KUALA LUMPUR, MALAYSIA - Media OutReach - 17 January 2022 - The recent global pandemic
has fast-forwarded change. It has opened considerable opportunities for
businesses to make a profit while at the same time it has increased the
potential for crisis. The reality is the evolving threat matrix of the digital
economy, which is at the convergence of many factors: cyber security, data
management, weaponised information in the media, external attacks on supply
chains and rapid political and policy changes.
According to the latest figures released
by the Department of Statistics Malaysia, the country's digital economy has
grown at a rate of 17.1 per cent to a value of some RM320 billion, with some
estimates placing the value of the overall contribution of this sector to the
economy at 22.6 per cent. These impressive growth figures have garnered the
attention of investors and criminal elements alike.
The Malaysia Global Business Forum
(MGBF)'s exclusive roundtable series called "The Evolving Threat Matrix of the Digital
Economy" will confront critical questions impacting the future of business in
the rapidly digitising world. The four component events will focus on: addressing
security concerns in critical value chains; digital resilience in the corporate
sector; charting the future of data resilience; and addressing weaponised
information in the media.
When speaking about dealing with
security concerns in critical value chains, MGBF Founding Chairman Nordin
Abdullah stated, "The threat matrix has evolved. The frontline is at the
confluence of information warfare, propaganda, cyberspace incursions, social
media, algorithms, big data and behavioural communications, just to name a few.
Business leaders within complex global supply chains need to be aware of these
threats and if they wish to survive, must be prepared to manage these
When asked about digital resilience in
the corporate sector, Nordin mentioned, "Corporations are in a digital arms
race; it is just that many do not realise it. A new breed of mercenaries are
looking to exploit gaps in cybersecurity and digital frameworks. Coupled with
weaponised communications that is designed to bring companies to their knees,
organisations need leaders who understand the new rapidly evolving strategic
"Companies can now live, or die based on
their ability to generate and manage data. This strategic asset is also a
target, requiring protection from internal and external forces. Effectively
managing these existential challenges to business is the opportunity that
business leaders need to grasp to ensure a sustainable future," continued
Nordin when asked about charting the future of data resilience.
"Attacks on corporations and their
leadership often take the form of weaponised information attacks in the media.
These communications often fall on the heads of corporate communicators. It
goes deeper than the job scope and pay grade of communications teams. The
importance of understanding these advanced business threats now falls on the
shoulders of board members and C-suites," concluded Nordin.
Data-driven business decisions have
never been as crucial, especially in this era. Extracting relevant and timely
business data to analyse the competitive market environment is a key element to
success. The Malaysia Global Business Forum (MGBF) leverages off technology, experience,
and market presence to aid businesses in making data-driven decisions. The
series of events are part of an effort to realise a sustainable future in the
face of rapid change.
MGBF was established to empower stakeholders
at the intersection of international and Malaysian business. Through government
relations, business intelligence, advocacy, media engagement, market research,
networking, advisory and business matching, MGBF delivers results for
individuals, corporations, trade, and business associations, as well as
national and state governments.
For more information visit www.MalaysiaGlobalBusinessForum.com.