MANILA, Philippines — The Aboitiz Group, the Cebu-based diversified conglomerate, is boosting its digital capabilities, including utilizing artificial intelligence (AI) and data science, to accelerate its so-called Great Transformation initiative, a new forward-looking business blueprint that would transition the conglomerate into the post COVID-19 era.
Aboitiz Data Innovation (ADI), the group’s data science and AI (DSAI) unit, has announced the launch of Parlay, a data exchange platform.
With the platform, businesses from across the conglomerate’s various industries can access data from different industries such as power, banking and financial services, manufacturing, land, infrastructure, and food among others.
“Through Parlay, businesses will have unparalleled access to data sets from some of the region’s largest corporations to inspire possibilities for creating new opportunities or tackling business challenges,” the group said.
Essentially, Parlay can help businesses find solutions to issues ranging from financial inclusion to emissions reduction, by comparing and exploring data from other sectors to solve problems.
David Hardoon, ADI managing director, pointed out that data is the business of the present.
“With Parlay, we’re really excited about providing a place where you can exchange the reams of data you have collected for something even bigger and better – an infinite number of possibilities. Ultimately, on Parlay we want users to engage with data of all kinds and leave inspired to do everything from creating new products and services to rethinking business models and ways of working to tackling challenges that can improve people’s lives,” Hardoon said.
ADI aims to simplify the complex world of data to advance the over 100-year-old company’s digital transformation journey by operationalizing DSAI across all business units.
These efforts are part of the group’s Great Transformation plans “to continue making the company more resilient and future-ready to respond to challenges and capture opportunities and growth in an increasingly digital world.”
The Aboitiz Group, a 100-year-old conglomerate, has investments in power through AboitizPower; banking through Union Bank of the Philippines; infrastructure through Aboitiz InfraCapital, food via Pilmico and Gold Coin; property through AboitizLand, and construction through Aboitiz Construction.
Aboitiz Group president and CEO Sabin Aboitiz, trumpeting the Great Transformation initiative, said the way to thrive in a new business landscape is having a “renewed entrepreneurial mindset,” and embarking on continuous investment in the “hypergrowth” of its team members in an enabling and inclusive work environment.