Category Archives: digital business

What’s Next 2018 – Conference – Kuala Lumpur (Malaysia) – 30 August

malayDigital News Asia and EY are excited to invite us to What’s Next 2018: The Business Impact of Digital Disruption.

It is clear that Digital is the Mega Trend of our times with both life and work increasingly shifting to Digital services. And if you needed more proof of this – Jeff Bezos of Amazon has just become the wealthiest human in history with a net worth exceeding US$150 billion. That is RM600 billion. And who is to say that Alibaba’s Jack Ma won’t catch up with him one day?

Both their successes have come from capturing market share from Brick & Mortar companies that are slow to adapt to this new reality. And that is the focus of What’s Next. First launched in 2015, What’s Next has established itself as the leading Digital conference in Malaysia, which focuses on what Brick & Mortar companies are doing to prepare themselves for Digital Disruption.

What’s unique about What’s Next is that we focus on bringing you the experiences and sharings of large Brick & Mortar companies about what is working for them and what is not. From having guest speakers the likes of Tan Sri Tony Fernandes of AirAsia and Tan Sri Vincent Tan of Berjaya Corp to leading banker Raja Teh Maimunah, past conferences have been rich and real with sharings from CEOs.

This year, we have Henry Tan, CEO of Astro Holdings Bhd, as one of the speakers who will share what their companies have been doing to prepare and not just defend their markets, but also seize the opportunities that Digital Disruption is creating as well.

Besides Tan, we also have the CEO of Asia Pacific University, Dato’ Dr Parmjit Singh, who will talk about how a High Touch Business deals with Digital Disruption. Speakers aside, there will also be some excellent breakout sessions, including an opportunity to experience the power of Virtual Reality set in a retail scene. This will give you a real feel for how retailers will soon be using technology to enhance the shopping experience.

Schedule include Panel Session: 3 Things Malaysia Needs To Do To Accelerate Its Digital Economy

GSMA Mobile 360 Series – Russia & CIS: Empowering the Digital Economy

GSMA Mobile 360 Series – Russia & CIS is a regionally-focused event drawing on global case studies for senior-level leaders from government & regulatory bodies, the international ICT industry and other economic sectors to address the implementation of the region’s digital economic plans (Moscow, Russia on 30-31 October 2018).

As one of the world’s largest mobile markets, the launch of GSMA Mobile 360 Series – Russia & CIS has arrived at a critical time for the digital development of the Russia & CIS region.

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The pervasive nature of mobile continues to create new opportunities for extending the benefits of digital around other industries. Now is the time for the whole ecosystem (including government, regulators, mobile operators and adjacent sectors) to recognise the role technologies such as Artificial Intelligence, Digital Identity, IoT and 5G play in driving the digital transition and increasing consumer engagement.

From the organisers of Mobile World Congress Barcelona, GSMA Mobile 360 – Russia & CIS is a regionally focused event for senior-level leaders from government & regulatory bodies, the international ICT industry and other economic sectors to address the implementation of the region’s digital economic plans.

Day one features a forward looking and balanced agenda of keynotes, panel discussions and global case studies focused on the theme: Empowering the Digital Economy. Day two is comprised of half-day conference presented by Huawei as well as a variety of side meetings presented by GSMA.

Register to attend event at www.mobile360series.com/russia-cis

Workers feel unprepared to get jobs in the digital economy (Australia)

Australians earning under $50,000 a year, that are single, aged 40-49 or did not complete high school are most concerned they’ll be out of a job in the new digital economy, but the majority are not doing anything to learn new skills.

A new study from MYOB, presented at The Australian Financial Review Innovation Summit, indicated that 28 per cent of respondents felt “totally unprepared” for the tech-driven changes to the workforce, while only 16 per cent of people felt completely prepared.

“[It’s] been well documented by the OECD is that the relative value of different parts of the value chain is changing. What they’ve commented on is the components at the start of the value chain and end are worth more now than they were in the past and those in the middle are worth relatively less,” Mr Reed said.

“In particular the design and research and development and marketing and services component have lifted in their share of the overall value of the value chain and the logistics and manufacturing are down.”

But overall, Mr Reed was bullish that Australia was positioned well to benefit from this shift in value in the supply chain.

“This is very good for Australia as a small, educated open economy participating in global supply chains. This enables us to focus on the areas that are high value-add, if we have the skills across our workforce to be able to do that,” he said.

The respondents in the MYOB survey rated problem solving, digital security, collaboration, digital data and digital design skills as the most critical for workplaces of the future.

These skills matched up with those identified in a study by local economics firm Alphabeta last year, which found interpersonal, creative, decision making and information synthesis abilities would be critical to the digital economy.

Despite the majority of respondents not being able, or willing, to invest in their own upskilling, Mr Reed said the fact there was alignment in the knowledge of what skills would be needed was cause for optimism.

“I’m really optimistic about the future. I’m far more concerned about the lack of artificial intelligence having the productivity drivers we need than the fear of destroying jobs.

“This data gave me more reasons to be optimistic because the skills that are the high value skills and are needed by companies are seen to be needed by the individuals in Australia. There’s no mismatch in information.

“What we’re not doing enough of is building those skills in individuals.”

Mr Reed proposed that Australia needed to rethink its education models, backing Business Council of Australia chief executive Jennifer Westacott’s idea for a government lifelong learning fund, an impetus in more industries for continuous learning like what occurs in medicine or accounting, as well as more employers being willing to fund employees to undertake new qualifications in exchange for loyalty.

MYOB has implemented a program in which it brings mature-aged women into the business and spends nine months training them to the level of an undergraduate in computer science, on the condition that they agree to work for the company for a set period of time afterwards. This is helping the company tackle gender equality in the tech industry, while also letting it identify new talent.

