Big Data boosts Southeast Asia's recovery, says ADB report

JAY DIRECTO AFP MANILA BIG data holds immense potential for a post-COVID 19 economic recovery in Southeast Asia, with benefits in public health, social welfare and protection and education valued at over $100 billion, according to an Asian Development Bank report on Wednesday.

The pace of digitalization was accelerated during the COVID 19 pandemic, underscoring the importance of big data for the effective delivery of key public services. It is crucial for policymakers across the region to help pave the way for big data adoption, from strategic governance to building a data-driven culture.

Remote monitoring systems can bring 9.4 billion dollars in annual cost savings to the health care system in Southeast Asia by 2030 through fewer hospital visits, shorter hospital stays and medical procedures, while the use of analytics to direct highly targeted health interventions for at-risk populations can lead to an estimated 15.5 billion dollars increase in gross domestic product in the region by 2030, according to the Manila-based bank's report.

The report also found that using digital technologies to provide personalized and remote learning and job matching can contribute an estimated 77.1 billion dollars annually to the GDP of the sub-region by the year 2030.

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According to the report, digital technologies are transforming the global economy, and the size of the internet economy could triple to 300 billion dollars by 2025, compared to 2019.

ADB director-general for Southeast Asia Ramesh Subramaniam said that the pace of digitalization accelerated during the COVID 19 pandemic, underscoring the importance of big data for the effective delivery of key public services.

He said that it is important for policymakers across the region to help pave the way for big data adoption, from strategic governance to building a data-driven culture.

The report cautions that unlocking the potential of big data in public service delivery will require governments to lay the strategic and technical groundwork to maximize the opportunities of big data and mitigate its risks, including issues with data privacy, fraud, and cybersecurity.