KUALA LUMPUR: The Malaysia Digital Economy Corporation (MDEC) has integrated 140 artificial intelligence (AI) providers, generating RM1 billion revenue, into the digital AI ecosystem through its AI initiatives.
According to Digital Minister Gobind Singh Deo, these companies highlight the sector's significant growth potential.
"Its achievements speaks volumes, the role AI is already playing in Malaysia, its economic transformation, and of course, its development hereafter," he said in his speech at MDEC's Malaysia Digital Tech Adoption Summit: AI today.
MDEC head of digital industry acceleration Ir. Wan Murdani Wan Mohamad said that the sectors involved in the AI ecosystem includes services, finance, digital cities and digital AgTech.
He added that all the companies involved are local Malaysian digital firms.
MDEC's summit acts as a driving force for cross-industry collaboration, gathering entrepreneurs, startups, industry leaders, policymakers, academics, and other key contributors to the digital economy.
It aligns with the objectives of the Malaysia Digital Economy Blueprint (MyDIGITAL), which aims to transform Malaysia into a digitally advanced, high-income nation.
With a focus on AI, the event supports the Fourth Industrial Revolution (4IR), aiming to boost productivity by 30 per cent through AI-driven solutions.
Digital Minister Gobind Singh Deo and MDEC chairman Tuan Syed Ibrahim Syed Noh officially launched the event.
Syed Ibrahim said to fully realise the potential of AI, it is crucial to foster a society where AI is accepted and integrated at all levels.
"This means investing in upskilling our workforce, promoting continuous learning, and ensuring that Malaysians from all walks of life have access to the tools and resources they need to participate in this AI-powered future."
"We are optimistic about the future of AI in Malaysia. The opportunities for growth, expansion, and diversification are vast."This summit is a significant step forward in shaping the national AI landscape, setting the stage for future advancements that will drive Malaysia to the forefront of global digital innovation," he said in his speech.
Syed Ibrahim emphasised the importance of addressing the ethical and societal impacts of AI as part of its development and adoption.
"We must ensure that AI is used responsibly and that its benefits are equitably distributed. Inclusivity and ethical governance will be key pillars as we continue this transformative journey," he adds.