AI Adoption Set To Boost Malaysia’s GDP By USD 1 Trillion by 2030

Keynote speech by YB Tuan Gobind Singh Deo, Minister of Communications & Multimedia at Malaysia Rice Bowl Startup Awards 2018

As Malaysia rapidly digitises, AI adoption is essential for unlocking the country’s future potential. Emerging technologies, such as generative AI, are projected to contribute USD 113.4 billion in productive capacity by 2030. AI is expected to provide transformative economic benefits, potentially contributing up to USD 1 trillion to the region’s GDP by the same year.

Aligned with the Malaysia Digital national strategic initiative, the Malaysia Digital (MD) Tech Adoption Summit: Artificial Intelligence (AI) hosted by The Malaysia Digital Economy Corporation (MDEC) today (Sept 12) served as a catalyst for cross-industry collaboration, bringing together entrepreneurs, startups, industry leaders, policymakers, academics, and other key players in the digital economy.

The event showcased groundbreaking AI innovations, fostered business connections, and promoted the widespread adoption of AI technologies across diverse sectors.

The summit highlighted AI’s significant impact on all levels of the business ecosystem. Small and medium-sized enterprises (SMEs) can enhance productivity, reduce operational costs, and access advanced AI tools, while large enterprises can optimize operations through predictive analytics and automation.

For tech providers, the summit offered a platform to showcase innovative solutions, fostering collaboration with businesses across industries. For the government, the summit solidified Malaysia’s role as a facilitator of Industry 4.0 transformation, supporting its ambition to lead in the digital economy.

The summit was officially launched by Gobind Singh Deo, Minister of Digital, alongside Syed Ibrahim Syed Noh, Chairman of MDEC. This event reinforces MDEC’s role in Malaysia’s ambition to become the digital hub of ASEAN.

The summit aligns with Malaysia’s broader goals under the Malaysia Digital Economy Blueprint (MyDIGITAL), aiming to transform the nation into a digitally driven, high-income country. The event features a keynote speech by Datin Ts. Habsah Nordin, Head of the Artificial Intelligence Centre of Excellence at Petronas, along with a panel discussion addressing AI adoption opportunities and challenges.

Attendees participated in networking sessions, workshops, and business matching opportunities, where select AI companies presented their cutting-edge solutions, driving collaboration and innovation. MDEC remains dedicated to fostering growth through diverse initiatives, providing incentives and strategic support to advance Malaysia’s digital economy.

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