THE improving partnership between Philippine businesses and Huawei has introduced cutting-edge technology trends and a road map that will help enhance peoples’ lives and enable the country achieve growth with their application across all verticals.
Huawei Cloud and Artificial Intelligence (AI), as well as a detailed plan that will be beneficial for nation-building and the empowerment of all Filipinos were launched at the recent “FinTech 2021 Philippine Outlook: The Key to Unlocking the Economy Post-Covid” webinar that was co-located during the last leg of the virtual World Fintech Festival (WFF).
“Huawei has always been keen to assist enterprises as they scale up and evolve to their next stage,” said Neo Teck Guan, senior director for cloud strategy and consulting at Huawei Cloud Asia Pacific Region. “With our cloud services, we have been able to provide some great experiences to different companies in several sectors. We believe cloud solutions should be accessible to everyone, and at Huawei we are working relentlessly for the benefit of our partners with our latest technological innovation.”
Individuals and enterprises are becoming more adoptive of digitization as seen in the spike in their daily transactions and other online activities amid the Covid-19 pandemic.
Citing a recent study, WFF Philippines Convener and Fintech Philippines Association Executive Director Amor Maclang revealed that 87 percent of its respondents now prefer cashless transactions and digital payments given the ongoing government-imposed lockdowns and work-from-home arrangements.
She added the research by Google, TEMASEK, and Bain & Company that shows 95 percent of Filipinos who have tried digital services for the first time will continue to use them once this crisis is over.
“We foresee this momentum and collective interest in digitization accelerating in 2021, especially as our economy recovers,” she said, while citing that the Philippines remains a fintech hub in Asia.
“Despite the pandemic, our Internet-fueled economy or e-conomy stands at a strong $7.5 billion, which is projected to reach $28 billion in five years’ time. Its growth rate is at a resilient 55 percent, with HealthTech and EduTech emerging as among the most promising verticals. As we enter the new year, there are opportunities awaiting us after the crises, and partnerships like the one we are forging with Huawei can help Philippine businesses leverage on them for a full national economic recovery.”
The global leader in technology, she noted, can help realize this “given its experience in matching and merging appropriate technologies like the cloud and AI with various industry verticals. In partnership with its homeland, the People’s Republic of China, Huawei has been instrumental in the transition of many traditional industries in Asia into the digital arena. They are nurturing and developing what we call the Asia tech generation.”
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