Digital economy claimed to be a catalyst to enterprise growth
According to GlobalData, the digital economy is empowering tech-oriented enterprises to search for new growth opportunities. What is more, it’s orchestrating new business models across boundaries around the hyper-demanding consumers.
The digitalization allows various enterprises to think like technology companies in building business models, as well as facilitating transformation into completely new businesses.
For example, Tesla’s goal is to provide vehicle owners with cheaper insurance policies using all sorts of data. The company looks to capture a part of the changing insurance industry where incumbents are gearing up to leverage digital technologies.
Along with that, BigPay, currently providing digital wallets, lending and remittance services, is expected to become a leading digital bank and a financial marketplace in the ASEAN region.
What is more, Ping An of China claims to run the world’s best ecosystem practice with digital platforms beyond its finance businesses. For example, Good Doctor is claimed to be a disruptor to traditional healthcare models by using AI. It became the world’s first digital healthcare platform with more than 300 million registered users.