KUALA LUMPUR (Nov 19): An estimated 620,000 jobs across 10 key sectors of the Malaysian economy are at risk of convergence or displacement if they do not reskill or pivot to an adjacent role, based on a study on the impact of artificial intelligence (AI), digital technology, and the green economy on the Malaysian workforce.
These were the findings of the Phase 1 of the study — conducted by Talent Corporation Malaysia Bhd (TalentCorp) — which focused on 10 key sectors — namely aerospace, chemicals, electrical and electronics (E&E), energy and power, food manufacturing and service, global business services, ICT, medical devices, pharmaceutical manufacturing, and wholesale and retail trade. These sectors collectively contributed 60% or RM933 billion to Malaysia’s gross domestic products (GDP) in 2023.
Unveiled by the Human Resources Minister Steven Sim Chee Keong on Monday, the study aims to examine how these transformative forces are reshaping industries, while identifying emerging job roles and pinpointing the skills crucial for Malaysia's future workforce.
Phase 1 of the study, which were undertaken from April to September this year, found that around 18% or 620,000 jobs of the 3.5 million employed under the core businesses of these 10 sectors are expected to be highly impacted in the next three to five years, while an estimated 1.8 million or 53% are medium-impacted employees.
Highly impacted means these roles are at risk of convergence or displacement, while medium impacted means the roles are still relevant but such employees need to upskill or deliver beyond what would be traditionally expected, according to a report on the study's findings. Low impacted roles are those that require mostly ongoing self-improvement to stay relevant.
Also identified were 60 emerging job roles that will become increasingly important. Of these jobs, 70% are in AI and digital, 20% in the green economy, and the remaining 10% in new technologies.
All sectors recognise the pressing necessity of transitioning towards AI, digitalisation and green economy trends to remain competitive and sustainable, and employers are increasingly seeking talent with specialised skills in these areas, the report noted.
“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.
TalentCorp plans to undertake Phase 2 of the study, which will involve an additional 12 sectors, next year.
“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.
Visit www.mymahir.my for more information about TalentCorp’s impact study and findings from the 10 sectors.
Source: TheEdge