Malaysia’s pledge to embrace automation, e-payments and Industrial Revolution 4.0 tops employment needs in 2020

KUALA
LUMPUR, MALAYSIA – Media
OutReach – 18 November 2019 – Steering
Malaysia in the direction of progress in the decade ahead is the constant drive
towards a cashless society and all the industry sectors and employment skills
required to support this.

Details from the Michael
Page Malaysia Salary Benchmark 2020 highlights that fintech is growing at an accelerated
rate in Malaysia therefore demand for tech-savvy professionals with experience
in e-money and blockchain technologies is strong.

When it comes to automation
and digital transformation, Malaysia remains ahead of the majority. Nic
Chambers, Regional Director of Michael Page Malaysia comments, “In recent
research from the World Economic Forum, Malaysia ranks third in the world for
companies embracing disruptive ideas and fourth overall for its entrepreneurial
culture. The local business community enjoys the benefits of government
initiatives such as the Industrial Revolution 4.0 which promotes automation and
attracts new investment into the country.”

Other findings from the Michael Page Malaysia Salary Benchmark 2020 reveal that the exponential
growth of fintech, cashless payments and availability of online data, digital
ethics and privacy is a larger concern for consumers, organisations and
government bodies. Therefore job opportunities in digital banking and
cybersecurity will rise as more experts are required.

“Bringing financial services
and technology together requires a hybrid of specialised skills. Continuous
innovation is needed with interface channels to reach out to different segments
of consumers. For the overall customer experience, new technologies have also
been harnessed to optimise operations, decision making, risk management, credit
scoring, anti-money laundering and predictive analytics,” observes Nic
Chambers.

As more companies in Malaysia
move into predictive marketing, professionals skilled in augmented analytics,
AI-driven development and machine learning will be in strong demand as
organisations utilise these new platforms to stay ahead in the fast-changing consumer
landscape. These candidates skilled in technology can command a 10 — 22% salary
increase when switching jobs within similar industries.

Download the full Michael Page Malaysia Salary
Benchmark 2020 report here.

Editor’s notes: The Michael Page Malaysia Salary Benchmark 2020 is derived from 5,000 data points in our proprietary
data and network in Malaysia, which includes job advertisements and placements
from July 2018 to June 2019.