President Joko ‘Jokowi’ Widodo said that SOEs need to keep up with technological development and digital advancement, or they would get left behind.
Jokowi made the statement when launching the opening of The Telkom Hub, the office park of Telkom Group, in Jakarta on Thursday, November 1.
The president said that business competition had changed since a decade ago when the world’s top 10 companies were dominated by banks and oil companies such as Citi Group, Bank of America, and Exxon Mobil. Today, 5 of the world’s top 10 companies are IT-based firms including Apple, Facebook and Microsoft.
“This is just a small example of how technological advancement had changed our world. Industrial Revolution 4.0 is happening and it is bringing a massive, rapid change,” he said.