Speaking at the open forum of WEF-ASEAN 2018, Datuk Yasmin Mahmood, Chief Executive Officer, Malaysia Digital Economy Corporation (MDEC) said that: “I have never been this excited yet feel threatened by the impact of technology."
Yasmin affirmed that job loss is an inevitable outcome of the 4.0 industrial revolution. 50 per cent of current jobs can be replaced by automation and artificial intelligence. However, many new jobs will also be created leading to a long run positive net impact.
The future would be driven by the startups and startups are being led by young people that is why Vietnam has so much potential in today revolution since Vietnam’s population is very young and most of them are high tech entrepreneurs.
Nowadays, there is a huge different in young people of Vietnam compared to a decade ago. From her viewpoint, Vietnam is well-positioned to really unleash the potential of the 4.0 industrial revolution that is driven by the young people.
Noticeably, based on Yasmin’s perspective, Government's main task is to ensure that young people develops the right skill sets for not only current jobs but also for the jobs in 10 to 20 years time.
She said: “What is worrying me right now is that people studying in school or in university think of their degree only as an end not the mean to an end.”
Thus, Government plays crucial role in ensuring our young kids who learning in schools or universities are aware of the impact of this 4.0 industrial revolution of the artificial intelligence not only in the world of digital but also in the world of bio-economy.
“It’s not about what young people know at present but it is really about their ability to learn and how they can adapt to the new technology,” said Yasmin.
According to her, the 4.0 industrial revolution will surely be a short term pain before there will be a long term gain.