MALAYSIA risks losing out on potentially new innovations from the nation’s innate but untapped talent, if local industries – especially small and medium enterprises – do not catch up with the Fourth Industrial Revolution (IR4.0) and its advancements, Prime Minister Dr Mahathir Mohamad said during his keynote speech at the Beyond Paradigm Summit 2019 in Kuala Lumpur today.

According to the Prime Minister, Malaysian industry needed to grow and innovate alongside the needs of IR4.0.

“The Fourth Industrial Revolution will change the kinds of jobs needed in industry. Our strong view is that, as a nation, we must create the jobs of the future.

“Our goal must be to automate work but humanise jobs. Allow machines to do the dangerous and repetitive, and ensure we humans have the capacity to do the creative, empathetic and interactive,” he said.

Dr Mahathir said Malaysia needed to respond urgently to create, adopt, and integrate distinctive technological solutions to transform the workforce and its industries.

In order to fully manifest the technological innovations within Malaysia’s economic framework, a symbiotic relationship of sorts must be formed between relevant government agencies and the private sector, that are helming it, he said. 

“We are happy to see Serba Dinamik IT Solutions taking the lead to initiate these activities to propel and navigate businesses through the digital option,” he added.

Dr Mahathir also urged SMEs and local businesses to be at the forefront of digital transformation to stay attractive for investors and competitive globally.

He noted that a paradigm shift among SMEs, especially in innovation and creative solutions, was the key to propelling the manufacturing industry forward, given that it accounted for 42% of national employment.

“To establish an ecosystem for IR4.0, industry leaders and the talent supply have to fully understand and embrace the disruptive technologies. For now, adapting is a must, but soon, mastering the technology will be fundamental,” he said.

According to Dr Mahathir, despite all the technological disruptions that are threatening traditional jobs, the government is determined to create the future of Malaysia that is fair and humane, underpinned by shared prosperity.

“Furthermore, it has been projected that 65% of today’s children, currently in primary education, will be working in jobs that do not exist today.

“As 70% of our current workforce are SPM graduates, reskilling Malaysians of all ages is imperative to ensure success, within our economic landscape for the years to come,” he said. – Bernama, July 17, 2019.