The National ICT Association of Malaysia (Pikom) has signed an MoU (memorandum of understanding) with big data analytics solution provider Fusionex for it to train local talents in the area of Big Data.
Fusionex Ivan Teh will equip ICT professional with the right skills in line with the Government’s goal of achieving 20,000 data professionals by 2020, the organisation announced at the Pikom Leadership Summit 2017.
“We found there is a talent mismatch today as many graduates are not aware of what the industry is looking for today,” said Pikom chairman Chin Chee Seong.
“We are also working very closely with the Education Ministry and universities to design courses to align them with the demands of the tech industry.”
“There is a real importance to align what the academia produces versus what the industry wants and that is an ongoing challenge and something we are really working hard to tackle now,” Teh said.
Among the skills that are in demand include data analytics and project management.
The industry body also inked an MoU with CyberSecurity Malaysia (CSM) to combat the recent rise of cyberthreats. It will give CSM access to security services and solutions from its members.
It also signed an MoUs with the Malaysian Association of Tour and Travel Agents (MATTA) to promote the adoption of digital platform in the travel industry.
Chin says that most SMEs (small and medium enterprises) in the travel industry have yet to embrace and reap the benefits of digitalisation.
Transport Minister Datuk Seri Liow Tiong Lai who officiated the event, said that with the partnership, travel and tour agents should take the opportunity to market their services online and this is a step in the right direction in embracing digital economy.
“These initiatives will certainly help in expanding opportunities for the SMEs in their respective sectors and we need to keep up and embrace change as there is a rapid convergence between the physical and digital world,” said Chin.
Even China’s wunderkind billionaire Jack Ma was amazed at how quickly Malaysia set up its Digital Free Trade Zone (DFTZ), complete with the 1,900 enterprises needed to start it up.
Promised as the best thing to happen for Malaysian small and medium enterprises (SMEs) in a long while, the DFTZ is seen as a way for small companies to ride on the coat-tails of Alibaba Group Holding Ltd — one of the world’s biggest tech companies — and reach markets they usually would not otherwise.
“With DFTZ, small businesses can use the digital way to sell and buy things. They can also buy global and sell global,” said the Alibaba founder and executive chairman at the launch early this month.
SMEs will mainly see the benefit of easier customs clearance, currency conversions, as well as a dedicated hub to send and receive goods at the DFTZ’s e-fulfilment hub being built near the Kuala Lumpur International Airport (KLIA) in Sepang.
Officially to be known as the “KLIA Aeropolis DFTZ Park”, the hub is expected to double Malaysia’s air cargo volume to 1.3 million tonnes a year within 10 years.
This can be achieved because Alibaba plans to make Malaysia its regional hub that will be part of Ma’s Electronic World Trade Platform.
“The KLIA Aeropolis DFTZ Park will optimise border clearance and handling from six hours to three hours, with 90% service level agreement and improve cargo terminal operations from four hours to 90 minutes,” said Prime Minister Datuk Seri Mohd Najib Razak at the launch.
Another component of the DFTZ will have nothing to do with cargo, and will be physically located at its services hub being built as part of the Bandar Malaysia project in Sungai Besi, Kuala Lumpur.
The services hub is planned to be a creative and conducive environment where startups can be created and prosper.
Taken together, the two components are expected to make huge contributions to the economy.
Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the DFTZ and its network will enable Malaysian SMEs to expand and tap into a larger market, and hence, increase revenues.
“The government will benefit from all this activity in both tax and non-tax revenues, while at the same time, creating more high-skilled jobs and using state-of-the art technology which can be gross domestic product-accretive in the long run,” he said.
“Implemented properly, the whole project will produce more Malaysian entrepreneurs as a side effect.”
The first project at the satellite services hub will be the Kuala Lumpur Internet City (KLIC) which will be developed through another strategic partner, Catcha Group.
The KLIC will be the centre for creating and marketing Internet-related services specifically for the South-East Asian market.
