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Monday, 23 January 2017

F5 Networks predicts the Asian digital economy of 2020

F5 Networks has unveiled 12 predictions that define the Asian digital economy as we move towards 2020, couched in astrological terms:

Aries
Aries people are courageous, the same qualities that inspire Asia’s liberal approach to technology adoption and innovation

Asia is ahead of its peers when it comes to the adoption and integration of business-centric technologies such as cloud computing1 and big data analytics2. Kuna Nallappan, Senior Director, Marketing, Asia Pacific, F5 Networks, says in a blog post: "We can expect Asia to continue to not only lead but also drive diverse implementation of technologies such as mobile payment, artificial intelligence and Internet of Things. In the next few years, the hypercompetitive environment in Asia will further drive businesses to be more open to new technological trends that will address business challenges and opportunities."

Taurus
Taureans’ sharp and tactical outlook will be reflected through Asia’s strategic investments, especially in functions which focus on customer engagement

"The region’s leadership in mobility and connectivity will unlock key opportunities for these departments to gain essential, real-time connectivity with their customers powered through the means of mobile and applications. Analytics functions will also offer a wealth of big data to help predict customer behaviour and tailor unique products and engagements," Nallappan said.

Gemini
Geminis’ flexibility will be a trait much needed by CIOs as their roles continue to evolve


Under-resourced and under-funded, CIOs' digital strategies will be challenged to keep up with the fast-paced Asian momentum. "By migrating to cloud, businesses’ IT services can be managed centrally and maintained at a lower operating cost, as compared to spending security budgets on hiring a suite of specialty IT personnel to maintain a dedicated, locally-managed security infrastructure,3", Nallappan said.

Cancer
Like the assertive and intuitive Cancerian, companies in Asia will continue getting better at anticipating their customers’ needs

Customer engagement will be basis of all technology adoptions and innovations, which in turn will determine the CIO’s digital investment budget. Nallappan commented, "Today, with the combination of digitally empowered consumers and always-on connectivity, customers' expectations for businesses have changed dramatically. Testament to this (is that) research has shown that applications that fail to deliver a positive user experience risk losing about a third of their customer base for businesses in the region4."

He shared that F5 has been working with companies in Asia to ensure that they are empowered to navigate application delivery challenges by delivering seamless user experience and engagement.

Leo
Just like Leo, the natural leader, Asia’s upcoming leadership will be increasingly involved in shaping IT decisions

With workplace digital strategies transforming all functions of business models, line of business (LOB) units will increasingly take a front seat in technology initiatives in the workplace as they become more involved with business process transformation. According to IDC, close to half of worldwide corporate IT spending will be funded by non-IT business units by 20195.

"As cloud platforms and application deployment become increasingly intertwined among Asian businesses6, another key decision maker emerges – the app developer. With better alignment and knowledge on the end user experience, app developers will work more closely alongside LOB units in shaping a company’s cloud decisions," Nallappan added.

Virgo
In times of economic uncertainty, Virgos’ intelligence and reliability will guide CIOs in balancing agility with prudence

Ranked 6th globally for innovation, there is a pressure for Asia to consistently evolve, innovate and push boundaries, F5 Networks says. The region’s population growth, aligned with emerging business segments, will drive the need for companies to react and address business opportunities and needs.

Libra
A perceptive Libran temperament is what Asia needs to shape its cybersecurity strategy, at a time when the region is increasingly vulnerable to cyberattacks

Mobility has changed the security game. Nallappan cites F5 Networks’ research, which found that 72% of breaches are from attacks on the mobile app. "Data is accessible from devices over which application providers have no control and from locations and networks that are out of their reach. Against sophisticated cybercriminals, a successful security strategy delivers visibility into all application traffic, enhancing a company’s security portfolio with additional layers of intelligence that protects organisations’ most critical assets, identities and applications," he said.

Scorpio
Millennials are perfect examples of Scorpios’ dynamism and ambition

Companies have to re-examine and reinvent themselves to cater to the demands of mobile-savvy Millennials, which in Asia account for almost 60% of the global Millennial population.

"This means the ability to engage and communicate with them anytime, anywhere. With Millennials, it is also all about experiences. Virtual and augmented realities will be prioritised as businesses will look to offer innovative experiences to speak to Millennials who often have short attention spans," advised Nallappan.

Sagittarius
Freedom and flexibility are not just synonymous with Sagittarians: they also reflect the need for agility, security and intelligence in today’s digital economy

More Asia Pacific senior executives are prepared for their organisations to undergo vast digital transformation in the next two years.  While they might be driven by the endless possibilities this digital transformation will bring, they are also well aware of the need to get the fundamentals right.

"These fundamentals will include the need to have visibility into the infrastructure so as to deploy and manage application services more easily, (and) a single platform that accommodates business needs and maximise operational efficiency," Nallappan noted.

Capricorn
CIOs will need to be resourceful like Capricorns to juggle the regionwide IT talent shortage with significant growth in customers’ demand for automation and outsourcing

Sixty-nine percent of CIOs in Asia believe a lack of talent will prevent their organisation from keeping up with the pace of change7.

"Working in partnership with trusted third-party IT service providers will allow CIOs to focus on leveraging new technologies and free up resources to implement these forward-looking projects. The IT talent crisis will also generate a demand for more automation of security through intelligent applications and machine learning," predicted Nallappan.

Aquarius
Inventiveness and an unconventional mindset – the hallmarks of Aquarians – will be key in driving Asia’s telecommunications sector

Fast-growing data consumption and the rising importance of network quality is likely to see competition intensifying in India, Singapore and Malaysia, with new players offering cheaper tariffs to poach customers from incumbents8. Nallappan believes that Asian telcos will need to take "aggressive and progressive approaches to winning market share by supporting the demands of the network without compromising security and performance" as a result.

Pisces
The Piscean talent of adaptability will lead the way in technological disruption

Payment models ranging from mobile to chat apps will be the key pillar of digital transformation in e-commerce, F5 Networks says.

"Today, over a third of online transactions are now is made through mobile, with Asian payment methods such as Alipay driving the strongest growth. Asia is characterised by its highly diversified business models and as consumers continue to seek more seamless and convenient engagements, we can also expect digital payment to consistently reinvent itself," Nallappan said.

Source: F5 Networks. F5 Networks' 2020 Digital Horoscope infographic.
Source: F5 Networks. F5 Networks' 2020 Digital Horoscope infographic.

1 Asia Cloud Computing Association, 2016 Cloud Readiness Index

2 IDC, IDC Research Shows Asia/Pacific Organizations Fast Progressing in their Big Data and Analytics Readiness

3 F5 Networks, F5 Delivers Cloud Application Services Without Compromise

4 CA Technologies; CA Technologies Study Finds that Brand Loyalty in Asia Pacific & Japan has a Six Second Shelf Life

5 IDC, Technology Purchases Funded by Line of Business Budgets Are Approaching Parity with IT-Funded Purchases, According to IDC

6 IDC, IDC Forecasts 70% of Enterprises in Southeast Asia Will Adopt Hybrid Cloud

7 The Harvey Nash/KPMG CIO Study

8 Fitch Ratings: Fitch: Most Asian Telcos to Come Under Pressure in 2017

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