Covering Disruptive Technology Powering Business in The Digital Age

Written by: Nik Faiz Nik Ruzman, Journalist, AOPG.

Sometimes it’s easy to mistake ‘revelation’ for ‘ephemeralism.’

Jan Wong, Founder, OpenMinds Group

Artificial Intelligence (AI) has dominated the headlines, so much so that you’d think it’s the world’s most overhyped celebrity. But beyond the hype, Disruptive Tech News (DTN) sat down with Jan Wong, founder of OpenMinds Group, to discuss the findings of their latest research on business digitalisation and how AI is shaping Malaysia’s corporate landscape.

The findings of more than 150 surveys collected from across various industries in Malaysia have shown that the Golden Peninsular is far from embracing the transformation, with a long way to go.

As a marketing technology consultancy, OpenMinds has been ramping up efforts to bridge the gap between marketing and technology, a task they have been doing for over 12 years.

In this exclusive interview, Wong sheds light on various statistics, from security concerns to the slow adoption of AI, and shares his insights on how Malaysia stacks up against its Southeast Asian neighbours!

Balancing Simplicity and Security: The Ongoing Struggle

While the digitalisation process continues to gain momentum, security remains a top concern for many businesses.

According to OpenMinds’ research, 73.3% of businesses prioritise securing data, yet 56.6% also highlight the importance of ease in adopting new technology. Striking a balance between these two priorities is a persistent challenge.

According to Wong, the problem often lies in companies failing to implement even the most basic security measures.

“You’d be surprised how many organisations use passwords like ‘password123’ or ‘QWERTY,’” he says. “Security is always evolving. As new technology emerges, so do vulnerabilities. It’s almost impossible to have a 100% secure environment because systems change and update constantly.”

However, there is a way forward. Wong believes that businesses can achieve the delicate balance between convenience and security by starting small.

“Start with basic measures like regular backups and strong passwords. Once those are in place, companies can look at more complex solutions like encryption,” he advises. The goal is to build a foundation first and then layer on more advanced security protocols as businesses evolve!

The AI Dilemma: Why Only 28.9% Have Adopted AI Tools

Despite the buzz around AI, only 28.9% of Malaysian businesses have integrated AI tools into their operations. This statistic is particularly startling considering the potential of AI to revolutionise how companies operate. So, what’s holding businesses back?

“There’s a gap between awareness and acceptance,” says Wong. While AI is a hot topic, many business owners struggle to see its practical applications.

“It’s similar to when social media first became popular. People were excited but unsure how it would benefit their business.” Wong adds. This scepticism is further fuelled by misconceptions that AI is limited to tools like ChatGPT, as Wong elaborated further. Many business owners don’t realise that AI can be integrated into various aspects of operations, from customer service to decision-making.

Another major barrier is the perceived complexity and cost of implementing AI. “Where do you start? Should you use AI in security, data storage, or customer service? This debate alone can slow down adoption,” Wong notes.

The hesitation is understandable, especially for companies that have been operating successfully for decades without the need for automation.

Nevertheless, Wong is optimistic that AI will follow the same trajectory as social media and eventually become a business necessity. The key, he suggests, is to educate businesses not just on what AI can do but also on how it can directly impact their bottom line.

Cybersecurity Training: Walking the Talk?

With 69.1% of respondents highlighting the importance of cybersecurity training, you would think businesses are actively educating their teams on the latest threats. But the reality, according to Wong, is a bit more complicated.

“Companies are aware of the threats, but they don’t fully grasp how they can be affected,” he says. There’s often a mindset that cybersecurity threats only happen to larger businesses. SMEs, in particular, tend to believe they are too small to be targeted by cybercriminals. However, this couldn’t be further from the truth.

As Wong points out, cyber attacks are often indiscriminate. “Hackers use automated tools to exploit vulnerabilities in any system they can access. It doesn’t matter if it’s a small business or a large corporation,” he warns. The lack of continuous training and awareness leaves companies vulnerable, even as they acknowledge the importance of cybersecurity on paper.

The disconnect between awareness and action is something Wong sees regularly in his work across Southeast Asia. Businesses may claim to prioritise cybersecurity, but when it comes to investing in proper training or updating their protocols, the effort often falls short.

Malaysia vs Southeast Asia: Keeping Up the Pace?

Given OpenMinds’ extensive work with companies across the region, Wong is well-positioned to assess how Malaysia compares to its neighbours when it comes to embracing new technologies like AI.

According to him, Malaysia is holding its own, thanks largely to a strong infrastructure and supportive government initiatives.

“Our (Malaysia) infrastructure is among the best in Southeast Asia, which gives us a strong foundation to adopt new technologies,” Wong explains. The government’s push for digitalisation and AI has brought in significant foreign investment, including the establishment of new data centres in the country. This makes advanced tools and services more accessible to local businesses.

That said, Malaysia still faces challenges, particularly when it comes to the talent gap. “We have the technology, but the speed at which it’s advancing is outpacing the availability of skilled talent,” Wong observes.

Educational institutions are struggling to keep up with the rapid evolution of technology, and many workers in the field lack the advanced skills necessary to navigate emerging tools like AI.

Despite these challenges, Wong remains optimistic about Malaysia’s future in the digital landscape. “We’re on the right track. The government is working on regulations for AI and investing in upskilling talent. But it will take time.”

To Sum It All Up: Start Small, Think Big

As businesses across Malaysia contemplate their next steps in digital transformation, Wong offers a piece of advice: Start small.

“Digital transformation can feel overwhelming, but you don’t have to digitise your entire business overnight. Pick one area to focus on, like reporting or customer data management, and experiment with free tools to see what works,” he suggests.

The message is clear: Whether it’s AI adoption or bolstering cybersecurity, businesses don’t need to jump in all at once. By starting small, companies can gradually build their confidence in these new technologies and eventually scale up.

With strong government support, growing infrastructure, and a focus on upskilling talent, Malaysia has all the tools it needs to thrive in the digital age. But it’s up to businesses to take the first step!

(0)(0)