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Why businesses should be looking to the future

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People use Pi Pay app on their smartphone. Heng Chivoan

Why businesses should be looking to the future

Advanced technology and the digital transformation in Cambodia are set to usher in a bright future. And businesses in the Kingdom should react to this changing landscape to improve their competitiveness, experts said on Tuesday.

Speaking at the Digital Transformation Workshop, “Leveraging on Internet of Things, Artificial Intelligence, Big Data and Cloud Computing”, on Tuesday, Tram Iv Tek, the minister of posts and telecommunications, said the time had come to start planning for the future, and build skills and infrastructure in artificial intelligence and the Internet of Things (IoT) to take advantage of such new technologies.

“The last few decades have seen an explosion of the information and communications technology [ICT] sector, which has transformed many economies [across the globe].

“The drivers of economic growth have become more information-intensive and less dependent on natural resources, with ICT affecting virtually every aspect of economic activity,” he said.

Tuesday’s workshop was organised by the National Institute of Posts, Telecoms and ICT (Niptic) and Kepstar Data Centre Management Co Ltd (Kepstar).

It served to bring together and connect the government, corporate and banking sectors, startups, private companies and technology leaders to share ideas and discuss Cambodia’s digital transformation.

According to Ministry of Posts and Telecommunications data, about 30 percent of the Cambodian population was offline at the end of 2017.

The government has set a target of 100 percent broadband coverage in urban areas and 70 percent in rural areas by 2020. It also aims for an 80 percent internet penetration rate.

While affordable access to high-quality ICT has become a key priority for the ministry and many businesses, Iv Tek said the ministry’s strategies were aimed at expanding broadband coverage and infrastructure, creating a platform for the digital transformation, and building a dynamic digital ecosystem.

Thai Sokvutha, director of ICT solution firm, Te Aikhong Enterprise, said on Tuesday that technological transformations are noticeable in Cambodia, with consumers using e-payment services and other platforms launched by private companies and banking institutions.

While users and companies in Cambodia still have limited knowledge of new technology, Sokvutha said things have improved.

“The truth is that it is now compulsory for businesses to adopt new technologies or they will be left behind.

“Some users are now starting to become familiar with new technology and some providers have designed and developed apps and systems for their users,” he said.

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