Communications, multimedia players should adapt to changing conditions, says Fahmi

KUALA LUMPUR, Oct 12: Communications and Digital Minister Fahmi Fadzil has urged communications and multimedia (C&M) industry players to play a crucial role in developing capabilities to innovate and adapt to changing market conditions.

Quoting a report by the Institute for the Future (IFTF) published by Dell Technologies, he said that with the advent of technology, 85 per cent of the jobs that will exist in 2030 have not even been invented yet.

“This indicates that the pace of change will be rapid and that people will have to ‘learn in the moment’ using new technologies such as augmented reality and virtual reality. The ability to gain knowledge will be more valuable than knowledge itself.

“Thus, you (the industry players) must also invest in the necessary infrastructure and talent to support your growth and expansion. Together, we can build a vibrant and competitive C&M industry that can contribute to the Malaysian economy,” he said in his opening remarks at the Malaysian Communications and Multimedia Commission (MCMC) Capacity Development Awards Night 2023 on Wednesday.

Furthermore, he said capacity and capability development is crucial as the industry is a major contributor to the Malaysian economy and highly competitive, with players from both the public and private sectors vying for market share.

He stated that many countries, such as Finland, Singapore and Thailand, have also started investing in the digital economy to ensure they become more inclusive, efficient and innovative by leveraging digital technologies.

“They have launched long-term strategies and initiatives to reap the benefits of the digital economy while safeguarding against its risks. Malaysia is not an exception in this matter,” he said.