KUALA LUMPUR (July 17): Malaysia risks losing out on potentially new innovations from the innate, but untapped talent that exists within the country, if local industry, especially small and medium enterprises (SMEs) , do not catch up with Industry 4.0 (IR4.0) and its advancements, said Prime Minister Tun Dr Mahathir Mohamad here today.

The Prime Minister also called out to industry to grow and innovate alongside the needs of IR4. 0.

"The Fourth Industrial Revolution will change the kinds of jobs needed in industry. Our strong view is that, as a nation, we must create the jobs of the future.

"Our goal must be to automate work, but humanise jobs. Allow machines to do the dangerous and repetitive, and ensure we humans have the capacity to do the creative, empathetic and interactive," he said in his speech at the Beyond Paradigm Summit 2019 here today.

Dr Mahathir said therefore, an urgent response was needed for Malaysia to create, adopt, and integrate distinctive technological solutions to transform the workforce and industries.

In order to fully manifest the technological innovations within Malaysia’s economic framework, a symbiotic relationship of sorts must be formed between relevant government agencies and the private sector, that are helming it, he said.

"We are happy to see Serba Dinamik IT Solutions taking the lead to initiate these activities to propel and navigate businesses through the digital option," he added.

Dr Mahathir also urged SMEs and local businesses to be at the forefront of digital transformation to stay attractive for investors and competitive on the global scale.

He noted that a paradigm shift among SMEs, especially on innovation and creative solutions, was key to propelling the manufacturing industry forward, as it accounted for 98.5 per cent of manufacturing companies and 42 per cent of employment.

"To establish an ecosystem of Industry 4.0, both industry leaders and the talent supply have to fully understand and embrace the disruptive technologies. For now, adapting is a must, but soon, mastering the technology is fundamental," he said.

According to Dr Mahathir, despite all the technological disruptions that are threatening traditional jobs, the government is determined to create the future of Malaysia that was fair and humane, underpinned by shared prosperity.

"Furthermore, it has been projected that 65 per cent of today’s children, currently in primary education, will be working in jobs that do not exist today.

"As 70 per cent of our current workforce are SPM graduates, reskilling Malaysians of all ages is imperative to ensure success, within our economic landscape for the years to come," he said.

The inaugural Beyond Paradigm Summit 2019 is organised by Serba Dinamik Holdings Bhd.

Themed,”Creating Distinctive Digital Solutions”, the two-day summit will showcase advanced technologies encapsulating the core ideas of automation and data exchange surrounding IR4.0.