The advent of the ASEAN Economic Community (AEC) promises to bring greater opportunities and wealth creation for the Philippines economy. With the AEC being enforced, companies within the region may be encouraged to open new locations in other ASEAN member-nations, creating a new demand for domestic and foreign ICT-enabled workforce. Deloitte estimates that the Philippines BPO industry will hit $25.5 billion and employing 1.4 million people by the end of 2016.
The Philippine government has also put in motion various roadmaps to energize the economy. The Philippine Digital Strategy (PDS) for instance, outline the initiatives to adopt greater technology in the state. The "Smarter Philippines" smart city initiative was first drawn up in 2013 to use technology to improve economic growth, and Cauayan is the first of 144 cities to become a "smarter city"
The Philippines has drawn up an e-commerce roadmap 2016-2020 outlining the industry's blueprint for growth. The country has also seen increased adoption of cloud computing, driven and shaped by smartphone and mobile users. Consequently, the e-commerce sector doubled its revenues from $1 billion in 2014 to 2 billion in 2015.
All of these point to a Philippines that is poised for even better times ahead. Once the infrastructure for digitisation is in place, businesses can even look at extending digitisation to the supply chain network to create even greater transparency in its business dealings, thus eliminating potential risks. For instance, using analytics, businesses can ensure their suppliers adhere to the same values that they uphold, be it environmental goals or corporate governance practices.
Technology has the potential to elevate pretty much every aspect of people's lives. From bringing electricity and clean water to rural areas to food sustainability, there are data-driven solutions that can help solve today's global challenges.
By unlocking the value of data and reimaging how businesses and government agencies run, the Philippines is well on its way to creating better lives for its people.
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