Malaysia Economy: Due to the COVID-19 pandemic, Malaysia underwent rapid digitalization since last year. Based on a survey by Google, one in three Malaysians access digital services for the first time ever to buy groceries and education.
Marc Woo, managing director of Google Malaysia has hosted a podcast today named Think with Google Breakfast. Apparently, industry experts are predicting new trends, which is the rapidly growing Malaysia economy in digital form.
What industry experts are saying about Malaysia economy in digital form:
Malaysia Digital Economy Corporation (MDEC)
Surina Shukri, CEO of Malaysia Digital Economy Corporation (MDEC), mentioned that Malaysia can achieve excellent progress in digitalization. Not only at the frontend, but also the middle and backend portion. In the next few years, we could see business processes and supply chains experiencing significant innovation.
“One challenge ahead is how fast we can adopt at scale. As we can see, last year’s COVID-19 was the push and we have to continue with the momentum and ensure that everyone is adopting digital technology.”
“Malaysian need to change the mindset of ‘semua tak boleh’ back to ‘Malaysia boleh’. Then, we can get to see the adoption of the other facets of digital technology.”
Gokhan Ogut, CEO of Maxis, was upbeat about the new 5G spectrum and the opportunities it will bring to Malaysia. Besides, he added that 5G technology will introduce future technologies or business solutions that no one has even dreamed of yet.
“We were expecting 4G to bring higher speeds and broader bandwidths back in 2012. However, none of us expected that it will really change our lives.”
Furthermore, Suzanne Ling, the co-founder of PichaEats said that she is positive that digital adoption will accelerate in the future across different age groups and segments. The future digital economy will foresee a whole new take on events, conferences, concerts, and user experiences that will be the new growth drivers for all businesses.
Not only that, she added that SMEs have to go along with all the latest technologies and keep updated with new trends in order to survive.
Sean Goh, managing director of Grab Malaysia mentioned that technological advancements would provide Malaysians more chances.
He said: “For example, now ride-hailing is fully digital, deaf community can receive commercial licenses for the first time in Malaysia’s history. Hence, thanks to digital technologies, the deaf community is able to earn an income.”
“With 5G and artificial intelligence, we can have real-time translation between sign and verbal language. Moreover, digital growth has this knock-on effect to create opportunities that we don’t see coming – so just imagine what we can do if we turn our mind to it,”
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