Speech by YB Wong Hon Wai,
Political Secretary to the Chief Minister and State Assemblyman for Air Itam at Alibaba.com Convention at Traders Hotel Penang on 13-8-2014
Mr Thomas Ho, Senior Country Manager of Alibaba.com
Mr Fong Wai Leong of Panpages Berhad
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Mr Thomas Ho, Senior Country Manager of Alibaba.com
Mr Fong Wai Leong of Panpages Berhad
Good morning. It is my pleasure to represent the Chief Minister of Penang, Mr Lim Guan Eng to address the entrepreneurs.
1. As all of you know that, we have undergone a great change in the IT era. It is not only changes, but a revolution in the history of human civilization. If you track the changes of computing power, you will start appreciate that it not changes the size of your computer,your reading habit, how you spend your time, your resources and your money but whole of your life.
2. I was using dumb terminal connected to an UNIX server, using vi editor to code Pascal. I was using lynx (a text based Internet tool, no Graphical User Interface) ) to connect to Internet. That was 20 years ago during the dinosaur age.
3. Now, every handphone is a computer and gateway to Internet.
4. This will of course provides great opportunity for the enterpreneurs to enter into electronic commerce and ride on it.
5. I would like to share with you some pointers from the book called “Big Data: A revolution that will Transform how we live, work and think” by Viktor Mayer-Schonberger and Kneeth Cukier.
6. We have been living in a small data environment all this while. We have limited computing power then, we depend on sampling to draw inference and hypothesis.
7. But, now big data is distributed among countless servers around the world. The big step in managing data is digitization – making analog information readable by computers which also makes it easier and cheaper to store and process.
8. There is another new concept – datafication - a concept that transform all things under the sun into a data format to make it quantified. This allows us the use the information in new ways For instance we have “social graph” in twitter, LinkedIn and Facebook that map users relationship and turned into data.
9. Data now became a significant asset for corporate. It challenge us to think how to collect, organize, store and anayze the data. We are now exploring on human’s ability to analyze vast amounts of data and using all the data at hand instead of just a small portion of it.
10. The challenge remains how to use use all the data to spot connection and details that are otherwised dissipated in the vastness of the information.
11. Look at some of the great Internet site: Google, Facebook, Amazon, Alibaba etc and you will appreciate that we have entered the “Big Data” age.
12. In this Internet age, the Penang State Government is always embracing the challenges. The Penang State Government had signed a RM11.3 bilion JV agreement with Singapore’s Temasek Group to carry out the Penang International Techonlogy Park in Batu kawan and Business processing Outsourcing(BPO) in Bayan Baru that will create 21,000 high value jobs.
13. We also recently announced the Seagate’s entry into Batu Kawan with a reinvestiment of Rm1.05 billion investment over 5 years . Seagate will purchase a piece of land of 50 acres with the option to purchase another 30 acres in Batu Kawan Industrial park.
14. Penang will continue to support its manufacturing sector for further growth which has contributed almost 50% to GDP of Penang for the past 5 years.
15. There is also a surged of Shared Services Outsouring of SSO investors in penang such as Citigroup, Air Asia which offer high income and high value jobs to locals during the last 2 years.
16. Entrepreneurs in Penang will have to tap on the technology changes and embrace on the electronic commerce and compete in the global level.
Thank you and Have a fruitful convention.
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