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PH’s GDP can increase by $8 billion in 4 years through digital transformation — study (INQUIRER.net)

(Photo: INQUIRER.net)

In the next four years, digital transformation is estimated to contribute $8 billion (P416.9 billion) to the Philippines’ GDP, with an increase in growth rate by 0.4 percent annually, according to an IDC study.

Microsoft, in partnership with IDC Asia/Pacific conducted the study “Unlocking the Economic Impact of Digital Transformation in Asia Pacific” among 15 countries in Asia, to examine the impact of digital transformation on traditional business models.

Digital transformation refers to the change that occurs when digital technology is applied to human society. It includes the use of digital products and services like mobility, cloud, Internet of Things (IoT) and artificial intelligence (AI).

Three percent of the country’s GDP came from digital products and services in 2017.

By 2021, 48 percent of Southeast Asia’s GDP is expected to be derived from digital products and services “with growth in every industry,” said Daniel-Zoe Jimenez, research director of Digital Transformation Practice Lead, IDC Asia/Pacific.

Of the 1,560 respondents which included business and IT leaders, 100 hailed from the Philippines.

Effect on labor, organizations

The benefits of digital transformation were mainly linked to improving employment. The leaders identified three key benefits to society, namely increasing personal income through freelance and digital work, higher value jobs and more training opportunities.

In the country, the most in-demand skills are big data, cloud computing and mobile development.

To read the rest of this article, please use this link: http://business.inquirer.net/245943/p2fb-phs-gdp-can-increase-by-8-billion-in-4-years-through-digital-transformation-study


By Niña V. Guno | February 23rd, 2018

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