Digital transformation is about reimagining how organizations bring together people, data, and processes to create value for their customers and maintain a competitive advantage in a digital-first world. Technology is at the center of this transformation.
Digital Transformation to Contribute More Than US$1 Trillion to Asia Pacific GDP by 2021
By 2021, digital transformation will add an estimated US$1.16 trillion to Asia Pacific’s GDP, and increase the growth rate by 0.8% annually, according to a new business study released today. The research, entitled “Unlocking the Economic Impact of Digital Transformation in Asia Pacific”, produced by Microsoft in partnership with IDC Asia/Pacific predicts a dramatic acceleration in the pace of digital transformation across Asia’s economies.
In 2017, about 6% of the region’s GDP was derived from digital products and services created directly through the use of digital technologies, such as mobility, cloud, Internet of Things (IoT), and Artificial Intelligence (AI). This is expected to surge to around 60% of Asia GDP by 2021.
Ralph Haupter, President, Microsoft Asia shares that digital transformation is now widely acknowledged to bring forth competitive advantages to businesses and even nations.
He also shares three areas where CEOs need to focus on in order to transform their organizations successfully in a new AI-driven digital world.
Transforming with Customers
Around Asia, Microsoft’s customers are embarking on innovative digital transformation initiatives that are making an impact on their businesses and their respective industries. Learn more about their journeys and be inspired by their approaches.
Ricacorp Properties Limited – A Hong Kong Real Estate Company Uses AI to Understand Customer Desires and Increase Earnings
The Hong Kong real estate market is one of the most competitive in the world. Agencies compete to sell the hottest properties in the shortest time possible. Ricacorp Properties Limited foresees earnings to rise by 30-40 percent and profits to increase by 40-50 percent through using Artificial Intelligence to understand customers’ property desires. Sometimes even better than customers themselves know.