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Asian Futuristic City

3 Digital Transformation Trends in Asian Business This 2021

by Venz Salvador on and last update on December 22, 2020

Embracing digital transformation is a key differentiator for companies who intend to excel in 2021. By streamlining processes and improving workflows with technology, businesses can build a solid — and repeatable — strategy for success.

 

Let’s check out the leading digital transformation trends for 2021.

 

Digital Transformation Is Fuelling Asia’s Economy

The Asia Pacific region is on track to becoming a leading innovation hub, with many disruptive technologies flourishing and becoming ingrained in a growing number of processes.

In 2021, technology will be the focal point for all business-oriented improvements, streamlining and strengthening workflows across industries.

 

An increasing number of Asia Pacific companies already reap the benefits of digital innovation and spur growth and sales — even traditional business models benefit from technology-driven disruption.

Spearheading the adoption of technology, companies become industry leaders that swiftly rebound from the COVID-19 fallout.

 

IoT Dominance

IoT and smart cities are blooming in the Asia Pacific region. Multiple governments in the region are eagerly pursuing their smart economy initiatives.

 

For example, Singapore — the current leader in the Asian Digital Transformation Index — opened its proprietary data portal with over 680 databases from different government agencies. Many businesses have already used this vast data library to build over a hundred applications for a variety of use cases.

 

Similarly, a study by Adobe predicts that China and India will become leaders in IoT by 2025.

 

Asia Pacific countries bet heavily on IoT for monitoring and analyzing the environment to design and develop optimized cities.

 

The goal is to deploy IoT devices to all important facilities, such as transportation systems, offices, and streets. This large-scale IoT deployment could help aggregate real-life data and analyze it for a direct improvement of living conditions, better energy management, and sustainability.

 

Big data paired with cloud computing and IoT could reveal unprecedented opportunities for city-wide, and then country-wide, optimization of resources.

 

Artificial Intelligence and Automation

The workplace might never return to its pre-COVID-19 state — roughly 50% of companies expect an increased number of employees working remotely full time.

 

The shift to a largely remote workplace will be a catalyst for new solutions. This will accommodate the demand for tools that facilitate operations. This is where artificial intelligence and automation step in, acting as a salve for a seamless and lasting transition.

 

For example, tasks such as document handling, employee self-service, or other processes that were formerly office-based will be transitioned to remote models thanks to employee experience tools.

 

The emerging forms of automation, e.g., robotic process automation (RPA) or intelligent automation, will be capable of performing tasks together with the employee, as an additional tool, or autonomously to free employees to do more creative tasks.

 

5G and Augmented Reality

The global rollout of the 5G network will open up a plethora of opportunities for B2C and B2B businesses. Even though currently the ROI is difficult to prove, the 5G network is bound to gain traction in 2021.

 

The biggest beneficiaries of 5G connectivity will be the healthcare and manufacturing industry, with other sectors following closely behind.

5G is a key ingredient for technologies relying on ultra connectivity, e.g., edge computing, blockchain, and augmented reality. These technologies — and especially their business capabilities — are growing increasingly more sophisticated and feature-rich.

 

Recognized early by leaders, the disruptive potential of 5G could spur the development of advanced business models across sectors in different industries. This includes fintech, retail and automotive industries.

 

Adopting and experimenting with 5G early on can pay off in the future. This can be done once 5G-enabled solutions have been firmly settled in day to day lives. In this case, the pioneering companies will be well ahead of the competition.

 

Technology Paves the Way to Success

Digital transformation is never an easy task — it requires determination, courage, and willingness to drop the established processes to embrace change.

 

The transition often calls for securing and creating new funding and investment strategies to begin digital transformation efforts. For some companies, digital transformation also means a complete, or at least partial, change in organizational structures.

 

The pandemic has shortened the decision-making process from months and years to a maximum of three months.

 

The fluctuations in the COVID-19 restrictions on social distancing require highly specific and effective board meetings. In this hectic environment, board portals have emerged as secure and convenient tools for rapid decision-making and collaboration.

 

A good digital transformation technology and the right combination of interrelated technology solutions create an unparalleled opportunity for further business advancements.

 

Remote board meetings help boards discuss new strategies for operations, adaptability, and resilience, with technology playing a key role. See how Convene can help you hold effective and secured board meetings.

 

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