Snowflake Can Play An Important Part In ASEAN's DEFA

From Nor Baizura Basri

SAN FRANCISCO, June 4 (Bernama) -- US-based cloud company Snowflake said it could play an important part in the ASEAN Digital Economy Framework Agreement (DEFA) as the bloc’s member countries aim to conclude the negotiations by the end of this year.

Its ASEAN managing director, Satchit Joglekar, said as a company, Snowflake has always focused on building ecosystems, especially with the connectedness inherent in its artificial intelligence (AI) data cloud ensures that companies across ASEAN, not just within a single country like Singapore or Indonesia, have a connected ecosystem but also extends from their supply chains to how they serve their customers.

“These ecosystems can cut across multiple ASEAN countries, encompassing both customers and suppliers. Our core mission has been to enable this connectedness securely and in a governed fashion.

“This allows data to be leveraged through our connected, secure data cloud to unlock value within that ecosystem, whether through data sharing relationships or by building and distributing applications on our marketplaces.

“This approach is aligned with the company’s vision to build a connected ecosystem that is not specific to each country or a particular conglomerate but extends it across the entire digital ecosystem in ASEAN,” he told Bernama on the sidelines of the Snowflake Summit 2025 held at Moscone Centre here.

Satchit added that Snowflake can also play a significant role in enabling the community.

Pointing out that a key strength of ASEAN is its large and growing young population emerging from educational institutions, he said the company is also actively pursuing partnerships with institutions of higher learning in the major economies where it invests and has a presence.

He said by introducing concepts like the AI Data Cloud, connectedness and data ecosystems for example, at the earliest levels allow students to leverage them in their careers whilst at the same time, consistently engaging with communities of data engineers, data scientists and data professionals, ensuring they are up-to-speed with the latest advancements in the ecosystem.

Satchit said this could lead the communities in the data ecosystem to unlock value for their companies, country and the future of the ASEAN digital economy.

“The DEFA continues to be a pivotal step for the grouping, not just in embracing the digital economy but helping to define its future. With negotiations set to conclude by 2025, the time for businesses to act is now. Those who prepare early will be best positioned to lead,” he said.

The DEFA, which aims to provide a comprehensive roadmap to empower businesses and stakeholders across ASEAN, is expected to create its own history by becoming the world’s first region-wide digital economy and legally binding agreement.

The agreement is expected to focus on key areas such as cross-border e-commerce, cybersecurity, digital trade, digital ID and digital payments and new emerging areas like AI.

According to Boston Consulting Group, ASEAN’s digital economy is projected to triple by the end of the decade through the natural adoption of digital technologies, growing to almost US$1 trillion (US$1 = RM4.24) by 2030 from about US$300 billion to date, and with DEFA, it could double the value contribution, unlocking US$2 trillion to ASEAN digital economy.

-- BERNAMA