Youths to Dominate Digital Economy, Leading Malaysia Into the IR 4.0

November 24, 20206:08 pm1177 views
Youths to Dominate Digital Economy, Leading Malaysia Into the IR 4.0
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Young Malaysians will play the biggest role in advancing the country’s digital economy and will be responsible for the country’s transition into the fourth industrial revolution (IR4.0), according to the Malaysia Digital Economy Corporation (MDEC).

Citing a World Economic Forum report, MDEC CEO Surina Shukri said 65% of students now in primary school would end up working in jobs that were yet to be created.

“Industries that these young creative minds are expected to dominate include the digital content sector, digital financing, start-up space, e-commerce, automation and robotics, anything powered via the Internet of Things and any service operating in the gig economy,” she said.

She spoke of the importance of preparing young Malaysians for an evolving job market, saying business models and employment trends were starting to change and traditional skill sets would soon be redundant.

“Key skills required now and for the future include advanced problem-solving capabilities and being committed to continuous learning.

“Competencies in leveraging digital platforms and services, along with various digital marketing capabilities, are necessary. These must be addressed as they are critical for next-gen jobs and opportunities that will power the digital economy forward.”

One of the first steps, she said, would be to incorporate core digital subjects into the school syllabus and another would be to improve students’ access to online learning in rural areas.

See also: Malaysia Targets 500,000 New Jobs from 2021

Raymond Siva, MDEC’s chief marketing officer, said young Malaysians were set to be leaders in digital content due to their ability to quickly capitalise on key trends and monetise their work.

He said examples of these were TikTok users, who use the social media platform to showcase their video editing skills.

“Countless opportunities within these platforms can be tapped into for brand awareness of marketing and micro or macro influencing, where content is now a key driver.

“Generating income via these platforms, therefore, is scalable, be it a side hustle or for long-term income.”

With regard to privacy and data security concerns, Siva said MDEC would work under the recently launched Malaysia Cyber Security Strategy for the next five years to ensure all Malaysians could learn to tap into the digital economy safely and responsibly.

He added that MDEC’s latest efforts, including the #YoungCreators initiative, would serve as platforms for unlocking youths’ potential and encouraging them to improve their digital skills for the years to come.


Read also: Malaysia Allows Undocumented Migrants Work in Certain Industries

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