Asia's Digital Appetite
According to experts in McKinsey, Asia is grabbing the opportunities available from digital to try and leapfrog traditional economic leaders in the west and compensate for historic lack of investment in infrastructure. They single out India, Indonesia and China as the countries with the most energetic approaches and the most innovation. They cite greater appetite for social media take up and openess to mobile and other new technologies as drivers to greater innovation.
This position is supported by Gartner's identification of Asia's 10 leading digital disruptors:
- Tencent
- AliBaba
- Baidu
- Ant Financial
- JD.com
- DiDi
- Xiaomi
- Yahoo Japan
- Naver
- Lufax
The interesting fact about this list is that it is dominated by Consumer oriented businesses. B2B opportunities are yet to be exploited. Even so, the power house that is AliBaba is reputed to dwarf western giants such as Amazon. So Asia is currently playing to its numbers and culture to establish scale.
Garnter recommends that western enterprises operating in Asia should consider adopting local platforms to guarantee penetration and better customer experience in Asian Markets.
Future Digital Directions in Asia
A recent survey of global CIOs by Logicalis showed that CIOs in the Asia Pacific area have been disappointed by slow progress overall in adopting digital business models. Like CIOs in other parts of the world they have seen typical barriers such as Organisational Culture, Scale of Investment, Legacy Infrastructure, Skills and Security holding them back.
However, overall they are typically planning to address them with moves to simplify and modernise infrastructure, work closely with other business colleagues to address specific opportunities, improve training, invest in culture change and generally increase security investments.
In doing so, they are preparing to lead change and more B2B services are likely to emerge, balancing Asia's digital economy.
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