Digital Transformation and the Rise of Gig Economy

Innovation

24
Jun 2021

10:00 am - 12:00 pm

SIDC LAMS

Speakers : Juarez Salih Lowe (Moderator) | Alejandro Kikuchi | Muna Munirah | Mohd Redzuan Affandi Abdul Rahim

5 CPE

MYR 350 *Fee is not inclusive of 6% SST

Digital Transformation and the Rise of Gig Economy

When we think of the gig economy, e-hailing services and start-ups generally come to mind, however, the gig economy actually refers to independent employment, over geographically expansive areas, or any temporary contract employment such as freelancing, temporary work and jobs in the sharing economies. Therefore, the notion of the gig economy worker is wide ranging to include anyone from a Grab driver or Airbnb host, to copywriters, graphic designers, translators, trainers, human resource professionals, coders, designers and data scientists. The gig economy also supplies the project managers, consultants and developers who are central to digital transformation initiatives that companies with a global reach often invest in.

Mckinsey in its report “A labour market that works: Connecting talent with opportunity in the digital age” estimated that the gig economy could add US$2.7 trillion per year or 2% to the global economy in 2025. According to Forbes, in the US more than one third (36 %) of U.S. workers are in the gig economy. In 2019, they contributed US$1.4 trillion to the US economy.

The gig economy in Malaysia in 2018 has over 4 million workers (representing 26% of total workforce) which is a 31% increase from 2017, surpassing the traditional workforce growth. These numbers are expected to grow rapidly with millennials continuing to dominate the workforce and the increasing number of Gen Z graduates entering the job market with their preferences to prioritise work life balance and autonomy. Consumer behaviour with their reliance on digital platforms for instant gratification and the disruptive impact of the Covid-19 pandemic on businesses with anticipated occurrences of salary cuts and retrenchments across industries will also see Malaysians, employers and employees alike, leveraging on the resourcefulness and advantages of the gig economy to deliver services and as the main source of income to make ends meet.

Programme Objective

This programme will provide insights on the rapid developments in the gig economy landscape, globally and in Malaysia including the role of digitalisation and the impact of the Covid-19 pandemic. This programme will also delve into the different composites of a gig worker and their motivations as well as the digital platforms that support the gig economy and enables businesses to scale up. Additionally, the programme provides insights on the policy directions for the gig economy, its synergies with the capital market, the case for widening the product suite and services to cater for the unique requirements of a gig worker and how businesses will forever be reshaped through the gig economy.

Mode

Live Webinar

Target Audience

Individual 

Business owners (Start-ups, SMEs), Consultants, Capital Markets Services Representative’s License Holders, HR Managers, Policy Makers, Directors, C Suite leaders, Key Management and anyone who has an interest in digitalisation and the gig economy

Institutions 

SMEs, Start-ups, Government Agencies, Consultancy Firms, Legal Firms, Accounting Firms, Fund Management Companies, Stockbroking Firms, Investment Banks, Commercial Banks and Public Listed Companies (PLCs)

Learning Outcomes

Upon completion of the programme, participants will be able to:

  • Describe the structure of gig economy and what it comprises
  • Identify the factors that enabled the rapid development of gig economy in Malaysia and in the region
  • Distinguish the concept of a gig worker in comparison to salaried worker
  • Discuss the success factors that led to the globalisation of gig worker and the role of digitalisation
  • Discuss the role of the capital market in relations to gig economy and gig worker
  • Describe the policy decisions developed in supporting the growing gig economy and gig workers population
  • Discuss how gig economy is reshaping future businesses

 

 

 

10.00 am – 12.00 pm

What do We Mean by Gig Economy?

  • Gig economy concept of “anytime, anywhere”
  • What the sharing economy reflects?
  • Gig economies in Malaysia and the region
  • Impact of digitalisation and the pandemic

The Gig Economy Worker Composite

  • The independent expert: Flexibility or on demand
  • The gig worker vs salaried employee
  • Digitalisation and the globalisation of gig worker

Capital Markets and the Gig Economy

  • Synergies between the capital market and gig economy
  • Widening the product suite for the gig worker
  • Policy decisions on gig economy
  • Reshaping and scaling-up businesses through gig economy

About the Speaker

Juarez Salih Lowe (Moderator)

CEO and Founder, Bumi Data Mining Sdn Bhd

Alejandro Kikuchi

Head of Asia, Workana

Muna Munirah

CEO, Qwork

Mohd Redzuan Affandi Abdul Rahim

Director of Sharing Economy Development Department, Malaysia Digital Economy Corporation (MDEC)

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*The SIDC reserves the right to amend the programme as deemed appropriate without prior notice

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