Institutional trust in e-business strategy is important, says QI Group chairman

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KUALA LUMPUR (Nov 14): QI Group executive chairman Datuk Seri Vijay Eswaran has called for institutional trust to be built in companies in the internet space to improve connection between tech companies and consumers.

As the founder of an e-commerce-based business with a presence in over 100 countries, he stressed that advancements in technology should focus on building trust with consumers.

"All these disruptions by companies shaping the digital economy are great, but not all of them work because not enough effort is put into building institutional trust," said Vijay at the World Chinese Economic Forum (WCEF) today.

He also highlighted that disruption of the education system is critical to build connection between different generations with disparate viewpoints in today's ever changing world.

"We have schools, colleges and universities that were built in the 19th century with teachers trained in the 20th century, trying to create students for the 21st century. This to me is a major disconnect not just between us and Gen Z but also between the tech companies and the consumers out there," he said in a statement today.

He also added that it was critically important to build the human interaction into all the digitalisation. It should start from the kindergarten level and built into the education system.

"That is the disruption we need," he said.