If the last few years have taught us anything, it is that the future is unpredictable. From the widespread embrace of digital transformation to the burgeoning importance of cybersecurity and the transformative potential of artificial intelligence (AI), which will only continue to gather pace in the new year, many emerging trends have impacted the country’s business landscape. Here are some of the key business and technology trends we foresee opening a new chapter for Malaysian companies in the year ahead.

Navigating Malaysia’s tech horizon

The rapid expansion of the country’s digital economy in recent years positions it as a potential primary driver of development. The government sees it as a key driver of economic growth and a new source of fiscal revenue.

Overview of Malaysia’s digital economy

Investors have been forced to re-evaluate their investment strategies, given the new economic reality of inflation and geopolitical uncertainties as well as the need to decarbonise. According to Schroders’ Global Investor Study 2023, 57% of Malaysian investors — versus 54% globally and 59% in Southeast Asia — have already adjusted their investment strategies, while a third intend to do so. The UK-based multinational asset management company had surveyed more than 23,000 individual investors from 33 countries and territories for its flagship study.

A shift in investment strategies amid new economic reality

The salary was once seen as the main motivator for keeping employees happy in the workplace — the higher the salary, the happier the workforce. However, this theory does not seem to hold water anymore.

A higher salary does not mean a happier workforce

In 2022, the number of graduates in Malaysia rose 5.1% to 5.92 million, while the graduate’s unemployment rate declined 3.7%, according to data released by the Department of Statistics Malaysia in its Graduate Statistics 2022 report.

Rise in number of graduates, drop in number of those unemployed

The adoption of artificial intelligence (AI) has been steadily progressing over the years but recent advancements, particularly in generative AI, along with the increased accessibility of these tools, have brought heightened attention to the transformative changes and unprecedented possibilities.