Staying relevant to stay in business
Accelerating Malaysia’s digital economy with technology
The world is changing swiftly as uncertainty surrounding trade, economic growth, health, regulations and geopolitics looms. At the same time, the Fourth Industrial Revolution (4IR) has finally come of age. We can see this in various forms, through the digitally connected products and services we consume, to advancements in smart cities and factories and increasingly common automation of tasks and services in our homes and at work.
To stay relevant in a digital world where stakeholder demands and expectations are evolving, businesses across every industry will have to reevaluate their strategies, looking into how technology can be implemented to unlock opportunities. The more businesses in Malaysia intensify their digital transformation, the greater the growth of the country’s digital economy - a key contributor to our GDP.
It’s long been Malaysia’s goal to become a more digitalised nation, as this would not only boost the country’s attractiveness in terms of doing business, but also improve the standard of living amongst the Rakyat.
To get there, the government has launched the Malaysia Digital Economy Blueprint, which outlines specific strategies where the public and private sectors can play a role in making this a reality. The strategies are varied, encompassing areas such as developing infrastructure, creating an inclusive digital society, and building a future-ready workforce equipped with the right mix of skills.
How can businesses contribute to the execution of these plans? Read our thought leadership ‘Staying relevant to stay in business’ to learn more about our perspectives.
Adoption of the technologies that power 4IR has been on the rise for some time. About six in ten companies globally plan to make significant investments in both AI and IoT. While it’s easy to make them the stars of the show, it’s a mistake to do so. Essentially, they aren’t 4IR—they merely enable it.
Accelerating Malaysia’s digital economy with technology
Big change can’t happen without employee buy-in, which is easier to get if you’re an emotionally engaged leader.
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A three-tier development model for digital transformation of citizen services.
Edward Clayton
Deals Partner, Capital Projects & Infrastructure, PwC Malaysia
Tel: +60 (16) 672 3420
