As Chinese New Year celebrations come and go, some of the more obvious discussions center on what types of businesses or livelihoods will thrive in the coming year. I honestly give little credence to these foresights, as many a new year has come and gone with my own fortunes not seeing the forecasted rise and fall. Whether our businesses or occupations fail to meet projected incomes, what will matter is that the lessons learned from past years are applied to the coming ones. To me, all forward movement is growth. Each year is therefore providential, as it provides the space with which to learn and grow, even if income targets are not met. It either gives us material blessings or challenges to do better.

To illustrate, it may sometimes happen that net incomes may fall short of expectations, but the expenses incurred to make long-term investments made by the company may give it a better fit for the challenges expected in the years ahead. For example, buying better machinery may cost a lot and dampen short-term profits, but can deliver lower operating and maintenance costs in the long run, improving bottom lines. Similarly, choosing to expand in new markets may entail initial additional costs in the short term, but give you a first-mover advantage over competitors in the medium and long term.

What will matter, therefore, are the values we hold in our hearts as we navigate the complex economy we find ourselves in. External factors like government policies, the openness of the local business environment, and costs of doing business or living can impact, but should not define the possibilities and opportunities we see before us.

Instead, it is about fortitude, which requires being consistent and persevering. This virtue enables us to keep a clear head so that ideas needed to address challenges and opportunities will continue to flow despite the pressure to give up.

Philippine digital pact

A landmark tripartite Memorandum of Agreement to establish a framework to collaborate on accelerating digital infrastructure and Artificial Intelligence was signed by the Private Sector Advisory Council, GoDigital Philippines, and the ASEAN Business Advisory Council ahead of the ASEAN 2026 Summit.

This digital agreement can facilitate the deep collaboration between public and private stakeholders that can encourage local counterparts in major Philippine cities and provinces to do the same. Digitalization task forces can be formed combining the public and private sector agencies, which can be formed at the local level to help put projects together and assist local businesses in achieving a higher level of digitalization.

This can enable businesses to properly harness Artificial Intelligence (AI) and other tools so that they can thrive and compete in this new age. As trade barriers continue to go down, competition within ASEAN is likely. Hence, digital enabling will be a necessary feature of future plans. Demand for digitalized services in all sectors and frontline services has been established in the country, accelerated by the pandemic.

This digitalization drive will also spur a demand for locally available service providers and programmers. With the help of responsibly utilized artificial intelligence, I believe that the design and delivery of necessary digital platforms can be done at a much lower cost and speed than previously thought. This can help close the digital divide in a meaningful way, making services more easily accessible to the people, especially in rural areas like Mindanao.