The digital transformation of businesses could create up to PhP5 trillion in annual economic value by 2030, a new Google Philippines-commissioned report finds.
Of this value, PhP3.5 trillion could come from technologies that help businesses mitigate the economic impacts of the COVID-19 pandemic and future similar events.
Key findings from the report include:
- Businesses derive 363.4 billion pesos in annual benefits from Google tools and services, through increased revenues, millions of connections with customers and greater efficiencies, saving time and money;
- App developers in the Philippines earn 384 million pesos in annual revenue through Google Play, reaching over one billion users globally;
- Consumers receive 214.5 billion pesos in annual benefits by experiencing greater convenience, access to information, and enhanced productivity. Search saves users almost five days a year; and
- By enabling businesses to unlock new revenue streams and expand their businesses through the use of Google Ads, AdSense, and YouTube, Google indirectly supports over 110,000 jobs in the Philippines
This could be a game-changer for the Philippine economy, as the country is still hard-struck by the global health situation and has lagged far behind other nations.
Prepared by economists at AlphaBeta, the report explores eight transformative technologies and the robust economic potential they bring to Philippine industries.
This includes Artificial Intelligence (AI) which can be used to drive data-based public health interventions, mobile internet to help digitize retail distribution channels, and the Internet of Things (IoT) for use in supply chain tracking.
To fully realize and unlock the opportunities presented by digital transformation, the report has identified three main pillars of action the Philippines could take: enhancing digital skills training and education, accelerating digital adoption and innovation, and promoting digital trade opportunities.
There exists a huge potential for the Philippines, and a lot of positive work has already been done in this area within the last year.
The Department of Trade and Industry (DTI), through its secretary Ramon Lopez is wary of the important role digital transformation plays when it comes to the country’s economic recovery post-pandemic.
Which is why Google and the DTI have been digitizing small businesses through its Micro, Small and Medium Enterprises (MSME) Caravan campaign for the past two years, being able to train more than 46,000 MSME business owners and employees.
In fact, Google’s tools and services are already helping the Philippine digital economy, as local business, consumers and the wider society derive over 578 billion pesos in annual benefits through increased revenues and millions of connections online.
One of the businesses that benefited from the digital training workshop is Germano’s Chilli which continues to thrive until today.
Germano’s Chilli started in 2008 to recreate the experience of eating chili garlic from restaurants to people’s homes. The concept was fairly new at that time and the business struggled with brand awareness.
Owner Gerome Panlilio then took a Google Philippines-hosted seminar in 2018 to get himself acquainted with features such as Business Profile (formerly Google My Business) on Google Search and Maps, as well as vital knowledge and tools.
This enabled his products to be searchable online, which led to more revenue. Before the pandemic, Germano’s Chilli’s online sales only peaked at 3 percent, but in the past year and a half, it increased to 15 percent.
Digitizing is the way to go
Google Philippines is aiming to aid more businesses like Germano’s Chilli, creating a world that supports digital freelancing and accelerates the shift towards digital payments to let go of disruptions to business operations.
Providing business such access to global markets and equipping them with the necessary digital capabilities to expand reach, business will be able to manage the long-term economic implications of the COVID-19 pandemic.
Netflix co-founder Reed Hastings steps down as CEO
Names new successor
Netflix’s 2022 was rocky, to say the least. After dropping long-time subscribers for the first time in a while, the streaming platform has resorted to a variety of strategies to entice users to stay. While only a few of the new initiatives have resulted in positive change, the company is still on its uphill climb to regain its position atop other streaming giants. Now, Netflix is moving towards more drastic changes.
As revealed by the platform’s quarterly earnings, Netflix co-founder Reed Hastings has stepped down as co-CEO of the company. However, Hastings will not completely leave the company. Instead, the co-founder will assume the role of executive chairman, leaving Ted Sarandos and the newly appointed Greg Peters as co-CEOs.
Currently, neither Hastings nor Netflix has revealed why the former is stepping down from the position. Of note, the platform even posted a growth in subscriber count for the past quarter. Netflix added 7.7 million new subscribers, eclipsing a projected growth of only 4.5 million subscribers. At the very least, Hastings has confirmed that he wants to work on share value and philanthropy going forward.
Last year, Netflix added new ways for users to engage with the platform. Now, besides watching movies and series, subscribers can play a gallery of mobile games. Users can also avail themselves of cheaper subscription plans supported by ads.
SEE ALSO: Netflix expands sports lineup for 2023
Apple is preparing to open its first stores in India
Based on new job listings
For one of the largest smartphone markets in the world, India is one of the rarer countries where Apple does not outright dominate. Undoubtedly, the company is trying to change that. Ongoing job listings in India are suggesting that Apple is ready to open its first brick-and-mortar store in the country.
First reported by Financial Times, Apple has posted job openings in India for several retail roles including for the iconic Genius Bar. Another clue even indicates that some spots have already been filled ahead of time. A few employees in the country have reportedly posted about their new jobs on LinkedIn.
Unfortunately, none of the job listings show how many stores are planned and where they will be. Narrowing things down by a bit, a few of the confirmed employees are from Mumbai and New Delhi. The report also does not indicate when the stores will open. However, since a few have already been hired, a grand opening might be coming soon.
Apple has a lot to gain by strengthening its foothold in India. The country is an important stronghold for smartphone companies. However, the company might find things harder as time goes by. The country recently dictated that brands must switch to USB-C if they want to sell their devices in India. All over the world, Apple remains the last stalwart against adopting the more universal standard.
Samsung hires Mercedes-Benz alum to head design team
Will handle Galaxy S, Galaxy Z, among others
Outside of the arms race of maximizing hardware, another important battle is the persistent evolution of design. A friendly and approachable design just adds the necessary pizzaz to make an otherwise bland device pop off the shelves. Pushing the next evolution of design for the brand, Samsung has hired a Mercedes-Benz alum to head its Mobile eXperience Design Team.
Today, Samsung has announced the hiring of Hubert H. Lee as the head of the MX team, which handles Samsung’s most popular designs. Formerly, Lee was the chief design officer of Mercedes-Benz China. During his tenure as the carmaker’s designer, Lee spearheaded several projects in both China and the United States. He also bagged awards at his former position.
Now, as part of the Samsung MX team, Lee is in charge of the designs of the Galaxy S, Galaxy Z, and Galaxy Watch series. Given the timing of Samsung’s usual product cycles, Lee’s contributions will likely affect the Galaxy S24 series, rather than the upcoming Galaxy S23 series. Samsung is already pegged to launch the next flagship series sometime in early February.
Still, a new design head sparks some optimism for the South Korean brand. The effect of brilliant design is remarkably palpable for tech companies. For example, Samsung’s primary rival Apple still relies heavily on the contributions of its former design chief, Jony Ive.
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