The Digital Ministry has disclosed that Artificial Intelligence (AI) is set to drive the nation’s economy and currently there are 140 AI solution providers who are listed in the Malaysia Digital AI ecosystem.

The companies involved have generated over RM1 billion in revenue within a year and this initiative has been incorporated by the Malaysia Digital Economy Corporation or MDEC and highlights the growth potential of the AI sector.

MDEC stated that the accomplishment of these AI solution providers has boosted productivity in small and medium enterprises (SMEs) to enhanced efficiency in large corporations and is starting to reshape the business environment.

The sectors involved in the MD AI Ecosystem are services, finance, digital cities and digital AgTech and a record of sorts has been set because all of the companies involved are local Malaysian digital firms.

For SMEs, AI adoption means increased productivity, reduced operational costs and access to advanced technologies that will allow them to take charge of the direction and shape of their enterprises while being competitive.

In the case of large corporations, they can use AI to streamline operations, automate complex processes and generate insights that can change the dynamics of a company in order to fuel growth and profitability.

-THE MALAYSIA VOICE