- Artificial Intelligence (AI) has significantly reshaped the global economic development. It has emerged as the bedrock of the Industrial Revolution 4.0, driving unprecedented efficiency gains, error reduction, and cost optimisation across various sectors.
- The introduction of ChatGPT, in particular, even exemplified the potential of AI in showing incredible capabilities of adaptability and creation. Its rapid growth and integration into various industries have highlighted the demand for new AI-powered solutions.
- However, it is a double-edged sword that generates some concerns over privacy, reliability, and accuracy. Technical unemployment is the most significant factor that drives public fear.
- To equip itself with a better environment and ecosystem for development, Malaysia should learn from other regional peers, particularly Singapore the second highest in the AI Readiness Index 2023.
- Some recommendations for developing a better ecosystem in Malaysia:
a. Review and establish regulatory framework;
b. Awareness and knowledge building;
c. Promote research and development (R&D);
d. Testbeds and sandboxes in partnership with the stakeholders;
e. Enhance educational, reskilling and upskilling programs;
f. Special visa for foreign professionals and graduates.
