February 28, 2024

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AI park in Malaysia to drive economy and boost AI governance

The world’s leading AI firm, a company that has one of the highest total financing and highest valuations in the industry, has signed an agreement with a Malaysian tech firm to build Malaysia’s first AI park.

The agreement, which was signed during last week’s Belt and Road Forum in Beijing, envisages a US$1 billion, five-year project to build a campus for research into computer vision, speech recognition, natural language processing and robotics.

In a press release, the two companies stated that the park would try and develop a “commercial ecosystem” to help Malaysia in AI governance.

During the forum, the AI firm’s Founder gave the Malaysian Prime Minister a demonstration of the company’s applications in autonomous driving, smart city, education and, healthcare.

It was noted that the AI company is honoured to be part of Malaysia’s new journey and look forward to working together with the Malaysian government, academia and business sectors, bringing its technological expertise and experience to Malaysia and building a better world with AI technology.

Earlier this month, the AI start-up also signed a strategic partnership with a US automobile electronics supplier. The companies will promote developments in intelligent cockpits. Founded in 2014, the AI start-up to date has received total funding of US$2.6 billion in capital funding.

It has been reported that Malaysia’s first artificial intelligence park will be developed by a trio of local and Chinese firms is expected to raise the country’s standing in the global race for AI supremacy.

The will also serve as a platform to groom local artificial intelligence talent, and support efforts to build a commercial AI ecosystem and advance AI research in Malaysia.

The Chairman of one of the collaborating firms noted that there is huge potential for AI in Malaysia. The idea to set up the AI park is vital to building AI research-related public service infrastructure as the base to promote AI technology in Malaysia. In addition, it will be a place for talent to be trained on AI and machine learning.

AI has become a tool for Malaysian organisations to glean business insights and increase productivity; it is expected that the AI park to have a “huge impact” on government agencies, as well as banking, manufacturing and healthcare industries.

During a demonstration of the AI firm’s capabilities in areas such as autonomous driving, smart cities, education and healthcare, Mahathir noted that there are plenty of application scenarios for those technologies in Malaysia. With a passion for driving, Mahathir also tried out a self-driving car system.

With advanced AI technology and extensive business experience, the AI firm is will be part of Malaysia’s new journey and will work in conjunction with the Malaysian government, academia and business sectors, bringing its technological expertise and experience to Malaysia and building a better world with AI technology.

Malaysia is one of the few countries with a national big data analytics framework to encourage the adoption of big data across industries. Building on this framework, the Malaysia Digital Economy Corporation (MDEC) is expected to introduce a national AI framework by the end of this year.

In 2018, MDEC teamed up with a Chinese cloud computing giant to roll out an AI platform aimed at easing Kuala Lumpur’s notorious traffic congestion.

Dubbed Malaysia City Brain, the platform harnesses the giant’s Cloud’s AI capabilities such as video and image recognition, data mining and machine learning, to analyse massive amounts of real-time data generated by 382 camera feeds and 281 traffic light junctions in the capital city.

However, despite the clear benefits of AI, however, only 41% of enterprises in Asia-Pacific have embarked on their AI journey, according to research.

AI is a game-changer and is key to driving competitiveness, not just for organisations, but also for economies, according to the Vice President of the research agency.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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