Asia-Pacific is a prominent location for creating and deploying new technology, as it is home to some of the world’s most innovative countries. Asia filed 85 percent of all patent applications in 2017, with Korea, China, and Japan filing the most patents per unit of GDP. The region has increased innovation and productivity, influencing technological advances in critical sectors like Japan, ASEAN, and China’s Greater Bay Area (GBA). The GBA is of particular interest in Asia-Pacific because it is now attempting to push China from technology supporter to developer, and it is an exclusion zone for the US.
Do technological goals differ in the region?
The Asia-Pacific region is well-positioned to benefit from the 4th industrial revolution and related technologies such as cryptocurrency, artificial intelligence (AI), robotics, and automation. China’s government has long fostered machine learning/artificial intelligence and big data. The nation designated AI research to be a top priority in 2017. Korea, Japan, and China will be among the first three nations to adopt 5G technology, putting Asia in charge of the global 5G competition. Roughly two-thirds of C-suite executives in Asia-Pacific are investing in digital/technology assets via venture funding, direct investment and purchases, and strategic partnerships.
Why does technology are being used by developed and emerging markets?
Businesses may use technology to do two functions: decrease expenses and labor by increased performance, and develop new competencies and growth prospects. Though productivity and specialized skills are substantial, determining which one of these goals is more relevant to an Asia-Pacific organization is highly dependent on geography.
What function does change management have in technology?
There are issues and challenges connected with breakthrough innovations, and the Asia-Pacific region will be no exception. Change management is an issue that companies must face while using advanced technologies. Today in various aspects, replacing old systems with new systems is the simple part. Continuous integration might be simple when something creative and innovative is offered in a growing market. However, combating the “fear culture”- the concern that technology would displace well-established employment – is crucial in established economies. Workers and employers in any nation must embrace this approach, and Asia-Pacific countries have succeeded in this regard. As a whole, the Asia-Pacific region is significantly better at adjusting to the dynamic nature of new technology.
How can Asia-Pacific businesses benefit from technology transformation? (n.d.). Retrieved February 26, 2022, from www.ey.com website: https://www.ey.com/en_gl/technology/how-asia-pacific-businesses-can-benefit-from-technology-transformation