Opportunities digital economy provides to enterprises revealed: study

Digital economy claimed to be a catalyst to enterprise growth

digital economy

Opportunities digital economy provides to enterprises revealed: study. Source: shutterstock.com

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.

Enterprise digital leaders, far more radical than merely investing in the latest digital technologies, can afford the luxury of setting up new business models beyond their industry, sector or domain. To unlock the opportunities and make innovation efforts more compelling, they need to constantly monitor cross-industry digital trends for the best practices
Kiran Raj, Principal Disruptive Tech Analyst at GlobalData

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.

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