TECHNOLOGY-BASED industries is expected to contribute to more than 20% of Malaysia’s gross domestic product (GDP) by 2022, said Prime Minister Dr Mahathir Mohamad.

“Technological capacities are defining national development and prosperity. The fourth industrial revolution has made technology a determinant of national strength.

“By 2022, technology-based industries may contribute more than 20% to Malaysia’s GDP,” he said at the Malaysia: Beyond 2020 Conference today.

“Familiar industrial paradigms of gradual development belong to the yesteryears. Smart technology allows developing countries to leapfrog developed ones of a more conventional era.”

He said this will require the development of human resources to become more agile in adapting rapid technological advancement.

He added that the era of being heavily dependent on commodity exports and basic manufactured goods is now in the past.

Although technology is seen as the way forward, he reminded it is crucial to be selective when investing in technology.

“Nevertheless, we must be very selective in which types of technology to invest in. We must also be realistic in expecting the returns on investment.”

In response to a question whether there are concerns if technology can be abused, he said it can be used for good and bad.

“I always talks about the knife. You can used a knife to carve out beautiful things but you can also use a knife to murder and stab people.

“It is the same with everything else you do. There are good and bad uses. There are good and bad results.

“Modern technology can be abused. Already we have accusations made that Russia influenced the election of (US President) Donald Trump.”

Using the analogy of fake news, Dr Mahathir said technology is not to be blamed but the hands abusing it.

He added one cannot shy away from the use of technology and it should be used for the right purposes such as job creation and connectivity.

He said all powers can be abused, hence, it is up to the people to make good use of technology. – October 21, 2019.