Digital technology and the micro-entrepreneur

Without fail, in every major meeting and business gathering I have attended lately, the subject of digital technology always came up.

- JOEY CONCEPCION

Often, it is the focal point of the event, such as the recent Digital Financial Inclusion Awards, at the meeting with the ASEAN Secretariat led by Sec. Gen. HE Dr. Kao Kim Hourn, at the SM Job Fair + Skills e-Hub Holiday Career Fest and at our Go Negosyo BalikBayan Summit.My area of concern when it comes to the discussion of digital technology focuses mainly on two things: MSMEs and the workforce, specifically, digital technology’s impact on them.

Digital technology will be at the forefront of top-level discussions next year. This is because next year, during the Philippines’ chairship of ASEAN, artificial intelligence (AI) and the expected conclusion of the ASEAN Digital Economy Framework Agreement (DEFA) will be among the top issues seen to dominate discussions. The DEFA aims to accelerate ASEAN’s digital transformation, further boosting the region's goal of regional economic integration. What I noticed lately, though, is that more and more, AI has come to the top of the agenda.

The expressed commitment to driving ASEAN’s transition into a digitally empowered community brings hope to forward-thinking MSMEs. Digital technology presents an extraordinary opportunity for them. AI can streamline customs and logistics across ASEAN borders, dramatically reducing the time and cost for our small exporters and importers. It can empower small businesses to compete effectively in a global marketplace. Digital platforms, e-commerce options and cloud services are increasingly accessible, helping businesses that have traditionally found it hard to compete. AI offers crucial insights into customer behavior and preferences ~ information that has the power to enhance operations, develop innovative products and improve services.