Covid-19 a catalyst for businesses' digital transformation journey - MIDA | Malaysian Investment Development Authority
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Covid-19 a catalyst for businesses’ digital transformation journey

Covid-19 a catalyst for businesses’ digital transformation journey

19 Nov 2020

As businesses accelerate their migration to digital technologies, driven by the Covid-19 pandemic, they need to ensure the process continues during the recovery and post-pandemic periods, Malaysia Digital Economy Corporation (MDEC) chief executive officer Surina Shukri said.

She said the digital transformation wave is still under way in many industries, both in Malaysia and the Asia-Pacific region, especially among the small and medium enterprises (SMEs) where they are focusing on the digitalisation of products, services and business processes.

While doing so, businesses also need to start adopting the Fourth Industrial Revolution (IR4.0) technologies, she said at a spotlight session entitled “APEC’s Artificial Intelligence (AI) Opportunity”, in conjunction with APEC CEO Dialogues 2020 today.

“Businesses should leverage the use of technology and embrace the new normal to thrive in the era of IR4.0,” she said.

Moving forward, the next focus is on how to utilise AI to improve the quality of decision-making, optimise organisational efficiencies and build closer relationships with customers, she said.

Surina also urged APEC economies to upgrade their digital infrastructure and ensure their people benefit from it.

Meanwhile, in its latest report, the APEC Policy Support Unit encouraged APEC economies to allocate the resources needed to build more reliable technological infrastructure and bridge the digital divide.

The report said that ensuring access to reskilling and upskilling opportunities will enable more people to participate in the economy and re-ignite innovation that will bring higher productivity and greater economic output.

Source: Bernama Posted on : 19 November 2020