China 2019 - Connecting with Digital ASEAN

TL;DR

Connectivity and seamless trade are the biggest opportunities for ASEAN in the digital economy, but challenges such as data flow and regulation need to be addressed. Big tech companies can play a significant role in the digitization of ASEAN, but a balance needs to be struck between collaboration and addressing concerns about their size and power. Building trust is crucial for successful data sharing and digitalization efforts.

Transcript

hello good afternoon everyone thank you so much for joining us hope everyone's full up after lunch and ready to rock and roll for this session my name is Arjun Koppel I'm CNBC's China technology correspondent based in our Bureau in Guangzhou South China this session today is called connecting with digital RCN and I want to just set the scene here a... Read More

Key Insights

• 😃 ASEAN faces both opportunities and challenges in the digital economy, with connectivity and seamless trade being the biggest opportunities.
• 👨‍💼 Collaboration and dialogue between businesses, governments, and the private sector are crucial for successful digitization efforts.
• 🏛️ Trust is essential for data sharing and should be built through predictability, transparency, and responsible behavior.
• 😃 Big tech companies can contribute to digitization but should be balanced with fair competition and collaboration with smaller businesses.

Questions & Answers

Q: What are the biggest challenges faced by ASEAN in the digital economy?

The challenges include connectivity, human resources, regulation, and the cross-border issues. Connectivity and infrastructure need improvement, while human resources need to be trained in digital skills. Regulation should be flexible to accommodate the growth of the digital economy. Cross-border issues, such as taxation and data sharing, need to be addressed.

Q: How can we overcome the obstacles to data flow and regulation in ASEAN?

ASEAN should work towards a common framework that harmonizes data regulations and encourages data sharing. The focus should be on partnerships, collaboration, and dialogue between businesses, governments, and the private sector. ASEAN should learn from each other's experiences and find ways to effectively regulate data while ensuring privacy and security.

Q: What role can big tech companies play in the digitization of ASEAN?

Big tech companies can contribute their expertise, resources, and technology to drive digitization in ASEAN. However, concerns about their size and power need to be addressed. Collaboration between big tech companies and smaller businesses is important to ensure a fair playing field and to foster innovation. Harmonization and cooperation are key to harnessing the potential of big tech in the region.

Q: How can trust be established in data sharing and digitalization efforts?

Trust can be established through predictability, transparency, and responsible behavior. Companies and governments need to ensure that data is used ethically and securely. Building trust requires open communication, collaboration, and a clear purpose for data sharing. Self-governance, codes of conduct, and custodian roles can also contribute to maintaining trust in data sharing initiatives.

Summary & Key Takeaways

• ASEAN faces the challenge of connecting a diverse region of countries with a population of over 650 million people. However, it also presents a huge opportunity for companies and governments.

• The biggest opportunity in the digital economy for ASEAN is connectivity and seamless trade. The challenge lies in how to make it happen and make it accessible to all.

• The youth in ASEAN are demanding change and driving the digitalization process by asking for a common identity and being proactive in shaping laws and regulations.