APAC needs to unearth value in business data, and quickly

While the region is still in the early stages of its digital transformation journey, its commitment to harness the power of business data suggests that a more connected and resilient Asia-Pacific business environment is well within reach

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IN a rapidly digitising global economy, businesses in the Asia-Pacific region are increasingly recognising the critical importance of digital transformation, not just as a tool for operational improvement but as a necessity for future competitiveness.

But despite that the region's businesses are still grappling with how best to unlock the full value of their business data and overcome persistent barriers to digital maturity.

A new survey reveals that while digital ambition is high, the reality of implementation continues oto lag.

The Reuters report, 'Digital transformation in Asia-Pacific: A region still undertaking the journey', surveyed 2,217 professionals in the region.

It highlights both the scale of the challenge and the opportunities available as digitalisation reshapes industries across the region.

It found that 73 per cent of respondents believe digital transformation can deliver productivity gains, while 64 per cent see it improving product quality by allowing a sharper focus on core activities.

Despite this, only 53 per cent of companies are fully leveraging their business data, with 40 per cent admitting to partial use and others hampered by outdated systems, skill shortages, and vendor limitations.

UNTAPPED BUSINESS DATA

The survey shows 68 per cent of respondents acknowledge the value of their business information, yet much of it remains untapped, trapped in paper records or poorly integrated systems.

This underutilisation is particularly concerning in a market environment where artificial intelligence (AI) is redefining operational efficiency globally.

The US tech giant Meta, for instance, plans to invest $65 billion in AI infrastructure this year alone, while global AI infrastructure spending is forecast to surpass $200 billion annually by 2028.