Rezbin clinched the grand prize in the Philippine search for the local KPMG Global Tech Innovator (GTI) during the recently concluded 4th KPMG in the Philippines Innovation Summit at the Fort in Taguig City. Rezbin’s Chief Executive Officer Mari Martirez impressed the judges with how he turned a common dilemma into a strategic and profit-generating enterprise. He is bound for Lisbon in November to represent the Philippines at the KPMG GTI finals.
On its second year, the KPMG Global Tech Innovator 2024 in the Philippines was chosen by an impressive panel of judges including last year’s GTI winner Mr. Nel Laygo, Peddlr co-founder and CEO, along with Ms. Sharon G. Dayoan, KPMG in the Philippines Chairman and CEO; Mr. Ben Alderson, Head of Strategy, Investments and Partnerships, QBO Innovation Hub; Professor Philip Teow Huat Kwa, Clinical Professor and Academic Program Director at the Asian Institute of Management; and Mr. Gil Genio, of the Analytics and AI Association of the Philippines.
Tech Horizons: Unleashing the Future of Innovation
The responsible use of Artificial Intelligence, building digital trust, unlocking the value of digital evolution, and tech sustainability were the hot topics of discussion at the KPMG PH annual Innovation Summit tagged “Tech Horizons: Unleashing the Future of Innovation”. With over a thousand live and online participants, the summit in its 4th year has become KPMG in the Philippines’ annual way to gather emerging tech and business leaders to harness the transformative power of technologies as catalysts of progress and instill the importance of responsibility and sustainability to its use.
KPMG in the Philippines Chairman and CEO Sharon Dayoan welcomed guests and participants comprising tech and business leaders from different industries by reiterating the company’s primary focus on technology and its role in promoting growth for businesses and consequent national development. She revealed that the driving force behind the annual Innovation Summit’s success since its inception in 2021 is KPMG in the Philippines’ commitment to harnessing technology to streamline operations, drive efficiencies and enhance stakeholder experiences, consequently contributing to economic advancements.
Delivering the keynote address, Peter Maquera, CEO of Microsoft Philippines remarked that the integration of AI can significantly enhance the principles of transparency, accountability, and fairness, ultimately improving performance and shareholder value of companies.
Noel Bonoan, Vice Chairman and COO, Head of Advisory of KPMG in the Philippines, in his speech about their digital transformation debunked the perception that people become irrelevant with Artificial Intelligence, saying new jobs will replace the ones that are lost. Bonoan said that technology and innovation, if done right and collaboratively, can catalyze business growth and help with economic development and nation building. This is why KPMG in the Philippines has invested time and resources to ensure a robust and responsive Technology Consulting practice working shoulder to shoulder with their clients in their own digital transformation journeys.
AI Unleashed: Shaping Tomorrow Responsibly
Dr. David R. Hardoon, CEO of Aboitiz Data Innovation and Sr. Advisor for Data and AI of the Union Bank of the Philippines treated the summit participants with a fascinating discussion on the responsible use of AI. He emphasized that if AI is used responsibly, it can augment human capacity by enhancing decision-making processes through data-driven insights. This capability can lead to more informed and accurate decisions ultimately improving shareholder value.
However, he said these advantages will not benefit users if they are not managed responsibly. Companies need to adopt good governance practices to ensure that their AI initiatives are safe and have a positive impact on society. This includes addressing the potential job displacement effects of AI and implementing strategies to support affected employees, such as retraining programs.
Digital Trust: Building Confidence in the Digital Age
Significant security measures are needed to ensure digital trust. It was the bottom line during the first panel discussion tagged “Digital Trust: Building Confidence in the Digital Age” moderated by Mr. Frits Enriquez, KPMG in the Philippines Technology Consulting – Cybersecurity Principal.
According to Dr. Erik Capistrano of the University of the Philippines Diliman, people need to feel confident that their personal information is safe from cyber threats such as hacking, data breaches, and identity theft, and from negligence such as lax practices. Organizations must implement strong encryption, secure authentication methods, and regular security audits to protect user data.
