December 13, 2021
Pankaj ChopraCOVID-19 has hit us all hard. No nation could escape the disruption it brought in terms of daily life, business, or finance. It completely devastated our understanding of business operations and execution.
Larger, developed nations had the resources to fight the crisis. But for developing nations, including the ASEAN countries, the challenges were more heightened. Hence, the ASEAN manufacturers that were once known as a global phenomenon struggled to claim their title of the factories of the future.
However, despite all the upheaval, COVID-19 also opened a window of opportunity. The one, and perhaps the only, good thing that the pandemic has done is accelerate digital adoption.
While several Asian countries have evolved to become global leaders, ASEAN nations are still considered places for assembly work. However, the novel coronavirus has brought a shift in the mindset of these nations. They now see an opportunity through digital technologies for overall development.
Seeking Digital Technologies to Drive Customer Experience
When the pandemic hit, the organizations that had adopted technologies empowering industry 4.0 seemed to be better positioned to fight the crisis. They were even able to thrive and grow during this period.
Modern digital technologies enabled these companies to shift their business model on the internet. They were able to continue their operations without disrupting customer experience and were also able to enhance it.
With customer experience becoming the key brand differentiator globally, driving customer engagement and providing optimal services to build long-lasting relationships became the top priority for ASEAN businesses. This aspect led to some significant efforts to embrace Industry 4.0 technologies during and post-COVID-19.
Efforts to Embrace Industry 4.0 Technologies Post-COVID
Industry 4.0 technologies use data, computing power, human-machine interaction, analytics, intelligence, and advanced production methods. We are already witnessing several companies starting to adopt these technologies to their benefit. The stakeholders are trying to create a digital disruption in ASEAN countries post COVID-19. In the ASEAN Investment Report 20-21, the association has dedicated a significant part of Foreign Direct Investment (FDI) to Industry 4.0 transformation.
Imperatives to Drive the Industry 4.0 Initiatives
ASEAN manufacturers need to follow certain imperatives that can drive the industry 4.0 initiatives undertaken by the government and private sectors. These imperatives, talking in the broader terms, include:
Domain Expertise
The correct implementation of Industry 4.0 technologies requires domain expertise in both the areas: operations and Information Technology (IT). The fourth industrial revolution is deploying the appropriate technology for the proper use case.
- Digital Mindset
As digital innovation keeps advancing and we connect more technology components, this skills gap will undoubtedly increase. Hence, leaders need to rethink their workforce skill level and develop ways to bridge the skills gap.
- Digital Operations
Digital transformations revamp how you store and use data and intelligence and change how you conduct daily business operations. Hence, businesses must focus heavily on streamlining these operations against the digital technologies to align them and reap the benefits.
- Digital Infrastructure
Digital operations, analytics capabilities, and digital mindset, all need a robust and agile digital infrastructure. This infrastructure is the ecosystem where everything connects to build a revolutionary business model.
The Bottomline
The Post-COVID era is a golden opportunity for the ASEAN nations for various reasons.
Firstly, both private and government sectors have taken initiatives to bring digital development and achieve Industry 4.0 objectives. Secondly, several multinational companies are looking to invest and build factory locations in ASEAN countries. Reasons include that ASEAN offers the perfect blend of low costs, specialty skills, and quick access to both Asian and Western markets. The time to shift the traditional mindset and develop a renewed focus on Industry 4.0 is now.
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About the Author:
Pankaj Chopra, Sales Head & AVP, (Motherson Information Technologies Spain S.L.U.)
Helping businesses achieve excellence for a better world is a goal Pankaj shares with Motherson Technology services.
Pankaj leads for Motherson Technology services. Motherson Technology service is a joint venture between Motherson and Sumitomo Wiring Systems Co. Ltd. and provides end-to-end IT solutions focusing on driving technology-led transformation.
Pankaj has 25+ years of IT industry experience in managing business and Sales Teams across India and the Far East. As an industry veteran, Pankaj has deep domain expertise in BFSI, Enterprise, and Public Sector verticals. In addition, Pankaj is a certified AWS Business Professional and is currently helping clients in the areas of legacy modernization & transition to the Cloud.
Pankaj also focuses on meeting new-age customer demands based on domain-led next-generation services including Cloud, Industry 4.0, Intelligent automation with client-centric business models. With two-decade-long experience, Pankaj has had the opportunity to experience changing customer expectations first-hand, work with industry stalwarts to shape the future of work, and navigate the evolving business paradigm while enabling him to forge critical relationships with clients and partners, including Fortune 500 companies.
