KUALA LUMPUR: The government must consider critical aspects in Budget 2024 to drive the Fourth Industrial Revolution (4IR) adoption.
Skribble Me Malaysia Sdn Bhd chief executive officer Teng Chan Leong said in the upcoming Budget 2024 the government should consider measures to enhance digital literacy, as overcoming the digital skills gap is crucial for widespread 4IR adoption.
"We must allocate resources to implement comprehensive programs to improve digital literacy among the workforce and the general population.
"This investment will equip individuals with the skills needed to thrive in a digitalised world," he said in a statement.
Teng noted a report saying that only 15 to 20 per cent of companies, primarily multinationals, have migrated to 4IR.
He said that small and medium enterprises (SMEs), which are the backbone of the country, need to catch up in their digital adoption.
"People are a crucial asset in 4IR adoption. Yet, our workforce for operating robotics has been described as 'scant' by the Asian Robotics Review, citing 75 per cent as semi-skilled, 7 per cent as low-skilled, and just 18 per cent as skilled," Teng said.
Teng said there should be targeted incentives to encourage businesses to embrace 4IR technologies and invest in workforce development, targeted incentives should be provided.
He said these incentives will catalyse technology adoption and training.
To empower skilled professionals there should also be initiatives to empower and match skilled professionals with businesses driving 4IR initiatives.
Teng said resources can be directed toward talent-matching programs that bridge the gap between businesses and the skilled workforce needed for digital transformation.
Further, there should also be more engagement with industry through promoting closer collaboration between businesses and educational institutions.
"Encouraging partnerships that facilitate the transfer of practical knowledge ensures that graduates are better prepared for the demands of the 4IR job market," said Teng.
He said Malaysia is still one of the friendliest when it comes to language, and we have one of the highest educated communities within the region.
"We may have fewer experts, but we have a good number of skilled professionals.
"Together with our language capability, it gives us a competitive edge, especially in the service-based sector, as we get infrastructure and other industry sectors up to speed.
"It is easy to think that more can be done, but 4IR is an evolving concept. It requires a collaborative effort to navigate these uncertain times," Teng said, adding that the baseline and the transformational are good places to move businesses forward.