Press Release: The Future of Tech Industry

img | March 7, 2023

Hello Tech Enthusiast,

I am Furqon, a Bukit Vista storyteller. Today I’d like to share our recent inspiring talks about the future of the tech industry. It would be very exciting!

What is up with the tech industry?

Yes, this would be every tech enthusiast’s question after seeing countless tech companies layoffs. However, is it the truth that the tech industry would collapse? CEO Mamikos, Maria Anggit, did not think so. She expressed that the tech industry is now evolving greater than before and the market is becoming more efficient and sustainable. One parameter that we can take a look at is now consumers have countless service choices to fulfill their needs. 

CEO of Qasir, Rachmat Anggara, approved what Anggi had said. He added that now the tech companies started to focus more on revenue growth, passing the era of user growth. Taking another perspective, CEO Rakamin Academy said that yes the tech market is growing, but there is not enough supply to match the demand. That is why tech companies compete competitively in hiring as many as they can to secure the “perceived” best talent, until they realize it is not worth it. The rest is history, tech companies suffer overhiring and have to lay off some of their talents. 

However, the Managing Director of Girls in Tech Kuala Lumpur – Elizabete Kalnozola – reminded us that tech is not only an industry, but indeed tech is in every industry. Yes, big tech companies are laying off their employees, but now we also see many tech startups rising upward. That is also part of the tech industry that we can’t forget.

To conclude, the tech industry is actually fine. Yes, the industry isn’t quite as brilliant as it was before, but it’s just a normal cycle of any industry that’s maturing..

Ok then, will newcomers still have a chance to start a career in the tech industry?

Based on our panel discussion, the outlook is optimistic. Nonetheless, new hires will need to step the game as the competitor is now all over the world. Elizabete advised doing a hackathon is a good starting point. Try new things, do not be afraid of making mistakes while you’re in the phase of learning, that’s where you will learn most. But, doing a hackathon would only leverage your hard skill and there is one other thing – arguably – more important to have, which is soft skill. 

As Anggit and basically every speaker said, the tech industry is now being fragmented and adapted into so many industries. Thus, having soft skills like being agile and adaptive is indeed crucial. Anggit followed, the most important soft skill that one should possess if they are interested in jumping to the tech industry is to listen deeper. Listening deeper is a technique to understand the core problem by observing the situation deeply. This is a critical skill to be possessed by everyone living in an agile environment so they can do effective prioritization.

To compliment, Angga added that having a growth mindset is the key to success in the tech industry as the industry evolves over time. Having the growth mindset team will also help you to achieve beyond your expectation. Another unique perspective coming from Andika. He mentioned that top university students tend to set a higher expectation that they will “easily” get the job after graduating as they hold an elite campus title. The truth is, that’s never been the case. Recruiter will see and recruit you if you’re meeting a skill set and attribute required for the role, no matter your education and university background. This is actually aligned with what Angga just mentioned about having a growth mindset. 

Conclusion: Is the tech industry doomed in 2023?

All speakers agreed that the tech industry isn’t doomed right now. Yes, the industry is declining at the moment, but it is still way greater (10 times bigger) than it was a decade ago. In fact, tech industry still has a spare to bring the industry up again.

Speaking of which, Bukit Vista is opening some tech vacancies. Should you be interested, feel free to check our job page

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