Rapid adoption of digital technologies can help the Philippines overcome the impact of the Covid-19 pandemic, recover from the crisis, and achieve its vision of becoming a middle-class society free of poverty, according to the report released today by the World Bank and the National Economic and Development Authority (NEDA).
Titled “A Better Normal Under Covid-19: Digitalizing the Philippine Economy Now,” the report says that the use of digital technologies such as digital payments, e-commerce, telemedicine, and online education, is rising in the Philippines and has helped individuals, businesses, and the government cope with social distancing measures, ensure business continuity, and deliver public services during the pandemic.
“This pandemic has caused substantial disruptions in the domestic economy as community restrictions have limited movement of people and reduced business operations nationwide. As we are now living with the new normal, the use of digital technology and digital transformation have become important for Filipinos in coping with the present crisis, moving towards economic recovery, and getting us back on track towards our long-term aspirations,” NEDA Undersecretary Rosemarie G. Edillon said.
The use of digital technologies in the Philippines, however, is still below its potential, with the country’s digital adoption generally trailing behind many regional neighbors. The “digital divide” between those with and without internet leads to unequal access to social services and life-changing economic opportunities.
“Internet connectivity – the foundation of the digital economy – is limited in rural areas, and where they are available, services are relatively expensive and of weak quality,” said Ndiame Diop, World Bank Country Director for Brunei, Malaysia, Philippines and Thailand. “Upgrading digital infrastructure all over the country will introduce fundamental changes that can improve social service delivery, enhance resilience against shocks, and create more economic opportunities for all Filipinos.”
Where internet services are available, Filipino consumers experience slow download speeds. At 16.76 megabytes per second (Mbps), the Philippines’s mobile broadband speed is much lower than the global average of 32.01 Mbps. In the region, the 3G/4G mobile average download speed stands at 13.26 Mbps compared to only seven (7) Mbps in the Philippines.
Efforts to enhance digital infrastructure in the Philippines are hindered by a lack of competition as well as restrictions on investment in the telecommunications markets, according to the report. These restrictions include the public utility designation of telecommunications, which limits foreign ownership and places a cap on the rate of return.
The report also identifies the low transaction account ownership, the lack of a national ID, nascent payment infrastructure, and the perceived risk of digital transactions as restricting the wider adoption of digital payments.
Encouraging wider participation on digital payments is best supported by public agencies going digital themselves. Two key entry points identified in the report are expanding the use of e-signatures among government agencies and mandating the acceptance of e-invoices and e-receipts in government transactions.
According to World Bank Economist Kevin Chua, lead author of the report, increasing digital adoption by the government, businesses, and citizens is critical, not only to help the Philippines adapt to the post-COVID-19 world, but also to achieve its vision of becoming a society free of poverty by 2040.
“In this society-wide digital transformation, the government can take the lead by speeding up e-governance projects, such as the foundational identification system and the digitization of its processes and procedures, which will help promote greater inclusion, improve efficiency, and enhance security,” said Chua. “Moreover, the government can take an active role in fostering policies that reduce the digital divide and create a more conducive business environment for the digital economy to flourish.”
Fostering innovation and improving the business environment in the country will be critical in supporting the digital economy. Recent government efforts to speed up the rollout of mobile network infrastructure through a common tower policy are steps towards the right direction, said the report.
Absolute Digital Media On The New Digital Marketing Trends of 2021
The year of 2020 is one that many of us are more than happy to leave behind for new beginnings, but with a new year also comes a new load of marketing trends. Out of these marketing trends, which of them will be best for your business? In this article, we will be providing you with insight into some of the new digital marketing trends for 2021.
Social Media Will Become More Important Than Ever
Social media has been used in marketing for several years now, but in 2021 it will be more important than ever before. With platforms such as Facebook implementing a market place for individuals and businesses to advertise and sell their items, this will be a new way for customers to not only to discover companies but also purchase items directly from their Facebook pages. This will become a new way for agencies such as Absolute Digital Media to use social media to increase their own visibility as well as their clients.
