Malaysia needs to upskill before it can participate in Industry 4.0

A culture of continuous learning and constant upskilling is required before Malaysia can participate in Industry 4.0, as per economists.

Speaking to Malay Mail, AirAsia X Chairman Tan Sri Rafidah Aziz stated that the old education format can no longer cope with the demands of Industry 4.0 which requires knowledge in all areas of related services as well as production and supply chains.

Tan Sri Rafidah Aziz added,“ A ‘revolution in education’ is required to be in line with the dynamics of the marketplace domestically, regionally and globally. Education is the lynchpin to a Malaysia moving forward successfully in the highly competitive operating environment.”

She added that failure to revolutionize the education system, structure and software and content will render Malaysia unable to meet the new demands and imperatives.

Malaysia is still not among the top picks for China due to its lower skilled labour coupled with higher wages. To address this issue, Rafidah believes that a revamp of the overall higher education spectrum is needed to effectively close the gap between the supply and demand for human resource in the new economic sectors.

Tan Sri added that a good proportion (of graduates) have done courses or studies that have very little or no relevance to what business and industry require in their operations. Secondly, many do no not reinforce their knowledge base by additionally adding on ICT related skills and competence. 

Given the pressing demand for digital talent, in the highly competitive knowledge-based industries and sectors, it is very difficult for graduates of studies in the humanities courses.

Bank Negara’s annual report for 2018, released on March 27th shows that starting salaries in 2018 for diplomas, basic degrees, honors’ degree, and master’s degree holders have fallen from 2010 levels. Mostly the dip in the starting salaries has happened because of the lack of high-skilled job creation.