Future-proof businesses, workforce in view of Industry 4.0 — FT Minister

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SHAH ALAM (Dec 6): Business owners, employers and employees in the country have been urged to future-proof their businesses, workforce and jobs in view of the changes that come with the fourth industrial revolution (Industry 4.0).

Federal Territories Minister Khalid Abd Samad, in making the call, said this was important as future workforce and businesses needed to align their skill set to keep pace with technological advancements.

"By 2020, Industry 4.0 would have brought us advanced robotics and autonomous transport, artificial intelligence and machine learning, advanced materials, biotechnology and genomics.

“Some jobs will disappear, others will grow, and jobs that don't even exist today will become commonplace," he said in his speech when officiating the Malaysia Excellence Business Awards (MEBA) 2018 here tonight.

Khalid cited a World Economic Forum report that said over one-third of skills (35 per cent) that were considered important in today's workforce would have changed two years from now.

During the event, AirAsia was among the winners to receive MEBA award under the Excellence in Logistics Transportation category.

MEBA, co-organised by Malaysia Digital Chamber of Commerce and The Leadership Post and supported by the Ministry of Federal Territories and United Nations Global Compact Network Malaysia, is designed to promote excellence, innovation and best practices in business entities.