Globe's digital transformation over the last five years marked the beginning of many local industry innovations that are now changing the Philippines, paving the way for the Fourth Industrial Revolution or commonly known as IR 4.0.
Globe President and CEO Ernest Cu said that the company enabled the new way of life of Filipinos by becoming the purveyor of digital lifestyle after its massive network transformation about a decade ago. “Globe will be at the forefront of innovation using advanced technologies that would help our nation move forward alongside its neighbors,” Cu added.
A study conducted by the Philippine Institute for Development Studies (PIDS) entitled "Preparing the Philippines for the Fourth Industrial Revolution" defined IR 4.0 as "the digital revolution with cyber-physical systems providing new mechanisms and allowing technology to be embedded within societies and even the human body.” IR 4.0 is a technological movement that will basically alter the way people live, work, and relate to one another.
“Globe's digital transformation enabled new industries to thrive in the country's digital economy, resulting in the high adoption rate of online shopping, ride-hailing, and mobile food delivery applications among Filipinos,” Cu said.
Cu revealed that Globe has gone beyond telco with major interests in venture capital funding for startups, financial technology, digital marketing solutions, and virtual healthcare.
“Kickstart Ventures for instance is now managing Ayala Group's new $150 million venture capital fund to support startups pursuing innovations along key technology areas in data and analytics, machine learning, artificial intelligence, cloud computing, fintech, automation, real estate, retail, transport, energy, water, health and wellness, and food,” Cu said.
“GCash, on the other hand, is shaping the financial technology landscape in the Philippines and playing a key role in the development of e-commerce in the country, which is needed to boost the digital economy,” Cu added. GCash has now 20 million registered users overtaking the total number of credit cardholders and over 63,000 partner merchants nationwide, making financial transactions easier for Filipinos.
According to the PIDS study, the First Industrial Revolution was the emergence of manufacturing processes spanning from 1760 to 1840 characterized largely by the emergence of mechanization, replacing agriculture with industry as the main engine of economic activity of societies. The Second Industrial Revolution was the industrialization brought about by the use of oil-powered internal combustion engines, electrical communication, electrification of the factory, and mass production. The Third Industrial Revolution is marked by the start of the Information Age dubbed as the Digital Revolution as most of the new processes were influenced by digital computers.