Andi, (third, left) in a group photo at the Asian Summit ’23 themed ‘Future of Business: Substantial & Sustainable Growth With IR 4.0 programme’
KOTA KINABALU: It is imperative to invest in digital literacy programmes and provide entrepreneurs with the necessary training and resources to embrace digital technologies, said Assistant Industrial Development and Entrepreneurship Minister Datuk Andi Muhammad Suryady Bandy.
He said Government initiatives, private sector collaborations and educational institutions can work together to empower entrepreneurs with the knowledge and skills required to navigate the digital landscape successfully.
He cited a wealthy Sabah that has industries and entrepreneurs that are on the cutting edge by employing the latest technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), Data Mining, Virtual Reality, and Robotics will surely enhance the wellbeing of all residents here.
“I have been energetically encouraging all business sectors, those in existence with a great history or new businesses being formed, to be serious in riding on the latest wave of industrial revolution that is going digital,” he said when officiating the Asian Summit ’23 themed ‘Future of Business: Substantial & Sustainable Growth With IR 4.0’, organised by S1 AsiaPac Sdn Bhd at the Pacific Sutera Harbour here today.
Andi Muhammad Suryady Bandy
Andi said it is sad that Malaysia is not at the forefront of going digital, adding Malaysia’s digital adoption rate is lower than that of some other ASEAN countries.
He said a World Bank report stated that only about one in three businesses in Malaysia have implemented digital transformation strategies, while less than one in four businesses have a dedicated digital strategy team.
According to a survey, he said Singapore ranks first in the Asian Digital Transformation Index, owing to its well-developed digital infrastructure while, in contrast, Malaysia’s businesses have underperformed in terms of digitalisation relative to most of its ASEAN peers such as Thailand, the Philippines, Vietnam and Singapore.
“However, Malaysia has been making strides in this area. A recently completed analysis on Malaysia’s Digital Economy examined three interrelated issues that are closely aligned with Malaysia’s goal of becoming the e-commerce hub of the region: digital connectivity, digital entrepreneurship, and taxation of digital platforms. The report highlights that Malaysia has a higher percentage of social media users compared to other ASEAN countries.
“Therefore, it is never too late to start the digital transformation. Everyone has to start somewhere because whether we like it or not, the world is going digital. You name it, it is going digital, such as in financial, human resources, supply chain, manufacturing, agriculture, daily interactions, communications, business transactions and decision making etc…it is change or be left behind.”
Andi is therefore very pleased that S1 AsiaPac is seizing the opportunity to organise the Summit not only to educate all sectors in business as well as government agencies but also to allow networking of like-minded people who are already enjoying their deployment of IR4.0 with those who are seriously thinking of implementing the latest technologies to enhance all business functions and productions.
“As we embark on this transformative journey into the realm of IR4.0, I am inspired by the collective passion and innovative spirit that unites us. The discussions ahead hold the promise of shaping our future, driving progress, and fostering collaborations that will redefine industries and empower societies,” he said, while wishing all the participants have enlightening discussions and fruitful interactions.
