Tech expert predicts boom from 2015

KUALA LUMPUR, Nov 4 (Bernama) -- Dr William E Halal, an authority on emerging technology, says the explosion of global e-commerce, green business and other new industries estimated to be worth trilions of dollars is likely to produce a new economic boom starting from 2015.

Speaking at the Technology Business Innovation Forum organised by Technology Park Malaysia Corporation Sdn Bhd (TPM), the American professor said the current rapid growth of global e-commerce, at 10 to 15 per cent adoption levels, would likely reach the critical 30 per cent level soon where new businesses usually take off.

The forum was attended by 200 representatives from government agencies, academics, businessmen and captains of industries.

"We anticipate that the digital world would create online markets worth several trillion dollars, based on the wide usage of the technology in the huge populations in developing countries," he added.

Tracking the next technology revolution for sustainable economic growth remains an important tool for governments and industries to gain a competitive edge globally, he said.

"Technology has been considered as among the factors in corporate strategy. Business executives and decision-makers should elevate technology to the top levels of strategy, a major force in strategic planning," he said.

Meanwhile, TPM president and chief executive officer Datuk Azman Shahidin said Malaysia's solution to sustain economic growth and advance is by building a knowledge-based economy.

"Malaysian companies and entrepreneurs have to tap the latest technology and innovations, to be at the forefront of the global economic landscape and invest in potential business areas, such as green technology, renewable energy and pharmaceuticals from the largely untapped biodiversity," he said.

Azman said the country needs to strategise to benefit from the emerging opportunities in the green economy by tracking the next technology revolution globally.

The forum was supported by University College of Technology and Innovation (UCTI).

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