The Philippine digital economy holds immense growth potential as enterprises adopt digital tools and Gen Z drives innovation, but achieving the nation’s digital aspirations demands unified action from key stakeholders.

This was pointed out by Darius Delgado, Globe’s Chief Commercial Officer, during the fireside chat on “Paving the Path to a Digital Philippines” at the recent GSMA Digital Nation Summit Manila.

A Robust Foundation for a Thriving Digital Economy

Over the years, the Philippine telco industry has built a formidable infrastructure that bridges the digital divide and promotes digital inclusion. It has, so far, connected over 6 million customers via postpaid broadband and more than 120 million through wireless networks, enabling a digital ecosystem with 87 million online users.

This connectivity has facilitated digital services such as GCash, that empowers over 90 million Filipinos including 6 million merchants and social sellers. Alongside key partners, GCash also provides opportunities for jobseekers to augment their income through the GJobs platform and gigs listed on the platform, as well as digital payment tools for entrepreneurs.

The digital economy has contributed PHP2.08 trillion in economic value in 2022, equivalent to 9.4% of the national Gross Domestic Product (GDP), according to the Philippine Statistics Authority.

Amid such achievements, Delgado stressed the need for partnerships to fully realize the benefits of the digital economy, noting that no single telco could handle the challenges or opportunities alone. Building a robust digital ecosystem requires shared investments, regulatory support, and coordinated efforts.

By working together, the government and private sector can accelerate infrastructure development, promote digital literacy, and create an environment where technology drives inclusive economic growth.

Gen Z and B2B as Catalysts for Growth

With its population having a median age of 24.8 years and 42 million Gen Zs, the Philippines has a unique opportunity to tap into the energy and innovation of its youth.

“In the next five years, we estimate around 11 million new customers joining the mobile base, entering the highly-saturated market with a mobile-first mindset. This presents a huge opportunity in the consumer sector,” Delgado said.

On the business-to-business (B2B) front, he identified significant opportunities among enterprises, which have been slower to adopt digital solutions compared to consumers.

“There’s a lot of awareness and education that needs to be built in terms of how ICT and certain business solutions can help make their operations more effective, more efficient and more pervasive, so they can fully harness the potential of their businesses and improve the customer experience,” he said.

Embracing AI and Cybersecurity

Delgado also emphasized the importance of artificial intelligence (AI) in the Philippines’ digital journey, saying “You have to leverage the AI curve, otherwise, you’ll get left behind. But it is also our belief that Gen AI by itself will not replace people, but people who are skilled in Gen AI will replace those who don’t use Gen AI.”

Globe is actively preparing for an AI-driven future by investing in critical digital infrastructure, such as data centers, while also prioritizing the continuous upskilling and education of its workforce to ensure the responsible use of AI technologies.

On cybersecurity, Delgado stressed the significance of trust in the digital era. “The most important currency today, given all of the digital scams and security and cyber attacks, is trust. No matter what you offer to the customer, everything goes away if you are not a trusted brand,” he said.

Globe has fortified its cybersecurity controls to mitigate potential threats, though some technologies can still bypass existing measures. In response, the company collaborates with GSMA to strengthen industry-wide standards and push for stricter regulations against digital scams.

A Brighter Future for Filipinos

Delgado reaffirmed the telco industry’s commitment to driving progress, emphasizing its role in addressing societal challenges in health, education, and financial inclusion through technology.

“We are at the cusp of digital transformation moving forward. That means we have a bigger responsibility now as telcos to further the growth of the industry and ensure that the bright future every Filipino aspires for becomes a reality,” he said.

Through sustained collaboration, innovation, and investment, Philippine telcos aim to empower enterprises, build on the strengths of Gen Z, and ensure inclusive progress in the digital age.

To learn more about Globe, visit https://www.globe.com.ph/.