New roundtable series by The Malaysia Global Business Forum to discuss threat matrix in digital economy
The Malaysia Global Business Forum (MGBF) has announced the launch of a new roundtable series titled "The Evolving Threat Matrix of the Digital Economy".
The purpose of the discussion is to help define a better understanding of the threat matrix concerning the digital economy in Malaysia and how it can be utilised to continually strengthen business, partnerships and security.
According to figures that have recently been released by the Department of Statistics Malaysia, the country's digital economy has grown at a rate of 17.1% to a value of some RM320 billion. Some estimates place the value of the overall contribution of this sector to the economy at 22.6%, which is a significant portion. These growth figures have attracted the attention of investors and criminal elements alike, therefore making the digital economy a hard target.
The series will raise critical questions that impact the future of business in the rapidly digitising world. The discussion will focus on four distinct events:
- Addressing security concerns in critical value chains
- Digital resilience in the corporate sector
- Charting the future of data resilience
- Addressing weaponised information in the media
MGBF founding chairman Nordin Abdullah says that the constant evolution of new technology has led to the need for more effective threat matrix solutions, and businesses should start to prepare accordingly for a variety of threats.
"The threat matrix has evolved," he says.
"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 challenges."
Abdullah also says that resilience is vital in the current fast-changing landscape, and having a solid strategy and effective software solutions will help business longevity.
"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."
The MGBF hopes that by discussing these problems and coming up with solutions, Malaysian businesses can continue to operate in an effective way without the expansive risk and danger that is associated with threat actors.
MGBF was established to help assist and develop stakeholders at the intersection of international and Malaysian business. They work through a variety of channels, including government relations, business intelligence, advocacy, media engagement, market research, networking, advisory and business matching.