Instilling Innovation and Becoming a Data-Driven Organization
As expected, our 2020 results took a hit due, more or less, to the same factors that plagued our economy but we do not allow ourselves to be discouraged by this. Instead, we need to continue learning from this big room for improvement that continues to expand before us. This is why, for the second year in a row, Innovation is our “Value of the Year’’. We need to instill this in our teams but achieving that requires consistency and clarity over an extended period of time. It is a slow-and-steady approach, something we truly need to devote time and energy to until it eventually becomes second nature to our everyday thought process. This becomes even more vital as we work to achieve our strategic growth objectives in the post-COVID world.
It is said that innovation is often borne out of disruption but, more and more, we are seeing innovation coming from a sense of urgency. Not surprisingly, the information age reveals the glaring disconnect between the speed of innovation in improving the quality of life and the almost crippling inability of companies, leaders in business, to adapt them. Obviously, change needs to start with us.
At the core, whatever and however we innovate through our products and services should lead to creating a positive impact on our communities. By embracing Data Science and Artificial Intelligence (DSAI), we open up to new and bigger opportunities to accelerate our productivity, drive business value, and generate new revenue streams. In 2021, we further harness its full potential with the launch of Aboitiz Data Innovation, our new subsidiary under AEV International that will consolidate the #OneAboitiz DSAI operating model across the Group. This company functions as our key enabler of data strategy through its dual role as a service provider and governance center to support the organization.
We envision DSAI to be a permanent aspect of each SBU’s business landscape, including the development and support of our business models and decision-making capabilities. Ultimately, it will be instrumental towards achieving our environmental, social, and corporate governance (ESG) goals.