Quisumbing Torres, in partnership with the European Chamber of Commerce in the Philippines, co-hosted the Digital Disruption 2.0: Harnessing Digital Transformation in Driving Business Growth which gathered over 200 government leaders and industry experts and discussed the initiatives necessary for organizations to realize the full potential of digitalization. The forum explored the impact of disruptive technologies on business models across various sectors.
The Firm’s Technology, Media & Telecommunications Industry Group Partner and Co-Head Divina Ilas-Panganiban served as Keynote Speaker. “Conventional business models are under increased pressure for change and no player seems to be immune from disruptive technologies. Governments, policy makers and regulators are equally struggling to grapple with the speed at which technology pervades every aspect of society,” she said.
As an avid observer of how the world carries on transforming, Vina shared 10 things we need to know about digitalization. She explained, “All these points cut across any industry and sector.”
- Digitalization revolutionizes business models.
- Know the key disruptors in every industry.
- Data dominates.
- Digitalization is driving diversification and consolidation.
- Digital platforms are ruling.
- Laws and regulations lag behind technological progress.
- Know the key legal and regulatory issues coming out of digitalization.
- Innovation is a priority.
- Boundaries between sectors are blurring.
- Ethics injecting a human element into technology.
The forum agenda was sectioned by industry sector.
Financial Services / Fintech was moderated by QT’s Financial Institutions Industry Group Partner Alain Charles Veloso who was joined by Hon. Melchor Plabasan (OIC, Technology Risk and Innovation Supervision Department Bangko Sentral ng Pilipinas), Mr. Wee Tee Hsien (Country General Manager, Singapore and Indonesia, Vice President, Digital Services Asia, Iron Mountain), Henry Aguda (Chief Transformation Officer, UnionBank of the Philippines), Mr. JP Palpallatoc (Managing Director and Digital Lead and Intelligent Data and Analytics Group Lead, Accenture Advanced Technology Centers in the Philippines) and Dennis Quintero (Partner, Financial Institutions Industry Group, Quisumbing Torres). This session provided insights on how innovators can explore opportunities in fintech in a more open regulatory environment in order to improve delivery to customers, as well as boost value and growth.
E-Commerce was moderated by Partner and Co-Head of the firm’s Consumer Goods & Retail Industry Group Bienvenido Marquez III. He was joined by Dr. Rafaelita M. Aldaba (Undersecretary, Competitiveness and Innovation Group, Department of Trade and Industry), Mr. Carlos Otermin Barrera (Country Chief Operating Officer, Lazada) and Atty. Luisa Fernandez-Guina (Partner and Co-Head, Consumer Goods & Retail Industry Group, Quisumbing Torres). Among the discussion highlights was the robust consumer spending that has long been a driver of sustained economic growth and how digital developments provide an alternative to the way Filipinos transact versus the traditional brick and mortar retail. At present, Lazada Philippines, an e-commerce platform, has 80 million products, 50,000 sellers and 800 brands, according to Carlos.
Digital Factory and Smart Logistics was moderated by Ms. Amor Maclang (Executive Director, Fintech Philippines Association) and was joined by Hon. BGen. Charito B. Plaza (Director General, Philippine Economic Zone Authority), Mr. Gabriel Lorenzo Santos (Solutions Advisor, Platform & Analytics, SAP Asia PTE Ltd) and Atty. Dranyl Jared Amoroso (Head, Transportation and Logistics Industry Group Subsector, Quisumbing Torres). The speakers and panelists acknowledged that manufacturing and mobility of goods and services are ripe for new ways to increase inventories, enable seamless delivery models in a more precise and efficient manner to achieve business objectives. Jared shared technology and digitization global trends in the logistics sector including blockchain that makes data accessible to all parties in the supply chain, AI that improves fuel efficiency and reduced delivery times, robotics in warehouses that improves cycle times, drone delivery that streamlines last-mile logistics and cloud computing simplifies operational procedures.
E-Health and EdTech was also moderated by QT’s Financial Institutions Industry Group Partner Alain Charles Veloso. Among the panel members were Dr. Raymond Francis R. Sarmiento (Director, National Telehealth Center University of the Philippines – Manila), Mr. Henry Motte-Muñoz (Chief Executive Officer and Founder, Edukasyon.ph) and Mr. Rey Lugtu (President and CEO, Hungry Workhorse). Upskilling, in both academic and professional levels, was identified as vital in overcoming challenges and harnessing through digital platforms was the central theme of this forum’s last session.
The forum was concluded by Dr. Enrico C. Paringit, Executive Director, Department of Science and Technology-Philippine Council for Industry, Energy and Emerging Technology Research and Development. QT’s Intellectual Property Associate Jose Engelo Tiglao served as the day’s master of ceremonies.