The Covid-19 pandemic has taken a toll on our economy. Yet there is a silver lining - it has made businesses stronger and more resilient.
“Through that disruption, Covid-19 has brought forth the 4th Industrial Revolution . A good example is the disruption of the supply chain as ships and planes are grounded,” Naguib, who also runs Strand, a technology consulting company, said. “If you’re a knowledge-based economy, you are more agile and will be able to adjust as supply chains and markets adjust. You are also at the higher value spectrum of industry which in turn creates higher value jobs,” he added.
“This type of business model also makes it easier for products to be recycled or reused as they are part of a service. This will optimise the utilisation of resources. “The pandemic has accelerated the shift towards digitalisation, particularly towards IoT and IR4.0, which has helped to manage the pandemic through applications such as MySejahtera,” he toldMeanwhile, Malaysian Employers Federation executive director Datuk Shamsuddin Bardan said new work arrangements have emerged alongside greater opportunities for the local workforce.