Ronald Attard, EY Malta Country Managing Partner and EY Central and Southeast Europe TAS Leader, said that the EY Attractiveness Survey had highlighted Malta’s ability to use its size to its advantage, “by being nimble and agile in our approach to stimulating the growth of new sectors.”
“The country offers the perfect place to test and pilot disruptive technologies which would attract even more FDI and turn our islands into an attractive hub for tech start-ups,” Mr Attard told the Parliament of Enterprises organised by the Malta Chamber.
“Technology is evolving at an incredibly fast pace. Over the last few years we have seen the emergence of a multitude of technologies globally. Today’s rapid pace of technological innovation, from AI to blockchain, is impacting business models and processes.”
“AI opens up a wide range of opportunities. Voice-based virtual assistants have already brought AI into the home and office, making it accessible to the general public. Yet despite a half-century of academic pursuit, the broad field of AI remains nascent and emergent, with many advancements still to come.”
Mr Attard said that in this framework, cross-sector innovation is a must. “Businesses must join forces and embrace these new technologies and the country must invest in its workforce to allow it to adapt to the changes ahead and keep up with its competitors.”
“Our survey highlights that investors call for a greater focus on research and development. The demand for skilled workers is also higher than the supply, and there is a mismatch between education and industry needs. We must therefore continue to focus on upskilling and reskilling in this sector, because disruptive technologies are the future, and Malta can play a key role in this field.”