Salutations

1. Yang Berhormat Tuan Syed Ibrahim Syed Noh Chairman, MDEC

2. Yang Berbahagia Datuk Fadzli Abdul Wahit Head/Senior Vice President of Digital Transformation,

MDEC Esteemed guests,

Members of the media,

Ladies and gentlemen.

Good afternoon, Salam Perpaduan, and Salam Malaysia MADANI.

1. I am delighted to be here, at a summit where I am confident we will learn more about digital adoption, especially the use of artificial intelligence (AI), in our daily lives.

2. I stand here extremely optimistic about the ever-evolving digital technology, namely AI. Such technology has transformed the way we, the rakyat, communicate with public services, banks, and even utility companies.

3. AI is rapidly reshaping how we work, interact and live. AI stands as a transformative force, one that is changing the dynamics of industries across the globe. It is opening new opportunities, offering us a competitive edge in the global marketplace. As for the use of AI in our daily lives, people are excited about what this technology can offer, and how businesses are moving towards the future with AI in an increasingly digital Malaysia.

4. This summit is more than just a meeting of minds. It is an essential platform for exploring the immense potential that AI holds for Malaysia’s future. This event gives us the space to foster collaborations, exchange ideas, and engage with some of the brightest minds in the field.

5. The numerous initiatives by the Government to help boost the adoption and adaption of digital tech shows our commitment to nurturing and fostering innovation. This is especially so in areas that will be critical to our future economic development.

6. The Malaysia Digital Economy Corporation (MDEC), through its AI initiatives, has successfully onboarded 140 AI solution providers into the Malaysia Digital (MD) AI ecosystem. These companies have generated an impressive RM1 billion in revenue, underscoring the vast growth and promise of Malaysia’s AI sector.

7. This achievement speaks volumes about the role AI is already playing in Malaysia’s economic transformation. From boosting productivity in small and medium enterprises (SMEs), to enhancing efficiency in large corporations, AI is reshaping the business landscape.

Ladies and gentlemen,

8. The Malaysia Digital Tech Adoption Summit offers a unique platform for partnerships and collaborations. A notable feature of this summit is the AI Adoption Business Matching Session. This session aims to foster collaboration among SMEs, large enterprises, and tech providers, enabling AI-driven projects that can transform industries, and spur economic growth.

9. The benefits of AI adoption are far-reaching. For SMEs, AI adoption means increased productivity, reduced operational costs, and access to advanced technologies that allow them to stay competitive. Large enterprises, meanwhile, can leverage AI to streamline operations, automate complex processes, and generate 4 insights that fuel growth. AI is reshaping how we work, how we all interact. It is changing the dynamics of industries across the globe.

10. Datin Habsah from Petronas, who is here with us today, will be the best person to walk us through some of the AI initiatives by oil & gas players. I remember reading about the use of VROC (Virtual RAID on CPU) AI in the oil & gas industry. Such technology offers the solution to harness the power of data by providing planned and predictive maintenance. This is an evolution from the condition-based monitoring and traditional analytics, to maintenance powered by predictive analytics.

11. I believe Petronas has also established an AI Centre of Excellence to accelerate advancement of AI solutions that support energy delivery, operational efficiency and sustainability, through collaboration with a network of global partners.

12. Tech providers, on the other hand, will find opportunities to showcase their innovative solutions, and open up new markets. For the government, these initiatives will drive the Industry 4.0 transformation, and position Malaysia as a regional leader in the digital economy. This is crucial as Malaysia assumes the ASEAN chair next year.

Ladies and gentlemen,

13. By 2030, AI is expected to generate approximately US$115 billion in productive capacity for Malaysia. This contribution to our national GDP demonstrates AI’s potential across a variety of 5 sectors; manufacturing, healthcare, finance, and public services among them.

14. The AI Adoption Business Matching Session will establish partnerships between SMEs, large corporations, and tech providers, laying the groundwork for pilot projects and real-world AI use cases.

15. These projects will not only drive innovation but also provide a clear pathway for scaling AI adoption across different sectors, benefiting businesses and the Malaysian economy as a whole.

16. The government remains committed to supporting the digital transformation through strategic frameworks such as the Malaysia Digital framework and the National AI Roadmap. These initiatives provide the necessary infrastructure, policies, and incentives to support the growth of AI across industries. Malaysia is rapidly emerging as an AI hub in Southeast Asia, and we are dedicated to maintaining this momentum.

17. In June 2024, MDEC and Dattel Asia Group launched the MyDataHub.Ai platform to help SMEs gain access to RM150 million in financing. MyDataHub.Ai connects businesses and partners on the platform. In addition to access to financing options, the platform allows the exchange of data and strategies. In just three months, I am happy to highlight that this platform has reached out to more than 10,000 MSMEs. A total of 3,613 of them have expressed interest to onboard onto the MyDataHub.Ai platform, while 372 MSMEs have completed their onboarding, and have started to benefit from services offered via MyDataHub.Ai.

18. As AI continues to evolve, so too will the opportunities for our workforce. AI will not only create new roles across sectors, but will also enhance existing jobs, demanding a workforce with higher-level skills. Our commitment is to equip the workforce with advanced digital skills, ensuring they remain competitive and future-ready. At the same time, AI will foster job creation in sectors that benefit from this technological advancement, offering new opportunities for personal and professional growth.

19. One of the core principles guiding our digital transformation journey is inclusivity. Our vision aligns closely with Ekonomi MADANI, where technological advancements benefit all segments of society equally. This vision drives us to ensure that the digital economy grows inclusively, promoting both economic prosperity and social equity.

20. AI holds the potential to elevate everyone, from businesses to the rakyat. My Cabinet colleagues too are paying close attention to AI. The Minister of Defence, Dato’ Seri Mohamed Khaled Nordin recently said his ministry is considering intensifying the use of AI in the military sector to further strengthen Malaysia’s defence capabilities. Our role as the government is to ensure that the benefits of AI and digital transformation reach every corner of society - from military to SMEs. We are committed to creating opportunities that allow everyone to participate and thrive in Malaysia’s digital future. Distinguished guests, ladies and gentlemen,

21. As we look forward, let us remember that the journey of digital transformation is a collective one. The commitment and collaboration of all stakeholders, government, businesses, academia, and the rakyat are essential to realising the full potential of AI. We envision a country where all layers of society can adopt technology and utilise AI.

22. This includes looking into how technology helps individual businesses in its operations -- whether or not there is a need for SMEs to transform. We encourage collaboration, discussions on how we can use AI to move the digital economy. We must look at how technology can strengthen our businesses, how to ptimese businesses and build a more efficient ecosystem. If we don't, then our regional partners will move ahead. We have to take full advantage and transform ourselves, to be prepared and work towards becoming a digital nation.

23. Together, we can build a Malaysia that is not only a participant in the global digital economy but a leader in it. Let us embrace AI as the key to unlocking a future that is innovative, inclusive, and prosperous.

Thank you. -END-