“That model where there is an implicit investment in skills and also an appreciation from the individual regarding the return on that investment, that’s something we’ll see more of.”

Despite this, over half of the 500 the respondents surveyed said they were not financially prepared to invest in updating their skills and 47 per cent admitted they were not doing anything to update their skills, not even reading leadership books or listening to webinars, let alone undertaking a course.

MYOB chief executive Tim Reed said the Australians most fearful of the shift to the digital economy were those that typically doing roles in the middle of the “value chain”.

source: www.afr.com

Business meets data science at the Digital Economy Summit in Rotterdam

Industry and business professionals joined academics in digital business and data analytics at the Digital Economy Summit in Rotterdam on 20 June. The community of innovators gathered to explore digital phenomena and data analytics research – and their applications in the business world – at the event organised by Rotterdam School of Management, Erasmus University (RSM) as an initiative of the forthcoming .

Invited speakers and panellists from diverse professional backgrounds contributed their expertise on the data revolution and its implications for business strategies. The Summit was a full day of presentations, panels, and discussions to explore digital business, digital strategy, business analytics, artificial intelligence, digital experimentation and privacy. The Summit concluded with the inauguration of Ting Li as Endowed Professor of Digital Business at RSM.

Prof. Eric van Heck gave a welcome address. He emphasized the interdependence of academic research and the role of businesses in applying it for positive change. “Businesses use innovation, which is found through research and science, for real-world impacts,” he said. As Chair of RSM’s Department of Technology and Operations Management, Prof. Van Heck notices a response to the data revolution among his students. “Years ago, many students would avoid working with data analytics and algorithms. But now, we see a growing trend of students asking for these courses because the job markets are asking them for these skills – it is a growing expertise!”

Data-informed business strategies

Professor Rob Kauffman from Singapore Management University presented his research of the living analytics revolution; how people leave digital traces of what they have been doing, and how data scientists can make meaningful inferences using this information. He illustrated the impact of smart analytics in large data sets, potentially revealing ‘digital canaries in urban data mines’, the subject of one of his research papers.

Prof Kauffman reminded participants that “companies are not the central nodes in society” when referring to how businesses can create better impact. He suggests that there is an increasing demand for data-informed business strategies that reflect society’s needs, likening this to the current need for evidence-based policy-making in EU politics.

Good data science from good data science teams

“Private business is also driving that next wave of innovation,” says senior data scientist Adam Hill of data intelligence lab HAL24K, referring to the opening address. Hill discussed the use of analytics in digital business and what makes good data science. Data science “derives actionable insights to improve business,” he said. He refers to methods such as machine learning and real-time data and decision-making to illustrate their uses in examples like predicting air pollution, optimizing traffic flow, and public bike distribution. At the end of his presentation, he advises that an excellent data scientist should possess “a diverse collection of skills that cover statistics, programming, databases, communication and business domain.” Good data science comes from building data science teams, he said.

“We are at an inflection point for data-driven management,” says Prof Ravi Bapna of Carlson School of Management at University of Minnesota. His presentation highlighted the challenges of using data analytics in business. He argued that there are three main challenges:

  1. executive-level awareness of the art of analytics
  2. a shortage of talent
  3. organisational muscle and capabilities.

“Analytics ‘translation’ [into business strategy] is by far the biggest deficiency [in companies],” argued Prof. Bapna. To tackle these problems, he offered an organisational learning plan that consists of a test-and-learn culture, gaining experience with large-scale data processing, and moving from point optimization to end-to-end-process optimization using audio-visual and language processing.

Eight weeks from idea to market

John Staunton, CEO of Countr POS, an online retail Point of Sale platform, presented case studies of businesses and their use of AI, machine learning, and behavioural analytics. One case study of supermarket chain Spar’s introduction of cashier- and POS-less purchasing system showed that relying on mobile, self-serve, and digital payments, machine learning learns to personalize the customer’s in-store experience. It can take as little as just eight weeks from idea to market, Staunton suggests, and this is how digital business should embrace the analytics revolution. Echoing previous speakers, he underlined the importance of collaboration within business analytics as “nobody is an expert at everything [and] closed ecosystems do not work.”

Learn to manage new technologies

Senior Associate Dean of Fox School of Business at Temple University, Prof. Paul Pavlou highlighted the foundations of digital business strategy and offered an illustration of its trajectory. Referring to recognizable phenomena such as digital platforms, AI, and the Internet of Things (IoT), Prof. Pavlou offered a prediction of the rise of Future and Emerging Technologies. As digital business advances into the Fourth Industrial Revolution, “sophisticated technologies are likely to emerge, such as nanotechnology, new materials, biometrics, and quantum computing.” He advised that learning to manage these technologies would allow for “sustained competitive advantage.”

The ethics of data analytics for privacy and data sovereignty

Moderated by RSM’s Prof. Peter Vervest, the Digital Economy Summit concluded with a panel of data experts from business and academia: Jan-Kees Buenen of SynerscopeMartijn Imrich of XomniaDr Nelson Granados of Pepperdine University; and Prof. Rajiv Garg, of University of Texas at Austin. The interactive discussion addressed questions from participants, and insights and opinions from audience members were welcomed.

The panel tackled the debates surrounding co-creation in the era of big data. An intricate discussion towards the end of the session addressed the ethics of data analytics for privacy and data sovereignty. Prof. Garg dove deeper into this question and raised issue of bias of machine learning and AI for social groups such as nationality, race, and socio-economic status. An argument offered was that it is not the tools themselves that carry these biases but how practitioners program them. Panelists, supported by various participants in the audience, agree that such flaws do not invalidate the pursuit of data science; on the contrary, it is motivation to direct further cross-sector research to confront this issue.

source: www.rsm.nl