It will group together companies that would provide a complete eco-system for companies to create, develop and market products for the Internet and e-commerce platform.
“DFTZ will encourage the development of more startups, as well as SMEs that focus on technology and the digital or mobile sector,” an analyst said.
“DFTZ also improves our local technology, products and services as there will be a healthy competition and accessible business knowledge for them as the result of technology.”
Sunway University Business School economics Professor Dr Yeah Kim Leng said its close connection with a US$400 billion (RM1.67 trillion) company will virtually ensure that DFTZ will be successful.
“DFTZ will act as a regional distribution hub for Alibaba, becomes part of its logistic supply chain to the e-commerce sector which will encourage companies from Malaysia and China.
“Our local companies will leverage on this platform provided by Alibaba, to reach the world markets,” Yeah said.
He said the tough pre-requisites to become a DFTZ-registered company will ensure that those companies gain a valuable branding standard that is accepted globally.
Datuk Seri Ivan Teh – Fusionex
We believe this initiative marks the beginning of a revolutionary way to perform trade regionally and globally, at speed and at scale, says Teh (Pic by Ismail Che Rus/TMR)
Meanwhile, Fusionex Group CEO Datuk Seri Ivan Teh said the e-services platform will facilitate trade and allow transactions to take place faster, more cost effectively, more reliably and more efficiently.
“This visionary initiative by the Malaysian government and Alibaba will pave the way to a seamless digital trade platform that will help remove unnecessary barriers, reduce costs and minimise or avoid unnecessary delays and encumbrances.
FUSIONEX International Plc, a big data analytics solutions provider, believes that its new big data analytics solution can help the company to win more clients and gain market share.
The analytics solution, known as Fusionex GIANT, allows companies to have a holistic view of its business operations, understand trends, buyers behavior, and even predict outcomes. Unlike larger big data companies from the US or Europe, the company’s big data solutions are more user-friendly and easier to deploy.
“Our solutions may not be as powerful as some of our rivals’, but it has the features and characteristics that meets the needs of the chief executive officer, the chief information officer, and chief financial officer,” Fusionex Ivan Teh told Digital News Asia recently.
“Today, CEOs want a fast-to-deploy big data solutions, they can’t wait 18 months or more for the implementation. CIOs and CFOs want a solutions that are easy to manage, easy to use, and does not cost a lot to maintain.”
According to Teh, the new GIANT, dubbed the Fusionex GIANT 2017, is far more superior than the predecessor. He said that it is now able to make sense of trillions of data sets — making it a suitable tool for banks, stockbroking firms, hotel chains, manufacturers and others.
Like the previous version, the GIANT allows users to get key insights by just ‘drag-and-drop’. For example, dragging the company’s sales data and customers data could allow the company to find out which particular products are more popular among the young working adults.
“More importantly, the new GIANT allows user to get insights in the easiest way possible — by talking to it. The new GIANT comes with a natural language processing (NLP) capability that will perform various tasks. For example, you simply only need to tell it to show you sales number, or sales number based on region, and those data will be produced immediately,” said Teh.
“Gone are the days when you need days or weeks to generate a report.”
Penetrating the SMEs
The company also introduced its first big data analytics solutions catered to the small and medium enterprises (SMEs).
The product, dubbed ANT, is the “mini-version” of the GIANT. It has most of the features SMEs need when comes to making sense of their data.
“For a long time, the SME market has been underserved. It also has most of the features that SMEs are looking for.
Expecting strong response
In late 2016, Fusionex invited 10 companies to take part in the pilot run of the Fusionex GIANT 2017. From the 10 companies, 8 of them have already signed up for the solution.
“Our vision has always been to create innovative technology that meets the business needs of today’s market. Innovation drives growth and we strongly believe Fusionex GIANT 2017 is the answer to an IoT driven world that is in constant need of better, faster, cost optimised and commercially-feasible technology,” said Teh.
“Analytics can help bridge the gap between business and consumer needs and we are ready to assist our customers to stand above their competition.”