Digital transformation can unlock up to P5 trillion ($101.3 billion) worth of economic value in the Philippines by 2030 using digital technologies that will enhance business and economic processes.
A study commissioned by Google Philippines and prepared by Singapore-based research center AlphaBeta showed technologies that mitigate the long-term impacts of COVID-19 can generate huge annual economic value in the next 10 years.
“A young, tech-savvy population, like the Philippines’, is increasingly the competitive advantage of the 21st century. The internet economy is already huge. So, growing at 30 percent annually, the Philippines is going to reach $28 billion by 2025,” said AlphaBeta founder and chief executive Fraser Thompson during the launch of Google’s Economic Impact to Philippine Economy Tuesday.
The report explored eight transformative technologies and the robust economic potential they bring to Philippine industries, including artificial intelligence which can be used to drive data-based public health interventions, mobile internet to help digitize retail distribution channels and the Internet of Things for use in supply chain tracking.
