MITI Minister Datuk Darell Leiking said the forum also highlighted the Smart City innovation with IoT as the core technology and how IoT can be the catalyst for Industry 4.0 (IR 4.0) deployment.
“For Malaysia to remain relevant and competitive in the industry, we need to embrace change, and the adoption of IoT and related technologies is a major step to harness the potential of Malaysian companies to benefit from the technology.
“This will eventually lead to the emergence of smart manufacturing, smart cities, smart grids and smart services in Malaysia,” he said in a statement today.
As one of the 11 enabling technologies outlined in the Industry4WRD policy, Darell said IoT allows interconnection of machines and systems in the value chain, thus improving efficiency, integration and automation.
Meanwhile, MIDA Strategic Planning and Development Senior Executive Director Zabidi Mahbar said Malaysia has an abundance of local companies capable of developing IR 4.0 related technologies.
“Multinationals can do more to support smaller firms in their supply chain, helping them to scale up through co-innovation and the transfer of knowledge and know-how.
“We hope to see other multi-national companies emulating Intel in coming forward to contribute towards realising Malaysia’s digital transformation,” he said.
The forum was attended by 350 participants including from government agencies, academia and industry.