KUALA LUMPUR: Malaysia is stepping up efforts to harness artificial intelligence (AI), quantum computing and cybersecurity to drive economic growth, Digital Minister Gobind Singh Deo said.
He added that the nation’s increasing focus on AI and data governance is important in reshaping Malaysia’s future.
“We must decide whether or not we are ready to embrace a transformation that will ultimately reshape our country’s economy, our communities and our lives,” he said at the launch of Nextbigtech Asia 2024 today.
Quantum computing is also set to become a major area of focus. “Quantum science and technology is another area we need to look into, attracting nearly $40 billion (RM167 billion) globally in public sector research and innovation funding,” Gobind said, citing Malaysia’s potential for technological advancements.
He stressed that cybersecurity remains a priority as the nation embarks on its digital journey, highlighting recent legislative amendments aimed at strengthening data protection, including updates to the Personal Data Protection Act and the introduction of a new Cybersecurity Act in August.
“We will take steps to ensure your data is protected at all times. New laws require entities classified as critical national information infrastructures to undergo rigorous risk assessments to improve cyber resilience.”
Gobind said the rise of AI and data-driven technologies has prompted the government to introduce new initiatives to support local businesses, especially small and medium-sized enterprises.
“SMEs are the backbone of our economy, accounting for 97% of businesses. We recognise the challenges they face in their digital journey, and the Ministry of Digital is ready to assist them. “Through agencies like the Malaysia Digital Economy Corporation, businesses can access mentorships, training and funding to innovate and grow their businesses.”
The minister said Malaysia has already seen significant digital investments totalling $185.3 billion between 2021 and June 2024, with significant contributions from tech giants such as NVIDIA, Amazon, Microsoft and Google.
“The Prime Minister noted that the majority of these investments came from these technology leaders, demonstrating the strength and potential of our digital economy,” he added.
Looking ahead, Gobind said Malaysia is gearing up to play a pivotal role in regional digital cooperation as the country assumes the ASEAN chair in 2025. “As Malaysia assumes the ASEAN chair next year, we look forward to working closely with other member states to strengthen our digital capabilities and regional resilience.”
As Malaysia continues its digital transformation journey, he stressed the need for all stakeholders, industries, government and the public to adapt and innovate quickly.
“In the next two to three years, we will see a change. I think we are ready. If we don’t step up our efforts to ensure that there is sufficient infrastructure, cybersecurity and talent, we too will be left behind,” Gobind said.
