ASEAN is emerging as one of the fastest growing mobile-first economies in the world, easing the transition for companies within the region to conduct remote operations amid the COVID-19 pandemic.
This was found by a study by Cisco and Jungle Ventures entitled Emerging Disruptors from the Global Pandemic which looks at the transformation of essential services in the region during COVID-19 and the models of successful disruptors.
The study also revealed that the rapid digitalisation of Asean’s essential industries such as education, healthcare and supply chain logistics has opened new possibilities for digital disruptors.
“COVID-19 has demonstrated our inherent human capacity to innovate at scale and with speed, when faced with disruption. Some of the hardest-hit sectors at the start of the pandemic, like education, healthcare and supply chain logistics, were able to re-imagine the future, implement innovative strategies and adopt an entrepreneurial and resilient mindset,” Cisco (Asean) president Naveen Menon pointed out.
“We are now seeing large waves of innovation emerging which will cater to this new reality.”
The study also showcased how changes in the global economy have contributed to the emergence of startups transforming and adapting industries and disrupting organisations.
On this, Jungle Ventures founding partner Amit Anand said: “Business disruption can trigger innovation and many startups in Asean countries have been at the forefront of this digitalisation shift to fill the gaps and capture new opportunities that emerge.”
When it comes to the education sector, the COVID-19 outbreak caused the shutdown of most schools and learning institutes, disrupting billions of students globally. Adapting to those challenges, the teaching process quickly moved online.
While students seemed to have no problems with the new way of learning, the unprecedented scale of the shift made it challenging for teachers to adapt.
Due to this, the report found that there are many companies that have yet to venture fully into blended learning and the virtual learning experience.
The need to adopt digitalisation is more dire for the healthcare industry, pushing healthcare professionals and industry players to continue adopting and leveraging on digital technologies even after the world has won its fight against COVID-19.
However, the report showed that the management of Malaysia’s rising public health system, prolonged life expectancy and the increase in non-communicable lifestyle-related diseases will continue to be a major challenge for health authorities to move forward.
On the bright side, all these changes have the potential to shape a new normal in healthcare where technology-enabled primary and preventative care delivery models will emerge as game-changers in the long term.
As for the supply chain and logistics industry, the study recommends building the right business and strategic workflows to help resolve issues on the management side.
In fact, a number of the key technology players changing the logistics market are those offering digital procurement solutions through a valuable and seamless combination of software and services. – Dec 24, 2020
