BusinessMirror September 29, 2019

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Sunday, September 29, 2019 Vol. 14 No. 354

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Like it or not, the Fourth Industrial Revolution is changing the world of work, and the public sector—like the Philippines’s Bureau of Customs—is following the lead of private business in adopting cloud computing for more efficient services.

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By Bernadette D. Nicolas

ORE and more people from the public and private sectors are now shifting to cloud technology for its security—ironically the same main reason they weren’t inclined to embrace it before.

EDWIN CHAIDIR, head of IT, WWF Indonesia

AMAZON WEB SERVICES

Teresa Carlson, Vice President of WorldWide Public Sector at Amazon Web Services (AWS), admitted that security concerns prevented people from using cloud technology back then. “In fact, I hear more people now telling me that they move to cloud now because of security. I used to hear I can’t move to cloud because of security; now it’s really the top reason. Of all these, it’s agility and security,” Carlson

said at the 1st Asean Public Sector Summit hosted by AWS in Singapore. Aside from agility and security, she said people choose cloud technology because of the speed that it provides and it gives them the ability to experiment. With cloud, buying too much technology to support the operations of one’s business is now a thing of the past as customers are also given the chance to only pay

TERESA CARLSON, Vice President of WorldWide Public Sector at Amazon Web Services (AWS), admitted that security concerns prevented people from using cloud technology back then. AMAZON WEB SERVICES

for what they only use of its storage. Deploying business operations globally is now a lot easier because of cloud. As one of the leading online cloud service providers, AWS means business when it comes to security as it provides more than 200 services dedicated to security and compliance, according to Vincent Quah, Regional Head for Edu-

cation, Research, Healthcare and Not-for-Profit of AWS Asia Pacific and Japan. “Security is our number-one job. AWS is an online cloud service provider. That is our only business. So for us, it is incumbent that we provide the best security capabilities to our customers, to secure their data and to secure their AWS environment,” Quah said.

While he said AWS is really committed to providing security, he also pointed out that security is a “shared responsibility” between AWS and its clients. AWS provides the security of the cloud or the physical infrastructure but the customer has the responsibility to take care of the security inside the cloud, including the right data encryption and

the security of their operating systems, he explained. “So we see security as a handshake between AWS and our customer. We always advise our customer what are the best practices when it comes to security,” he said. As part of this shared responsibility model of AWS, Quah also said there will be no stopping their Continued on A2

China’s hottest startups are having trouble raising cash

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By Lulu Yilun Chen | Bloomberg News

OU know it’s bad when even China’s hottest startups are having trouble raising capital.

A trio of technology innovators have postponed or pulled back on fundraising this year after venture capital pools dried up - the latest sign the country’s remarkable tech startup boom is beginning to peter out. SoftBank Group Corp.-backed Full Truck Alliance nixed plans to raise as much as $1 billion and is now focusing on its bottom line. SenseTime Group Ltd., the world’s highest-valued artificial intelligence (AI) startup, says it’s now on a “non-deal roadshow” with no funding targets, months after it’s said to have held talks to raise roughly $2 billion. And Royole Corp., first in the world to sell a flexible portable device, still needs anchor investors

for a private round targeting about $1 billion that it began contemplating months ago, people familiar with the matter said. China’s tech industry has flourished over the past decade, driving one of the fastest and largest creations of wealth the world has ever seen. That boom has birthed global leaders from Alibaba Group Holding Ltd. and Tencent Holdings Ltd. to ByteDance Inc. and attracted billions from the likes of SoftBank on a scale at times surpassing the US. That all changed in 2019 after Washington-imposed trade curbs soured investors on the world’s No. 2 economy, suppressing deal flow. The euphoria that created more than 100 unicorns, or billion-

PESO EXCHANGE RATES n US 52.1700

CAMERAS for SenseTime Group Ltd.’s autonomous driving system are mounted inside a Lincoln Motor Co. MKZ sedan during a test-drive in Hangzhou, China, on September 6, 2018. QILAI SHEN/BLOOMBERG

dollar firms, is waning: just seven Chinese unicorns have been born as of June, versus 30 in all of 2018. On the global stage, The We Co.’s calamitous float preparations and market reception have further fanned investor caution. “The speculative investment mentality that’s dominated China for the past few years has cooled right off this year,” said Michael Norris, a Shanghai-based research and strategy analyst at consultancy AgencyChina. “SoftBank’s grandiose investments offered a sense of validation to the companies, but this year the Ubers and WeWorks of the world have shown SoftBank might not have the innate ability to pick winners.” Connie Liu, a spokeswoman for Royole, declined to comment. No one’s yet predicting a dot-com bubble-style bust - some of the more aggressive internet players like ByteDance rival Beijing Kuaishou Technology Co. remain on the hunt for capital with hefty Continued on A2

n JAPAN 0.4839 n UK 64.2943 n HK 6.6561 n CHINA 7.3160 n SINGAPORE 37.7524 n AUSTRALIA 35.2043 n EU 56.9853 n SAUDI ARABIA 13.9083

Source: BSP (September 27, 2019 )


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