Here are five key digital transformation trends to help businesses along in the journey.
Written by Hannah Lazatin
Digital transformation has substantially evolved in recent years, assisting many businesses and industries to recalibrate their operations to overcome the challenges and thrive post-pandemic.
Many companies in the Philippines have started embracing the concept of digitalization. Research from the International Institute for Management Development reports that our country improved in terms of competitiveness in shifting to digital technology as a catalyst for economic transformation. Providing increased efficiency and enhanced operations, digital transformation helps businesses drive growth through the pandemic aftermath and unforeseen economic situation.
To sustain this momentum and push forward, here are five key digital transformation trends to help Filipino businesses evolve every day.
Big shift to cloud computing
As anticipated, businesses are observed to shift more of their data to the cloud. In fact, according to Statista’s research, the revenue in the Philippines’ public cloud market is expected to reach PHP 46.14 billion in 2023.
Adopting cloud computing lowers IT operating costs, enhances the time-to-value and agility of business operations, reduces data loss, and fosters better organizational collaboration.
Remote work and hybrid networks
The pandemic has enabled businesses to adapt hybrid and remote work setups resulting in location convenience, cost efficiency, and employee flexibility and safety. Thus, requiring more reliable connectivity and hybrid network solution providers to ensure that stakeholders can simultaneously access data across devices and locations. With the advent of remote work, there is a need for alternative connectivity solutions to cater to far-flung areas across the Philippines.
Enhanced cybersecurity
With the rapid rate of digitization in the country, cyber threats will conversely continue to grow exponentially, incurring the demand for increased cybersecurity protection. According to research by Tessian, cyberattacks aggressively increased over 2021. Cybersecurity awareness is critical to prevent the onslaught of threats and attacks. Evolving cybersecurity measures are critical in combating rapidly advancing cyberattacks.
The rise of artificial intelligence
Within the last decade, artificial intelligence or has become a relevant topic when it comes to technological trends. AI is efficient and effective in creating new business opportunities in the digital age and better services including shorter turnaround time, reduced errors, and personalized AI-to-customer interactions.
As it saw tremendous developments in 2021, AI and machine learning also became huge trends in Software as a Service (SaaS) cloud security services as these facilitated automated threat detection. Based on FinancesOnline, SaaS currently represents the largest world market segment for public cloud services and is expected to reach USD 623 billion by this year at a compound annual growth rate of 18%.
Future in the metaverse
The metaverse refers to an expansive and immersive future vision of the internet. In particular, the metaverse is the vision of a digital universe that exists alongside and seamlessly blends with our actual universe.
The adoption of the metaverse enables businesses to take work, recreation, shopping, and socializing to a whole new level. Highlighting several sectors such as finance, real estate, construction, and retail, the metaverse can improve employee and client experiences by transforming traditional business processes into immersive ones.
Hannah Lazatin is brand communications head for Eastern Communications. Read more about these trends at www.eastern.com.ph.