Technology has changed our lives at spectacular speed with the adoption of artificial intelligence, machine learning, cloud computing and e-commerce. Moreover, the novel Coronavirus (COVID-19) is accelerating this transformation and underscoring the need to harness the digital economy as a driver of growth and innovation. Innovations in medicine, education, communication, and productivity are being leveraged to address the enormous challenges posed by the current COVID-19 pandemic.
Now more than ever, there is greater urgency for companies to adopt transformative technologies and new business models to be agile in the face of the disruption caused by the crisis. Concurrently, the pace of rapid technological advances is set to alter the future of work and create challenges for government in building a policy environment that stimulates meaningful and large-scale employment for fast-growing populations post-COVID-19. There is also a recognition that streamlined policy frameworks and regulatory best practices are likely to drive the development and adoption of cutting-edge tools, such as the Internet of Things (IoT) and artificial intelligence (AI), which are likely to boost the growth of the digital economy.
At the close of 2020, 489,000 MSME adopted eCommerce while 378,000 SME were trained to utilise the eCommerce platform. Companies using eCommerce for export grew exponentially from 1,800 to 27,000. The sector also attracted investment worth RM1.5 billion for the establishment of regional eFullfilment hubs.
The recent launch of the Malaysia Digital Economy Blueprint (MyDIGITAL) which was created with the objective to transform Malaysia into a digitally-driven, high income nation and a regional leader in the digital economy. By the end of this decade, Malaysia will become a high-value-added economy and a net exporter of home-grown technologies and digital solutions.
This event will draw upon the knowledge, expertise, and creativity that exists in industry, the public sector, entrepreneurs, and academia to discuss the emerging policy implications and the need for partnership to deliver a trusted, responsible, and inclusive digital economy in Malaysia.