SMEs mindset shift key challenge to achieve IR 4.0 — Advantech
KUALA LUMPUR: The local small and medium enterprises’ ( SMEs) mindset shift remains a key challenge to transform themselves to be in tune with the Fourth Industrial Revolution (IR 4.0).
ElvinNg,AdvantechCoMalaysia Sdn Bhd, Industrial Internet of Things (IoT) Asean Region Sector head, said the SMEs were reluctant to move one step ahead, perhaps bounded by financial or internal infrastructure problems.
However, he said the National Policy on Industry 4.0 known as Industry4WRD launched last month, may pave the way for this business transformation as he believed Malaysia is still ahead of its time in terms of technology and talent development compared to certain countries.
“IR 4.0 is not a standard operating procedure, it’s a business transformation process, and it depends on how aggressive and innovative ( the company is), and the corporate initiatives taken. I foresee Malaysia will achieve IR 4.0 at least in five years,” he said at the National ICT Association of Malaysia’s ( PIKOM) Leadership Summit, recently.
“We believe IR 4.0 has been initiated since 2009, and we have gone through the different phases of technology partnerships,” he told Bernama.
The Advantech Co-Creation Ecosystem, said Ng, was a concept for future IoT success, as it collaborates with partners to provide domain-focused solutions for a wide array of applications and to establish a local Industry 4.0 ecosystem to accelerate industrial transformation.
“It is a business model, a transformation concept between technology and local players that create new businesses, so that it will help local entrepreneurs go out of Malaysia, to Southeast Asia and worldwide,” he said.
To-date, Advantech Malaysia has set up a centre of excellence and business hub in Bandar Utama, Petaling Jaya, as it will support regional co- creation processes, currently focusing on Southeast Asia, and bring the linkages to Malaysia.
“Co-creation has started two years ago, right now, we have determined 13 co-creation global partners, and over the last two weeks, we have engaged two additional companies from Malaysia,” he added. — Bernama