital vision for the country should be seen, as the government barrels up its ICT initiatives.

Mr. Albert ends by pointing out that the predictions are very Pinoy centric and that in previous FutureScapes, only predictions involving the government failed to materialize. He said that only with cooperation between public and private organizations will full digitalization be completely pushed and integrated in the country. — Dane Angelo M. Enerio