What is the Value of Digitilisation for the Asia-Pacific?

What is the Value of Digitilisation for the Asia-Pacific?

We’re constantly bombarded with talk about the value of digital transformation. It’s a record that keeps on spinning, crackling out a call for growth and opportunity. The question is – what does it all mean, and what does that opportunity really look like?

Digitilisation is the battle cry of a new wave of tech-driven innovation. It is about supporting the shift from traditional ways of working towards businesses empowered by connectivity and emerging technologies.

But jargon aside, in its simplest form this digital transformation is no different to any other drive for our businesses to maintain relevance; embracing emerging opportunities to stay competitive and improve your operations.

So as we all rush to plug in, log on, and power our businesses towards the promised land of digital opportunity, we explore the real value of digitilisation.

Predicting the value of digitilisation

A recent report released by Microsoft in partnership with IDC estimates that digitilisation could add up to US$10 billion to Malaysia’s GDP, alongside delivering an increase in annual growth of 0.6%. So how is the Asia-Pacific as a whole set to benefit?

According to the same Microsoft report, digital transformation will add an estimated US$1.16 trillion to Asia-Pacific’s GDP by 2021, increasing growth by 0.8%. That’s more than just pocket change.

It’s not simply total value added where the reality of digital transformation is evident. While just 6% of the region’s GDP is derived from digital products and services today, that figure is expected to reach roughly 60% by 2021.

Respondents to the Microsoft study revealed a full range of established benefits:

Digitilisation starts with a first step

Digitilisation as an overarching concept can be an intimidating prospect for a business. But remember, organisational transformation is the ultimate goal, but starting the journey towards that begins with a first step. There’s no doubt that realising the benefits of technology for your business must be an essential priority in the modern marketplace.

From the opportunity for improved operational efficiency and substantial savings available with e-procurement solutions to the exciting potential of artificial intelligence, digitilisation offers the potential to unlock value at every level of your business.

You don’t need to be Bill Gates to understand the power of this transformation, when it comes to digitilisation, the numbers rather speak for themselves. It seems the wider value of digital transformation is clear, the next question must surely be – are you ready to embrace that opportunity for your business?

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