Issue of July 7, 2019
     
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Firms urged to boost innovation initiatives
by Press release

Local companies must stay innovative as the country revs up for Industry and Services 4.0 which is reshaping the business landscape.

“Innovations that have started elsewhere are likely to be further prototyped ‘C’ either by virtue of being multinationals with representations in the country or actual plans to replicate innovations in other locations for which the Philippines can be a candidate,” the newly-approved Philippine Export Development Plan (PEDP) 2018-2022 stated.

It cited as an example the prototype for vertical farming which is considering its applications to 500 other urban areas in the world beset by land scarcity, logistics constraints with traditional farming, and costs.

“The extent to which the Philippines is part of the network of suppliers to the manufacture of autonomous vehicles, it brings the country into a major frontier in Industry 4.0,” the PEDP noted.

The PEDP pointed out that innovations in services involving applications range from those related to Artificial Intelligence in business process outsourcing (BPO), such as machine training and learning, to developments in tourism and financial services, which have also seen prototype Services 4.0 innovations.

The development plan also underscored the presence of many of applications using various technology enablers or their combinations in manufacturing.

“These can be adopted in the relevant industries in the Philippines for which proprietary and intellectual property rights need to be acquired. It may be possible to ‘reverse-engineer’ if a physical process is involved or ‘reverse-program’ for software (in the absence of source code). Yet the technologies themselves can be independently utilized to develop different applications aimed for example at satisfying varied consumer demands i.e., mass customization,” it said.

The PEDP added that creative uses of 3D printing in a production process results in productivity increases and superior quality, especially when combined with other technologies, materials, and other end-to-end modifications.

Moreover, it noted that capital and investments are both enablers and constraints to gearing up for Industry and Services 4.0.

Venture capital is seen as an important element to help accelerate the pace of these disruptive goods and services in support of creativity and innovation.


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