The biggest technological leapfrogging opportunities for Asian organizations

Brant Carson, partner in our Sydney office, Asia lead of McKinsey Technology and co-author of Future of Asia, identifies the four biggest leapfrogging opportunities for Asian organizations, and shares his thoughts on how these opportunities will drive growth and innovation in the years ahead.

What are the biggest technological leapfrogging opportunities for Asian organizations?

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Over the past decade, Asian companies and countries have been dramatically increasing their technology capabilities. Based on the work we’ve done, we see four different opportunities for Asian countries and companies going forward to really leapfrog.

The first of these is reimagine the customer experience. Simply said, because of the large populations here in Asia, there is a lot of opportunity for real innovation.

The second thing is building on the strengths of manufacturing that exists already in Asia, coupled with global consumption continuing to increase even with COVID-19. And that’s going to drive significant innovation in those supply chains.

The third thing is we will see more and more business technology services need. Since 76 percent of all science technology and engineering graduates come from Asia, we are going to see more and more of those services being fulfilled out of Asia, both for Asian companies as well as globally.

And the last thing is that by 2040, we’re going to see about 43 percent of all energy users coming from Asia. This means that Asia is going to have to be part of the energy transition for the globe in reducing carbon emissions and really innovating.

And so, as you can see there are a number of opportunities for Asian countries and companies and I think we’re quite excited about that potential.

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