The Philippine digital economy has tremendous growth potential as businesses adopt digital tools and Gen Z drives innovation, but achieving the country’s digital ambitions will require collective action from key stakeholders.
This was highlighted by Globe Chief Commercial Officer Darius Delgado during the fireside chat on “Paving the Path to a Digital Philippines” at the recent GSMA Digital Nation Summit Manila.
A robust foundation for a thriving digital economy
Over the years, the Philippine telecom sector has built a formidable infrastructure that bridges the digital divide and promotes digital inclusion. To date, it has connected more than 6 million customers via postpaid broadband and more than 120 million via wireless networks, enabling a digital ecosystem with 87 million online users.
This connectivity has enabled digital services such as GCash, which supports more than 90 million Filipinos, including 6 million merchants and social merchants. In addition to key partners, GCash also offers opportunities for job seekers to increase their income through the GJobs platform and gigs listed on the platform, as well as digital payment tools for entrepreneurs.
According to the Philippine Statistics Authority, the digital economy will have contributed PHP2.08 trillion in economic value in 2022, equivalent to 9.4% of the national gross domestic product (GDP).
Amid such successes, Delgado emphasized the need for partnerships to fully realize the benefits of the digital economy, noting that no single telecom company can meet the challenges or opportunities alone. Building a robust digital ecosystem requires shared investments, regulatory support and coordinated efforts.
By working together, the government and private sector can accelerate infrastructure development, promote digital literacy and create an environment where technology drives inclusive economic growth.
Gen Z and B2B as catalysts for growth
With an average age of 24.8 and 42 million Generation Z population, the Philippines has a unique opportunity to tap into the energy and innovation of its youth.
“Over the next five years, we estimate that approximately 11 million new customers will join the mobile base, entering the highly saturated market with a mobile-first mentality. This offers enormous opportunities in the consumer sector,” said Delgado.
In the business-to-business (B2B) space, he identified significant opportunities among enterprises, which are slower to adopt digital solutions than consumers.
“A lot of awareness and education needs to be built on how ICT and certain business solutions can help make their operations more effective, efficient and ubiquitous, so that they can fully realize the potential of their business and improve customer satisfaction. experience,” he said.
Embracing AI and cybersecurity
Delgado also emphasized the importance of Artificial Intelligence (AI) in the Philippines’ digital journey, saying, “You must leverage the AI curve or you will fall behind. But it is also our belief that GenAI itself will not replace people, but that people skilled in GenAI will replace those who do not use GenAI.”
Globe is actively preparing for an AI-driven future by investing in critical digital infrastructure, such as data centers, while prioritizing the continuous upskilling and training of its workforce to ensure the responsible use of AI technologies.
On cybersecurity, Delgado emphasized the importance of trust in the digital age. “The most important currency today, given all the digital scams, security and cyber attacks, is trust. Whatever you offer to the customer, everything disappears if you are not a trusted brand,” he said.
Globe has strengthened its cybersecurity controls to limit potential threats, although some technologies can still circumvent existing measures. In response, the company is working with GSMA to strengthen industry-wide standards and push for stronger regulations against digital scams.
A better future for Filipinos
Delgado reaffirmed the telecom sector’s commitment to progress and highlighted its role in addressing societal challenges in healthcare, education and financial inclusion through technology.
“We are on the eve of a digital transformation. This means that we now have a greater responsibility as telecom companies to promote the growth of the industry and ensure that the bright future that every Filipino strives for becomes a reality,” he said.
Through sustained collaboration, innovation and investments, Philippine telecom companies aim to empower businesses, build on the strengths of Gen Z and ensure inclusive progress in the digital age.
For more information about Globe, visit www.globe.com.ph.
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