Ten enterprises have emerged as the winners of the 2021 AIBP ASEAN Enterprise Innovation Award. The 5th annual edition of the Award saw over 130 nominations from Indonesia, Malaysia, Philippines, Thailand & Vietnam, narrowed down to 27 finalists and 10 final winners.
Winners of the Award are as follows:
- Ayala Land Inc.
- Bangchak Corporation
- Bangkok Bank Public Company Limited
- Bank Mandiri
- Carsem M Sdn Bhd
- Mavin Group
- Manila Electric Company (Meralco)
- PT Transportasi Jakarta
- Sarawak Energy
- Tien Phong Commercial Joint Stock Bank (TPBank)
Commenting on innovation initiatives observed among ASEAN enterprises this year, Irza Suprapto, CEO of Industry Platform said “We’ve seen ASEAN grow as a region in the past decade, and over the past two years, businesses have had to grapple with uncertertaines around the pandemic. Amidst these challenges, attitudes towards digitalisation and innovation have shifted as they take centre stage in driving growth and development for enterprises in ASEAN, one of the fastest evolving digital economies in the world.”
Among the winning enterprises, highlights from the innovation and digitalisation initiatives in 2021 include implementation of new, cutting-edge technologies and the creation of new business value.
Enhancing Processes with Advanced Technology
Key technologies highlighted by the enterprise winners across different industries include the application of blockchain, artificial intelligence (AI) and machine learning (ML). At Bangkok Bank, enterprise blockchain digitised the entire trade finance process, revolutionising international trade transactions. In the electric utility sector, Sarawak Energy Berhad is exploring blockchain technology to be applied in the wholesale energy market.
83% of ASEAN enterprises consider their organisations data-driven, with some going beyond to extract more value from data by incorporating AI and ML. Bank Mandiri is a pioneer in Indonesia employing AI and ML to analyse patterns in their ecosystem data for insights to provide personalised financial services. Transjakarta is also exploring the use of technology such as AI, IoT with new data structures that support streaming analytics to optimise bus dispatching services and meet passenger demand.
Low-code platforms were key enablers of several of the winning innovation projects for enterprises like Ayala Land and Bangchak Corporation to ensure configurability and scalability of application development.
Unlocking New Business Value through Innovation and Digitalisation
In the banking and financial services sector, Bangkok Bank and Bank Mandiri seek to maximise customer value with digitalisation. Bangkok Bank is exploring commercialisation of the Distributed Ledger Technology for trade services. Bank Mandiri’s Integrated Value Chain Ecosystem enables understanding of interactions across the wholesale banking ecosystem.
With the launch of their mobile application, Transjakarta seeks to expand their service offerings by scaling the platform into a larger digital ecosystem integrating e-commerce, loyalty programmes, financial services, etc. Bangchak Corporation has also expanded its business to green energy, oil trading and natural resources among others.
As we enter 2022 with improved business processes and renewed optimism, ASEAN’s enterprise digital transformation and innovation journey will continue to scale greater heights as resilience and sustainability become cornerstones of businesses.
About AIBP ASEAN Enterprise Innovation Award
The Enterprise Innovation Award was established in 2017 by AIBP with the key objective of giving recognition to organisations which have embarked on projects to digitally transform their business through the adoption of innovative technology. The awards are held annually in the following ASEAN countries: Indonesia, Malaysia, Philippines, Thailand and Vietnam.
AIBP serves as an avenue for public and private organisations in Southeast Asia to access and exchange information about growth and innovation within the B2B space. With a current network of over 30,000 stakeholders in Southeast Asia, AIBP continues to develop ecosystems by engaging in activities which create value-adding information for our stakeholders seeking to make transformative impacts within their organisations.
3 January 2022