KUALA LUMPUR, 6 Feb — Microsoft in a study with IDC Asia Pacific revealed today that it estimates that digital transformation will contribute 0.6 per cent or US$10 billion to the Malaysian economy in 2021.
“Malaysia is clearly on the digital transformation fast track. Within the next four years, we expect to see nearly 45 per cent of Malaysia’s GDP to be derived from digital products and services,” said K. Raman, Microsoft Malaysia’s Managing Director.
The study indicates that 85 per cent of organisations in Malaysia are in the midst of their digital transformation journey but only 7 per cent can be classified as ‘leaders’.
These are organisations that have full or progressing digital transformation strategies with at least one third revenue derived from digital products and services.
Another startling revelation of the study was that 96 per cent of jobs will be transformed in the next three years.
The study also revealed that more than half of the jobs in the market today will be redeployed to higher value roles or reskilled to meet the needs of the digital age.
Among the core technologies that shaped the digital transformation were Big Data analytics, cloud computing and mobility. Companies which were investing in emerging technologies such as Artificial Intelligence, Internet of Things and in Virtual Reality and Augmented Reality will have the biggest competitive edge, Microsoft said in a statement.