Panelist Dennis Omila, Chief Transformation Officer of Union Bank of the Philippines said being transparent about how data is protected can reassure users that their information is secure. Clear and transparent privacy policies are also essential because users are often wary of how their data is collected, stored and used. Companies should also inform users on the details of data collection as well as provide an opt-out choice to help users gain the confidence to go the digital path.
The discussion also tackled education and collaboration among stakeholders to further reinforce trust and promote digital adoption enabling society to fully benefit from digital enhancements.
Panelist Carlos Tengkiat, Chief Information and Security Officer RCBC said that breaches in security happens because even if a company is careful of its privacy measures, it becomes vulnerable if it works with third party contractors that don’t have the same level of care to one’s data. That is why companies should ensure security measures and protocols and extend its standards to its business partners. It is also vital to address the challenges of educating the consumers to do their part in exercising these data protection protocols.
Sustainability Meets Tech: ESQ and AI in Corporate
Governance Speaker Rafael Dionisio, Co-founder, MAD Travel, Circle Hostel and Director of Lighthouse Legacy Foundation said in his speech that the intersection of sustainability and technology, specifically the integration of Environmental, Social, and Governance (ESG) factors with Artificial Intelligence (AI) in corporate governance, represents a significant development in business practices. This convergence not only addresses global challenges but also improves organizational resilience, stakeholder trust, and long-term value creation.
Transformation to Profit: Unlocking the Value of Digital Evolution
The pandemic era enabled a lot of enterprises to adapt to the need of the market, using ecommerce and multiple channels to expose their products. According to panelist Dennis Velasco, the CEO of Prosperna, digital transformation goes beyond mere automation of tasks, encompassing a holistic rethinking of business models, customer experiences, and internal processes, it also refers to the integration of digital technology in all areas of a business, fundamentally changing how companies operate and deliver value to customers.
Esel Madrid, SVP and Head of Data Science and AI Center of Excellence, Security Bank Corporation, said that leadership makes a huge difference in embracing change like digital transformation. She said that while many organization initiate digital transformation with the goal of modernization, the true value of data and ai is unlocked when business embeds the learnings and translates it into action and measurable outcomes.
Mark Gersava, Executive Cabinet Member, National Innovation Council said that strategic alignment is key in turning digital transformation into profit. By setting clear and measurable goals, organizations can track the impact of digital initiatives. He said the objective of the council is to make sure that the environment is ripe for innovation enabling the improvement of innovation governance in the country and the adaptation of long-term vision. It is pertinent to remove the obstacles in innovation and adapt the regulatory frameworks to support the infusion of digital transformation.
Today, GCash remains a market leader in making financial services accessible & affordable to the masses. A key step to this is establishing a financial identity, which we have made easier with simple full verification within the GCash app. Tek Olano, Chief Financial Officer of GCash, cited the company’s own example of problem-solving expertise in a market that is not well-equipped with financial tech capabilities. Olano stated that if the process is easy, people will adopt it, especially if it offers the advantages of having a financial identity.
Dick Chiang, CEO of Dragonpay, emphasized the importance of studying the market when creating platforms for convenience. By addressing the market’s purchase needs, businesses can drive digital transformation. However, measuring digital success goes beyond transaction numbers; it involves metrics related to customer satisfaction, operational efficiency, revenue growth, and cost reduction.
KPMG in the Philippines and the Exciting Race to Digital Transformation
With another Innovation Summit concluded and a new Global Tech Innovator in the Philippines proclaimed, the firm celebrates the agility and optimization that innovation brings to businesses not just in the Philippines but worldwide. Its annual pursuit of a GTI continues to celebrate innovators for being a guiding light in the race for digital transformation where everyone is going at their own individual pace and merits.
KPMG in the Philippines is always committed to provide insight and guidance tailored to meet organizations in whatever stage of their digital transformation. It remains to be one of the most trusted professional services firms in the country, providing audit and assurance, tax, advisory and tech consulting services.
