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Jakarta Post

Who can lead in Industry 4.0 era?

  • Muhammad Shodiq
    Muhammad Shodiq

    Vice president, Syariah & MSME Academy head at CIMB Niaga

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Jakarta   /   Mon, August 26, 2019   /  02:45 pm
Who can lead in Industry 4.0 era? Back view of young businessman and woman looking at digital business screens and holograms in futuristic interior. (Shutterstock/Peshkova)

Industry 4.0 has been impacting traditional financial companies through disintermediation, unbundling, commoditization and invisibility. Mobile applications play a vital role today in the development of e-commerce. According to the iPrice report on “The Biggest eCommerce Websites and Apps in Southeast Asia – Q1 2019”, there are more than 350 million internet users in Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam). E-commerce is the fastest growing sector in the internet economy, reaching US$23 billion in 2018 and expected to exceed $100 billion in gross merchandise value by 2025. Multiple aspects of disruption are impacting banks: One out of three millennials are open to switching banks in 90 days, and 33 percent of millennials believe that they do not need banks. Financial institutions are starting to lose customer...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.