According to a study on the effects of artificial intelligence (AI), digital technology, and the green economy on the Malaysian workforce, 620,000 jobs across ten important sectors of the country’s economy are at risk of convergence or displacement if they do not reskill or shift to an adjacent role.
The study’s first phase, carried out by Talent Corporation Malaysia Bhd (TalentCorp), focused on ten major industries. Aerospace, chemicals, electrical and electronics (E&E), energy and power, food manufacturing and services, global business services, ICT, pharmaceutical manufacturing, medical devices, and wholesale and retail trade. These were the study’s findings. In 2023, the combined contribution of these industries to Malaysia’s GDP was 60%, or RM933 billion.
The study, which was unveiled on Monday by Human Resources Minister Steven Sim Chee Keong, intends to investigate how these transformative forces are changing industries, as well as identify new job opportunities and highlight the skills that will be essential for Malaysia’s workforce in the future.
About 18%, or 620,000 jobs, of the 3.5 million jobs under the core businesses of these 10 sectors are predicted to be highly impacted in the next three to five years. According to phase 1 of the study, which was conducted from April to September of this year. An estimated 1.8 million, or 53%, are medium-impacted employees.
According to the report’s conclusions, roles that are highly impacted are at risk of undergoing convergence or displacement. Those that are medium impacted are still important but require individuals to deliver above and beyond what is typically expected of them. Roles that need constant self-improvement to be relevant are considered low affected.
Additionally, 60 new employment roles that will grow in importance were identified. Ten percent of these occupations are in new technologies. Twenty percent are in the green economy, and seventy percent are in AI and digital.
Employers are increasingly looking for personnel with specialized skills in these areas. All sectors recognize how urgent it is to move towards AI, digitalization, and green economy trends in order to stay competitive and sustainable, the survey said.
“The study by TalentCorp highlights immense opportunities for Malaysian workers as AI, digitalisation, and the green economy transform industries. By identifying critical skills and emerging roles, we empower Malaysians to adapt and lead globally, driving sustainable growth and resilience in our workforce,” Steven Sim said at the launch of the study on Monday.
Next year, TalentCorp intends to conduct Phase 2 of the study, which will include 12 more areas.
“TalentCorp is working closely with industry stakeholders to ensure the Malaysian workforce remains adaptable,” TalentCorp group chief executive officer Thomas Mathew said in a statement.
“As Malaysia progresses towards a green and digital economy, TalentCorp’s initiatives ensure the workforce is not only employable but capable of driving innovation and global leadership, paving the way for a sustainable future,” he said.
To learn more about TalentCorp’s impact study and the conclusions from the ten sectors, go to www.mymahir.my.
