Businesses asked to tap into changing technology

TECHNOLOGY is changing and businesses must tap into it, says Wayne Golding, chairman of policy and secretariat of the Apec Business Advisory Council of PNG (Abac PNG).
“We are seeing a high level of digitalisation and innovation that has come to the market place over the last five to six years,” he said.
“It is moving faster than ever.
“Innovation is the fourth revolution.
“Any new revolution always presents new opportunities and in this case, companies have this opportunities,
“Financial opportunities, the innovative finance opportunities that are happening all around the world, are offered by what I call the non-banking institutions.
“They can make billion dollar deals.
“There are a lot of them.
“The other thing is for economies to invest heavily into communications infrastructure.
“If they do not do that, then basically the opportunities of opening up to the world would not be taken.”
Meanwhile, Jean-Paul Luksic, chairman of the Apec CEO Summit 2019 to be hosted in Chile, said the Fourth Industrial Revolution, the age of disruption and digital transformation could represent a threat to some countries.
“Important transformations are taking place at a speed that we have never seen before,” he said.
“For many people, these transformations represent a threat and a number of uncertain scenarios.
“For others, they create the opportunity needed to inspire and adapt to these changes and create the critical solutions the world will need for future prosperity.
“I am honoured to be able to represent Chile as we stand before this great challenge and assumed the responsibility for the Apec CEO summit Chile 2019.
“It will be an opportunity for all participants from 21 member economies of Apec, joined by perhaps a few of our Latin-American neighbours, to meet again, strengthen existing dialogue and business interactions as well as discuss the future challenges of the Asia-Pacific region.”