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The Next Tech Adoptions for Large Enterprises in the Philippines | Part 3

This article is the third in our three-part blog series highlighting AI, 5G, IoT, and data-driven strategies.


In an era where technology is advancing at breakneck speed, large enterprises are constantly at the forefront of adopting the latest innovations to stay competitive.


The challenge is incorporating digital solutions and data analytics throughout the organization to boost agility. This is key for addressing large enterprises' challenges, like managing complex operations, clearing workflow bottlenecks, and providing great customer experiences.


In part one of this blog series, we explored the benefits of a digital-first and data-driven strategy and how Intelligent Organization Solutions can help businesses stay competitive. In the second installment, we examined the different intelligent solutions that MSMEs can leverage to accelerate their technology adoption and embrace digitalization.


In this final installment, we will look into some technologies that large enterprises can leverage to stay ahead of the curve. Here are the different technologies that can help large enterprises stay ahead in today's business landscape:


1. Artificial Intelligence (AI) and Machine Learning (ML)


A survey by ManageEngine, the enterprise IT management division of Zoho Corporation, called "IT at Work: 2022 and Beyond," found that 95% of business decision-makers in the country have invested in AI or ML technologies. Most investments aim to prevent cyberattacks and automate operations, customer service, and sales processes.


This shows a strong commitment to using advanced technology for growth and supports the government's push for digital transformation.


2. Generative AI


The 2023 KPMG Generative AI Survey revealed that 74% of people across various sectors believe Generative AI will be the most impactful emerging tech on businesses in the next three to five years. Gen AI has the potential to automate and optimize complex tasks and generate new opportunities for growth and innovation.


This puts it ahead of other technologies, such as advanced robotics, quantum computing, AR/VR, 5G, and blockchain.


Additionally, Jack Madrid, President of the IT and Business Process Association of the Philippines (IBPAP), believes AI is expected to create significant growth opportunities within the Information Technology and Business Process Management (IT-BPM) industry.


The technology can decode complex customer questions and understand nuanced intent, sentiment, and context. This leads to accurate and relevant responses, resulting in better customer experiences.


3. 5G and the Internet of Things (IoT)


Private 5G networks are expected to bring significant advantages to large enterprises. Businesses can have dedicated and secure connectivity with a private network, ensuring smooth and uninterrupted data transmission.


Furthermore, 5G can support large-scale Internet of Things (IoT) deployments thanks to its low latency, superior connectivity, and high bandwidth features. This proves especially advantageous for applications where reliability is critical.


4. Big Data for Better Decision-Making


Data is a fuel for growth and offers a golden opportunity for modern organizations. It empowers analysis, risk management, and future planning. Yet, the volume, velocity, veracity and variety (4Vs) of data make it challenging to manage and maximize its value. Many businesses drown in a sea of information. Despite investments in data platforms, the challenge lies in swiftly obtaining the right data in a readily analyzable format.


To tackle data challenges, there are businesses that have started shifting to cloud-native database-as-a-service (DBaaS). This service offers a secure platform to store, manage, and analyze data using various tools and techniques, such as data warehousing and data lakes.


Strategy Shift: Data-Driven and Digital-First Approach


Any tech adoption requires a shift in business strategy and mindset. This shift includes a complete data-driven and digital-first approach, where organizations use data to drive business decisions and prioritize digital solutions in all operations.


Digital-First


McKinsey reports that digital-first companies often experience enhanced productivity and growth, boasting a 30% surge in customer satisfaction, a 20% boost in employee satisfaction, and overall economic advancement.


In essence, a digital-first strategy entails:

  • Giving more importance to digital channels than traditional ones
  • Aligning business models for agility and data-driven approaches
  • Nurturing a digital culture within the organization


Data-Driven


By 2025, data production will reach 463 exabytes per day. For context, the world's total digital storage was 487 exabytes in 2009. By future standards, we would fill that in less than two days.


With this exponential data growth, enterprises must be prepared to handle, analyze, and make sense of this vast amount of data to stay competitive. Data holds growing value, particularly from a business standpoint. It offers insights into a company's operations, indicating progress, areas for enhancement, and strategies for implementation.


A data-driven enterprise has embedded data analysis at the heart of its operations, leveraging insights to revolutionize its business processes.


Key traits of data-driven companies are:

  • An organization that embraces automation
  • Capacity to foresee both internal and external shifts
  • Possesses an adaptable mindset
  • Continuous improvement and optimization
  • A culture that recognizes and utilizes the vast potential of data


How Large Enterprises Can Leverage These Technologies


Here is an example of how large enterprises can harness the power of a data-driven, digital-first approach to stay competitive:


Automation


By adopting automation solutions, organizations can automate repetitive tasks, improve productivity, and enhance customer experience. Some key ways large enterprises can use automation to improve their business include:

  • Streamline Business Processes: Automation platforms streamline essential processes like IT service requests, security access, finance, marketing, HR, and procurement, making operations more efficient.
  • Compliance Automation: With a central platform to manage compliance, companies can meet regulatory requirements efficiently and affordably. This is especially important in regulated industries.
  • Cross-Departmental Use: Automation tools can link processes and approvals across departments, speeding up operations, enhancing efficiency, and boosting organizational performance.


Data and Analytics


Large enterprises can leverage data and analytics tools to enable informed decision-making, boost customer experience, and stay ahead of the competition. Some examples include:

  • Data-Driven Marketing: By utilizing data analytics solutions, companies can understand their customers better, personalize outreach and marketing strategies, and boost engagement.
  • Risk Management: AI risk management tools employ data analytics to spot patterns or anomalies signaling potential risks, enabling organizations to address and mitigate these risks before they happen proactively.
  • Predictive Maintenance: AI-powered predictive maintenance uses real-time data to anticipate when equipment may fail, preventing costly downtime or repairs.


Artificial Intelligence (AI)


AI technologies offer several innovative possibilities for large enterprises, including:

  • Chatbots: Enterprises can use AI-powered chatbots to provide quick, efficient, and personalized customer service without human intervention.
  • Predictive Analytics: AI predictive analytics can analyze large data sets to uncover insights and predictions beyond human capability, helping organizations make informed decisions.
  • Data-Driven Inventory Management: By utilizing AI-powered inventory management solutions, companies can optimize inventory levels and predict demand, reducing costs and improving efficiency.
  • New Product or Service Ideas: AI can assist businesses in identifying patterns or gaps in the market, generating ideas for new products or services that meet customer needs and preferences.


Large enterprises can benefit significantly from adopting automation, data and analytics, and AI technologies. With Globe Business, organizations can leverage our expertise in digital transformation, ensuring they are well-equipped to adapt, innovate, and stay ahead in a rapidly evolving marketplace. Together, we can unlock new growth avenues, fostering a future where businesses survive and thrive.


Curious to discover more about our products and solutions? Visit our organization intelligence solutions page or contact your Globe Business Account Manager today.


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