Drive Digital Transformation of Enterprises and Seize New Business Opportunities in the Post-Pandemic Era
2020 DATE SUMMIT is the largest event on digital economy in Taiwan this year. In response to the accelerating demand for digital services in the post-pandemic era, a total of 20 heavyweight experts in the field of digital economy from the six countries, including the US, the UK, Germany, Italy, and Japan, were invited to deliver keynote speeches in relays, with digital transformation and business opportunities from 5G application as the main theme, with a view to assisting enterprises in developing digital readiness to gain a place in this new wave of digital economy.
Due to the outbreak of the COVID-19 pandemic this year, the DATE SUMMIT was launched in the form of an online forum for the first time. A virtual forum (https://bit.ly/34l4Wrx) was set up using virtual reality (VR) technology and online live broadcasting, which not only reflected the current digital economy trend but also revealed the theme of the DATE SUMMIT—”Digital New Norm in the Post-Pandemic Era.”
The Epidemic Accelerates the Development of Digital Economy | Digital Power Determines the Key to Success
The DATE SUMMIT organized by the Taiwan External Trade Development Council (TAITRA), the Bureau of Foreign Trade, and Taiwantrade (https://www.taiwantrade.com) has entered its sixth year this year and has become the largest and most influential annual digital economy event in Taiwan. According to James Huang, Chairman of the TAITRA, in addition to COVID-19, the most popular keyword on internet this year is “Digital Transformation.” This pandemic has not only accelerated the pace of corporate transformation but also changed people’s lifestyles, operating models in each industry, and business territory. 2020 is an important year where the global history has been changed. Taiwan has officially entered the 5G era this year. The integration of artificial intelligence (AI) technology and relevant applications will become the main driving force for enterprises’ digital transformation and will usher in a new wave of digital economic growth. Therefore, “DATE” for this year is defined as “Digital A-commerce Transformation Experience Economy.” At this two-day forum, three major topics were arranged for discussion, namely “New Life in Digital Economy After Pandemic,” “Advanced Deployment of Digital Transformation,” and “The Digital Trends of Cloud Economics.” Heavyweight corporate leaders at home and abroad from Siemens, foodpanda, WeMo, iStaging, and XRSPACE were invited to share their first-hand perspectives of their industries to assist enterprises in seizing the opportunity in the post-pandemic era.
New Life in Digital Economy After Pandemic | Every Enterprise Will Be a Technology Company in the Future
Regarding the topic of “New Life in Digital Economy After Pandemic,” Audrey Tang, Digital Minister, Executive Yuan, as well as representatives of Siemens, the European Chamber of Commerce Taiwan (ECCT), Wunderman Thompson, and Boston Consultant Group (BCG) were invited to share their views together. In this discussion, the core of digital transformation lies in whether to think about the future of an organization from a digital perspective. In the past, most enterprises believed that digital transformation was a matter for the IT department, but now it has been upgraded and led by the chief executive officer (CEO).
For a successful digital transformation, an enterprise needs to identify the transformation goals and achieve a consensus from top to bottom. In the process of transformation, it is inevitable to make mistakes. Employees’ mindset and the organization must be adjusted accordingly; as such, digital transformation can improve the efficiency of business operations, and in turn create new revenue. Due to the impact of the pandemic this year, digital transformation is progressing rapidly at all levels of the industry and daily life. Through the connection of the Internet of Things and the collection of big data, the efficiency of urban and industrial operations can be improved, and energy and transportation problems can be thus resolved. The European Union (EU) is implementing the European Green Deal to invest funds to assist member states with the energy transition, with the aim of becoming a pioneer in the development of climate-friendly enterprises.
Advanced Deployment of Digital Transformation｜Identification and Next Step in Mobile Payment
In addition to digital transformation, this pandemic has contributed to contactless business opportunities, including electronic payment and cloud economy. Representatives of Boku, Net Protections, Cherri Tech, NAFCO, and WeMo Scooter shared their business experience in financial technology and the innovative business model of shared scooters on the topic of “Advanced Deployment of Digital Transformation.” Technology has brought more possibilities to payment. For example, the phone bill collection service and e-wallet launched by Boku and the “Buy Now Pay Later” service launched by Net Protections allow consumers without a credit card to still enjoy the convenience of electronic payment, while using the data and credit information collected to reduce the chances for unauthorized credit card charges and to control bad debts for businesses. In the future, with the development of biometrics and identity authentication technologies, we will enter the era of bank 4.0 and can use any valuable asset (currency) to make payments while receiving payments through the VR interface or semantic contents. Data has also driven the emergence of the sharing economy. The largest scooter sharing system in Taiwan—WeMo Scooter—hopes to provide consumers with a better experience through the collection of data on riding habits and scooter conditions, and aims to build smart cities by collaborating with local governments in Taiwan so as to create a better future.
The Digital Trends of Cloud Economics｜Create a Faster and Better Consumption Experience
The discussion on this topic was led by iStaging and XRSPACE, the two major companies in Taiwan’s VR industry, Anello, the world’s only company that presented the AI technology that could analyze the user’s multiple intents, foodpanda, the food delivery leader in Taiwan, and Just Kitchen, Taiwan’s pioneer in ghost kitchen, and they together shared a vision for a new picture of the future world. VR technology has redefined space and distance and has led to a business model, in which “imagination becomes visible.” VR technology can also be adapted to create a social platform, which enables people to transcend the limitations of time and space to meet friends and families online in virtual cities for dining, seeing movies, and traveling in the pandemic era, while allowing enterprises or brands to set up stores on the platform, so as to bridge the distance between people using technology. In addition, AI is applied in semantic recognition to help the food and beverage and the hotel businesses reduce labor costs and provide services that are more in line with customer needs. foodpanda and Just Kitchen have risen with the emergence of food delivery business opportunities; the former has declared a new era of Q-Commerce, service that guarantees arrival within 30 minutes, while the latter has built a cloud central kitchen that integrates big data to prepare ingredients precisely and to identify food preferences in each area, to allow consumers to enjoy the delicious food at home as if served from a restaurant kitchen.
Waves of the digital economy have continued to drive enterprises forward. Digital transformation is not an option but a long-term goal. In times of instability, the adoption of digital marketing will be an inevitable issue for businesses in Taiwan and around the world. As Taiwan’s trade portal website, Taiwantrade will continue to provide the latest digital marketing services and invite leaders in global digital industries for exchange of ideas, so as to spark more creative ideas in business.
What is your definition of DATE? Do you want to learn about the latest trend in the future? We will still have a DATE with you in 2021. Please visit the official website of the DATE SUMMIT for more information https://datesummit.com or visit the VR summit to review the inspiring contents of this two-day event (https://bit.ly/34l4Wrx).
Company Name: Taiwan External Trade Development Council (TAITRA)
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