Virtual Events Are Here To Stay
Throughout the year of 2020, people all over the world were forced to stay inside for longer than ever before as the virus took a hold of our lives. However, this has led to several businesses adapting to still host major events without having their attendees to travel. This has meant that virtual events for marketing have become more popular than ever before. This has been a popular move for an online marketing agency as this has provided them with the platform, they need to show their expertise and show their branding.
Absolute Digital Media On Using Chatbots
In addition to virtual events, there has been a huge focus on automation as we head into 2021. One of the biggest trends when it comes to marketing is the use of a chatbot. With several industry experts such as Ben Austin CEO of Absolute Digital Media and several others singing the praises of chatbots when aiding the conversion funnels, this is a new way of aiding customers through the discovery stage of the conversion funnels and into purchasing a product from you whether through your own website or another retailer.
Personalised Marketing Is More Important Than Ever
Along with virtual events and atomisation, personalised marketing techniques are more important than ever before. With personalised marketing in the form of email marketing and personalised messages, you can personally help the customer on their journey and make the sales process significantly easier. Though this will take time to implement this can provide your sales team with the perfect opportunity and aid in closing deals in the long term. This will not only help to boost your business, but it will make sure that the conversion funnel is optimised fully.
As a business owner, you want to make sure you have the best for your business and these trends are on, hand to help you out. Which of these will you be implementing within your business throughout 2021?
Deloitte Releases Tech Trends 2021
The public sector has been thrust to the forefront of the societal and economic disruption caused by the pandemic, and technology leaders have had to accelerate digital transformation and reimagine how to enable their workforce and better serve Americans. Deloitte’s 12th Annual Tech Trends Report, released today, examines the trends and opportunities that will disrupt every industry to a varying degree in the next 12 – 18 months. The special government analysis reviews the trends through a public sector lens and provides examples of the trends in action with agencies applying them to advance their missions.
“Digital transformation projects that used to take years have been completed in a matter of months. Government tech leaders have demonstrated their own grit and resilience and that of their organizations through this disruption,” said Scott Buchholz, Emerging Technologies Research Director and Government and Public Services CTO, Deloitte Consulting LLP. “However, 2020 has clearly shown that organizations need to become nimbler in strategy and culture. Moreover, they need to be modernizing mission-critical systems while enhancing security and maintaining zero disruption operations.”
To read the Tech Trends 2021: A government perspective and how prepared government agencies are to navigate continued disruption, click here.
AI Business Names Deloitte Leader David Kuder AI Innovator of the Year
Deloitte today announced that Dave Kuder, principal, Deloitte Consulting LLP, and leader of Deloitte’s U.S. AI insights and engagement market offering, is the winner of the this year’s AI Innovator of the Year award from AI Business. Kuder was recognized for his work in serving as a trusted advisor for clients on AI transformation efforts; empowering AI talent with curated learning and development curriculum, and enabling new Conversational AI and AI Foundry businesses.
The award was announced Dec. 9 as part of the 2020 Virtual AI Summit New York and recognizes a leader who leveraged AI innovation to revolutionize the way we work, live and interact with society. The 12 finalists included individuals from leading organizations who exhibited outstanding performance, drove meaningful change, and spearheaded innovative projects within the field of AI. The winner was chosen through an online poll of Kuder’s peers in the AI industry.
“Over the past year, we’ve seen the power and benefits of leveraging AI in business — and in our everyday lives — as we adapt to working and living in new ways,” said Kuder. “I’m honored to be recognized by my peers and AI Business and am proud to work alongside my colleagues at Deloitte, who inspire new innovation and offer experienced counsel to our clients each day. Our team is agile and quick-minded, which has undoubtedly helped us remain at the forefront of the AI field during the most disruptive year yet.”
Deloitte guides clients navigating human and machine collaboration and allows organizations to realize the power of the “Age of With.” Deloitte’s experienced team of leaders help clients implement automation that creates efficiency in processes, workflows and decisions; uncover insights to drive better and faster decision making; and create engaging and human-like digital interactions and outcomes. For more information about Deloitte’s work with analytics and AI and perspective on the Age of With, please visit the website.
The Deloitte AI Institute’s mission is to support the positive growth and development of AI through engaged conversations and innovative research. It also focuses on building ecosystem relationships that help advance human-machine collaboration in the “Age of With,” a world where humans work side-by-side with machines.
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