OpenMinds Unveils Comprehensive Findings on Business Digitalisation in Malaysia

Leading Southeast Asian MarTech company OpenMinds Group has unveiled its findings on the state of digitalisation among Malaysian businesses. The findings provide a detailed look at how Malaysian companies are navigating the complexities of digital transformation, with a strong emphasis on ease of use, data security, and the evolving role of AI in the workplace.

Jan Wong, Founder of OpenMinds, said,: “We have provided data-driven, MarTech solutions to brands in over 20+ countries in the global market since 2012. The findings provide significant information that acts as a guide for organisations venturing into digital transformation in Malaysia. These insights identify the key areas where companies must focus their efforts in order to not only respond to the shifting digital environment but also gain a competitive edge and sustain growth. By focusing on the right priorities, companies can not only adapt but also thrive in an increasingly digital world.”

Key Findings of the OpenMinds Research

The following findings are based on market research conducted on behalf of OpenMinds from 2020 to 2023, with responses from 153 high-level Malaysian executives from various industries including accounting, manufacturing, construction, real estate, and financial services.

• Ease of use as a top priority. 56.6% of respondents prioritise ease of use when selecting new technology or software for their businesses. This shows a clear preference for tools that are easy to use and can be quickly integrated into everyday work.
• Data security takes centerstage. 73.3% of respondents identify the securing of data storage and backups as the most crucial step towards safeguarding their business operations. This finding highlights that businesses are prioritising the implementation of robust security measures to protect against data loss, whether due to hardware failures, cyber threats, or other unforeseen incidents.
• Emphasis on cybersecurity and training. 69.1% of respondents believe that implementing a robust password management system and regularly training staff on data security is essential for protecting sensitive information.
• AI adoption still is lagging. Despite the growing discourse around artificial intelligence (AI) and its potential to revolutionise business processes, only 28.9% of respondents reported using AI tools in their work. This low adoption rate points to a significant exposure gap, particularly among Gen Xers and Baby Boomers, who continue to make up a substantial portion of the workforce.

The recent findings are indicative of a changing attitude amongst Malaysian businesses. The findings also hint towards a maturity towards the use of digital tools in the market, with usability rather than complexity being a preference for most, but low AI adoption does highlight a risk-averse nature when it comes to newer technology solutions and services.

Businesses Realise They Need Digital Transformation to Remain Competitive

Digital transformation is no longer just a buzzword in Malaysia; it is now a necessity. A total of 5,331 companies have been granted Malaysia Digital (MD) status this year, with over 73% being local. This highlights the country’s adoption of cutting-edge technologies like Artificial Intelligence (AI), blockchain, IoT, and FinTech, supported by government incentives to strengthen the digital ecosystem. In this fast-changing landscape, findings from OpenMinds provide a roadmap for companies seeking to navigate these advancements.

“We can see that most people seem to be aware of gaps in their companies. Whether it’s choosing user-friendly tools that make life easier for employees, tightening up data security to protect what matters most, or cautiously exploring the potential of AI, the message is clear: staying competitive in today’s world means embracing digital change. This is a positive step forward and we remain confident that more businesses will focus more resources on digitalisation in the near future,” added Wong.

Founded in 2012, OpenMinds continues to set the standard in digital transformation while stepping into a new phase of expansion and vision. With a clear focus on strategic growth and the infusion of fresh perspectives, OpenMinds aims to push boundaries and achieve new heights in the evolving digital landscape.