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A Future In ASEAN: Technology and Digitalisation in ASEAN
July 9 @ 11:00 am – 12:30 pm UTC+8
Technology presents a plethora of opportunities for ASEAN countries to grow. At the heart of it is the desire to improve people’s lives, through the creation of innovative goods and services, and also quality jobs. One area of technology which is relevant in this regard is digitalisation, which has made processes easier than before. For example, digital payment is increasingly becoming more popular among people compared to cash payment. This much has been the case in ASEAN countries, with multiple studies showing that the use of such payment modes has increased over the years. In fact, one projection by Google, Temasek Holdings and Bain & Company suggests that ASEAN’s online spending could exceed US$1 trillion by 2025, up from US$600 billion in 2019.
Even as digitalisation becomes more prevalent in the ASEAN region, there also exist attendant challenges. One of them is that different segments of society might lag behind in the digital push owing to various social and economic factors. This has been observed in small and medium enterprises, with the Organization for Cooperation and Economic Development reporting “millions” of them facing substantial difficulties in tapping on digitalisation for their benefit. Another is cybersecurity. The potential consequences of successful cyberattacks (e.g. impairment of key economic services) have compelled transnational responses from ASEAN countries, such as the release of a common cooperation strategy earlier this year.
As we look to the future, it perhaps sounds inevitable that ASEAN will be a much more tech-driven region. A priority would thus be to seize technological opportunities to improve ourselves and societies, especially through digitalisation while managing the challenges which flow from it. Naturally, many questions will be raised: is it challenging and costly to digitalise? What are new technological trends which we could benefit from? And how could we create solutions to overcome digitalisation barriers? Join us as we hear experienced industrial professionals share their opinions as part of our forum on A Future in ASEAN – Technology and Digitalisation on 9 July 2022, from 11 am to 12.30 pm, via Zoom.