KUALA LUMPUR July 14 — Malaysia is currently in an excellent position to capitalise on the economic opportunities generated by the Internet of Things (IoT) technologies.

Head of KasperskyOS Business Unit, Andrey Suvorov said with the National IoT Strategic Roadmap in place, coupled with the established electric and electronic as well as telecommunication sectors and a strong small and medium enterprise sector, the IoT industry is set to excel in the country.

Citing data from the Malaysian Digital and Economy Corporation, he said Malaysia is expected to lead the growth of South-east Asia’s digital economy, which is predicted to expand to US$1 trillion (US$1=RM4.54) by 2030.

"IoT is the backbone of digital transformation as it helps businesses to improve efficiency through the automation of tasks and processes, while enhancing productivity and assisting companies to make better decisions.

"To this end, Malaysia will need to address the issues in setting up a comprehensive IoT ecosystem; standardising IoT technologies as well as security and privacy,” he told Bernama.

Suvorov said there is also a need to change the approach to cybersecurity to reap the full benefits of IoT in the digital economy while maintaining the security aspect at the same time.

"Here at Kaspersky, we have taken a specific approach known as Cyber Immunity, where the products are secure by design and will be able to withstand the majority of attacks without the need for additional protection tools,” he added.

Room for improvement in cybersecurity

Suvorov commended the Malaysian government’s upcoming launch of the National Cybersecurity Commission, and noted that the government has always been proactive in the area of cybersecurity.

Nonetheless, he said that there is still room for improvement in the sector, and emphasised that businesses need to invest in security training for employees, given the shortage of cybersecurity professionals.

At the same time, the media should raise awareness on cybersecurity among consumers, as the professional community needs to grow.

"It is also important to work hand-in-hand with the public and private sectors, especially in pooling resources, sharing of information, intelligence and joint solutions in combating cybersecurity challenges,” Suvorov said, noting that CyberSecurity Malaysia has a team working on the Malaysian Vulnerability Assessment Centre.

He said that Kaspersky has joined the Malaysia IoT Association recently, and plans to contribute towards enhancing Malaysia’s cyber resilience, together with other market players in the IoT value chain.

"It is always a good idea to cooperate with global cybersecurity experts to stay updated on the latest trends, share the expertise and grow the knowledge base,” he said.

Kaspersky is a global cybersecurity and digital privacy company, with expertise in threat intelligence and security, offering leading endpoint protection and specialised security solutions to over 400 million users and 240,000 corporate clients worldwide. — Bernama