Global companies and corporations are seeing a paradigm shift as emerging technologies and digital disruptions change the way they operate. Companies are pressured to digitalise to future-proof their business.
That sense of urgency has spurred local and foreign companies to embark on the road to digital maturity. The goal here is leverage on digitalisation to transform the business model to stay relevant in this changing landscape. By doing so, companies are able to drive value across their value chain and generate new areas of growth. The building blocks towards unlocking this reality are cloud-based applications as well as emerging technologies such as Big Data Analytics, Intelligent Automation, Artificial Intelligence and Machine Learning.
Also, the transformation from a tactical to a strategic approach within the GBS ecosystem is apparent in Malaysia. The presence of Air Liquide, the French industrial gases company, is testament to this transformation. Their digital solution is to utilise Big Data Analytics to run predictive maintenance and improve energy efficiency in their industrial plants.
SOCAR’s – the South Korean car-sharing company – presence is clear sign of Malaysia’s ravenous appetite for digitalisation. Factoring the high rate of technological adoption amongst Malaysians, they have eagerly tapped into the e-hailing and car-sharing ecosystem. In order to manage their data structure and resource, they utilise cloud-based solutions that enable fast scalability.
Both of these companies are featured exclusively in this edition of Beyond Borders.
At MDEC, we are keen to see the development and investment of digital services within industries. We believe that designing the right strategy and effecting continuous promotion of digital transformation would set the nation’s rapid development towards more tech-savvy and highly adaptive communities. Needless to say, this goal is in line with our nation’s development plan.
Companies who have invested here are now advocates,providing a buffer in the search for more foreign investments in high growth technology clusters. Their presence is also a testament to why Malaysia is the location of choice for higher value services. With global tech solutions in place, coupled with support from the government, Malaysia is certainly a competitive space to be in.
The ever-growing digital economy in Malaysia offers a myriad of digital services that are being utilised by MNCs and local companies. This issue of Beyond Borders highlights these services and perspectives extensively and brings up the matter of sustainability of current business models. We are currently at a critical juncture whereby companies are pressured to transform or risk being left behind. Stay tuned for more updates from our side.
Hew Wee Choong Vice President, Investment & Industry Development, MDEC
