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Digital economy continues to impact nation’s transformation

KUALA LUMPUR — Malaysian Digital Economy Corp (MDEC) expects Budget 2017 to see more emphasis on the impact of the digital economy on the national economy, said its chief executive officer (CEO) Datuk Yasmin Mahmood

“The government’s aspiration of ‘driving the digital economy transformation’ has led entrepreneurs to gain proper direction in utilising the digital technology.

“For next year’s budget, the industry would be able to make the same kind of impact as last year to the nation digital’s economy,” she said during the BIGIT Technology Malaysia 2016 data show yesterday.

Yasmin said from next year onwards, the 20-year old MDEC has to instigate change and drive the country’s digital economy onwards, in order to fully capitalise on digital innovation and the internet economy.

“What we need to do is to make sure that we refresh ourselves to ensure the success that we have carried for the past 20 years,” she said.

Malaysia is making steady progress in becoming a hub for big data analytics (BDA) solution providers. As of August, there are 22 multinational BDA companies from six countries currently in Malaysia. These include IHS Markit and SiteCore. Additionally, Fusionex and Data Micron are among the Malaysian companies who have expanded globally. In total, there are 32 BDA companies that have exported their services and solutions, and 47 BDA start-ups continuously innovating and testing cutting edge technology in this space.

MDEC launched Asean Data Analytics eXchange (ADAX), a regional platform connecting communities, enterprises, startups, academia and working professionals, last year.

Yasmin also said that MDEC, via collaborations with local education institutes, initially targeted to produce 1,500 data scientists by 2020. However, the target has been revised due to an increase in demand and adoption of big data.

“But due to the increase in awareness and adoption, this figure has now been revised to 2,000 data scientists and 16,000 data professionals,” she said.

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