The Future of the Internet and the Infinite Opportunities

IOX Biz Hub had a debut webinar on The Future of the Internet and the Infinite Opportunities
The 2-hour session covered the details of the newly formed hub and programmes that are available to members
Distinguished guests invited to discuss the future landscape of the Internet include: Mr Terence Ng, Head of Global Software Service of Lenovo, Mr Alfred Siew, Co-Founder of Techgoondu, Mr Duc Dang, Executive Assistant to Chairman of Becamex and the Director of Binh Duong Science & Technology Industrial Park
Founding members Mr Paddy Tan, Managing Partner of BlackStorm Consulting and Mr Ray Tai, CEO of Mighty Net were also part of the panel discussion
The discussion was moderated by Ms Jeslin Bay, Managing Partner of BlackStorm Consulting

March 30, 2021: Today’s Internet has grown vastly in scope – covering 22 billion Internet of Things (IoT) devices in 2018 and expecting to grow to 50 billion by 2030. Our use of the Internet has far exceeded what it was intended for when it was first created years back. Monopolies do not last long with the vast connectivity of the Internet, although innovation is budding through the power of it. This is one of the motivations that spurred our decision to launch IOX Biz Hub.

The event started off with an introduction of IOX Biz Hub and a sharing session of the recent recruitment of Mighty Net Hardware Express programme. It was a great honour to invite some distinguished guests from multiple verticals of Internet, representing different stakeholders in the value chain to our debut event to discuss about the future of the Internet and the kind of opportunities that we can expect.

This article will present some highlights covered during the webinar.

The Near Future of the Internet

The COVID-19 pandemic has accelerated the rise of digital transformation. Consumers and organisations have taken a huge shift towards digital adoption as the pandemic changed the way we work and live. This has brought about a plethora of opportunities for businesses in the digital industry.

An example of the technology trends that will change our lives include Work from Home or Anywhere culture driven by technologies. This drove the development of various solutions, such as ThinkSmart Collaboration with Zoom and Lenovo’s new ThinkPad X1 Fold as shared by Terence.

“AI technologies may indeed take away jobs but at the same time it can help us to make a lot of important and complex decisions that are hard to comprehend before.” – Alfred Siew, Co-Founder of Techgoondu

The Future of 5G Technology

In response to the question asking for the speakers’ views on 5G deployment, the speakers held positive views. The speakers shared their views on the development of this technology based on their expertise and how the current development status of this technology could possibly affect the development of technology companies.

“5G is a game changer for enterprises that was not possible before and can provide the scalability that we previously did not have.”– Alfred Siew, Co-Founder of Techgoondu

5G technology has immense potential and opportunities, ranging from increased bandwidth, ultra-fast speed, and low latency.

Terence highlighted that the technological collaboration and creation will be accelerated on 5G networks. 5G is also a centerpiece of Lenovo’s strategy moving forward. He believes that strategic partnerships among players will help to accelerate the consumption of 5G across the world and can ultimately disrupt the PC industry. He also shared that global data suggests that 1.1 billion of mobile subscribers will account for 65 per cent of the world’s 5G users in Asia Pacific in 3 years. It is also forecasted that 5G deployment in Asia Pacific can reach approximately USD 331 billion by 2025.

Integration of 5G and Internet of Things (IoT)

“5G will be increasingly adopted by enterprises in the future and it will allow (for) greater cost efficiencies. The biggest group that will benefit other than consumers will be the industry players.” – Paddy Tan, Managing Partner of BlackStorm Consulting

Manufacturing is an important aspect of hardware businesses. Ray shared his insights on the impact of the digital technologies on the manufacturing industry. He highlighted that 5G is a game changer for enterprises. However, the role that the government plays is very important to the adoption of such technology. Small and medium factories with older devices having trouble with connectivity may face a lot of overwhelming costs to update their devices.

Tips for Businesses to Keep Up with the Change

Businesses need to understand their future needs and how to prepare themselves to move towards a future where 5G, Artificial Intelligence, and other technologies become the key to driving business growth.

“One of the subsidiaries of Becamex is already working on enhancing telecommunications, to increase the capabilities of the technology, infrastructure and providing the best solution to our customers. Becamex is also currently running a partnership with NUS Enterprise to set up an ecosystem builder and global connector, to attract start-ups that want to venture into Vietnam.” – Duc Dang, Executive Assistant to Chairman of Becamex and the Director of Binh Duong Science & Technology Industrial Park

Duc Dang also shared some tips for startups who want to explore Vietnam as a market.

Collaborating at all Levels

When asked about the innovation effort by global companies and their collaboration with other players, Terence shared some cases that Lenovo worked on, such as Lunark Mission, a simulation of isolation on the moon, the partnership with Amazon Web Services (AWS), and the new Virtual Care Solution.

Internet of Infinity Business Hub (IOX Biz Hub)

As an initiative by BlackStorm Consulting and Mighty Net, the IOX Biz Hub is a growth springboard for forward-looking companies. By facilitating multidisciplinary innovation, IOX Biz Hub catalyses companies’ localization efforts and help them to expand their regional and global footprint. IOX Biz Hub hopes to bring about greater connectivity among like-minded individuals and create opportunities for growth and expansion for businesses looking to innovate.

Check out here for the perks to be a member in IOX Biz Hub. Details about the programmes offered by the founding members can be found on their respective pages:

Virtual Business Launchpad by BlackStorm Consulting
Virtual Entrepreneur Launchpad by Blackstorm Consulting
Mighty Net Hardware Express Programme by Mighty Net

Watch the full video for more insights shared by the speakers.

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About IOX Biz Hub

Based in Singapore, the IOX Biz Hub (Internet of Infinity Business Hub, https://ioxbizhub.asia/) is a growth springboard for forward-looking companies. By facilitating multidisciplinary innovation, we catalyse companies’ localisation efforts and help them expand their regional and global footprint.