4.5 Million Malaysians Likely To Lose Jobs

4.5 Million Malaysians Likely To Lose Jobs

4.5 Million Malaysians Likely To Lose Jobs

Minister cites the rise of AI and the probably of it causing a recession within the employment industry.

Approximately 4.5 million Malaysians are likely to lose their jobs by 2030 if they do not improve their skills or attend any reskilling or upskilling programmes as the rise of artificial intelligence (AI) is growing rampant, says Human Resources Minister V Sivakumar. 

He said that this was based during the 2020 World Economic Forum warning everyone that AI could cause a recession within the job industry as it has already been used to automate tasks in various industries such as manufacturing, healthcare and customer service. 

The report stated that in order to remain employed in the next two years, 50% of workers will need to be retrained. With the upcoming Industrial Revolution 4.0, there is a crucial need for us to transform the national workforce into a skill workforce in order to remain relevant and up-to-date. 

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“However, we are fortunate that the newly emerging jobs these days can be combined with technology and there is a need to improve skills in order to keep the job from being taken from us.” said the Minister at an event.

He said that the ministry through the Skill Development Fund Corporation which is in collaboration with Talent Corporation Malaysia Bhd had created ID-TAP where it aims to improve skills and will retrain 900 workers within the country based on industry needs. 

Sivakumar said that RM 7.2 million has been allocated for workers to be equipped with knowledge and skills required in industries such as mechatronics, electrical and electronic engineering as well as data analysis and information technology. 

The targeted workers are those with work experiences of five years or less, he said. 900 workers were to be selected where 627 participants have been given approval with the highest number is from Kedah (177), Selangor (88) and Negeri Sembilan (75).

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