The decision to base its North Asia Industrial IoT Hub in Taiwan is a welcome fillip for the island’s economy.
The News Lens
Date: 2018/12/15
By: David Green
Credit: Despoitphotos
McKinsey & Co. on Friday officially unveiled a program to put Taiwan at the center of its efforts to help the region transition to a new model of digital business.
Speaking at the launch of the McKinsey North Asia Industrial Internet of Things (IoT) Hub in Taipei, McKinsey Taiwan Managing Partner and American Chamber of Commerce in Taipei Chairman Albert Chang (章錦華) said multinational companies are facing a “make or break moment” in the race to embrace digital.
“We believe companies can attain a 30 percent productivity advantage by undertaking a digital transformation,” Chang said, adding that only a third of companies will successfully achieve the shift.
Chang reiterated a warning McKinsey sounded to Taiwanese executives last year that they must “digitize or die,” stressing that companies that fail to implement digital capabilities across their entire operations will soon find themselves struggling to survive. “If you are not first, you cannot compete,” he said. [FULL STORY]
