Optimistic about the Philippine economy growing faster, the country’s biggest business group is pushing companies to leverage technology to bring innovation and accelerate growth amid challenges that continue plaguing the business sector.
PCCI vice president for International Affairs and chairman of this year’s 50th Philippine Business Conference and Expo Raymund Jude Aguilar emphasized that innovation is crucial for business survival in today’s competitive landscape.
“Digitalization is making the business landscape ever more competitive. Your competitors are no longer just in your locale or in your country but are present beyond our borders,” he said.
The founder of Electronic Commerce Payments Inc. (ECPay) noted that innovation extends beyond digitalization. It can involve incorporating artificial intelligence (AI) and IT systems, improving business processes, modifying workflows, expanding product and service offerings and transforming human resource management.
Digitizing MSMEs
The business community needs to understand how micro, small and medium enterprises (MSMEs) can adapt to AI to thrive.
“We are at a very young stage for AI, but it will come very quickly,” Aguilar said. “We need infrastructure, connectivity, faster internet speeds, more data centers, and technical minds who understand AI.”
Aguilar warned that businesses that fail to utilize technology and the Internet of Things (IoT) risk being overtaken by competitors who have embraced innovation.
Business expo
The 50th Philippine Business Conference and Expo (PBC&E) is set to take place on Oct. 22 to 23 at the Marriott Grand Ballroom, with the theme “Embracing Innovation. Empowering Business. Enriching Lives.”
The conference will look back at the PBC&E’s role in promoting a transformative agenda for the Philippines over the past 50 years.
“We will reflect on the lessons learned from our past PCCI presidents and the efforts of our predecessors that have brought us to where we are today. We will also explore the visions of the new business leaders and CEOs for the country and their companies,” Aguilar said.
President Ferdinand Marcos Jr. and Vice President Sara Duterte are expected to attend the conference and address the business community.
Aguilar said the two-day summit would serve as a platform for learning, sharing and networking.
As an offshoot of the conference, the PCCI will submit the 50th PBC resolution to President Marcos, covering food security, human resource development, job creation and investments.
“These are areas that we believe the government needs to focus on to improve the state of business in the Philippines,” Aguilar said.
Expo chairman
An accomplished businessman, Aguilar has made fortunes in various industries, including e-payments, distribution, waste management and information technology.
Aguilar is now a director of ECPay, the leading electronic customer purchase and payment system provider in the Philippines with over 400,000 touch points nationwide.
He is directly involved in corporate environmental and recycling waste management as president of Recycle Plus Inc. Aguilar is also an executive director and shareholder in Payment One Inc., GATE Distribution Enterprise Inc., WERRA Logistics Inc., AXIOS Ventures Inc., Genzai Corp. and Pharmaco Inc.
“I was actually a medical student. I thought I wanted to be a doctor, but it didn’t work out, so I went to advertising for a couple of years, handling alcohol, cigarette and beer accounts—which I enjoyed. I moved on to marketing—working for one of the top alcohol beverage manufacturers in the country. I felt I needed to educate myself more, so I took my Masters in Business and from there, I started my first venture. Later on, my partners and I formed several other companies. It was businesses after businesses after businesses,” he said.
He finished his Bachelor of Arts in Psychology from the University of the Philippines and took his Masters in Business Management from the Asian Institute of Management (AIM).
Aguilar and wife, Diana Pardo Aguilar, who is currently a commissioner at the Social Security System, have three children.
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