KUALA LUMPUR: Malaysia is stepping up efforts to harness artificial intelligence (AI), quantum computing and cybersecurity to drive economic growth, said Digital Minister Gobind Singh Deo.
He added that the nation’s growing focus on AI and data governance is important in reshaping Malaysia’s future.
“We must make a decision, whether or not, we are prepared to embrace transformation that will ultimately reshape our country’s economy, communities, and our lives,” he said at the launch of Nextbigtech Asia 2024 today.
Quantum computing is also emerging as a key focus area. “Quantum science and technology is another area that we need to look at, attracting almost US$40 billion (RM167 billion) globally in research and innovation funding from the public sector,” said Gobind, citing Malaysia’s potential in leading technological advancements.
He stressed that cybersecurity remains a priority as the nation embarks on its digital journey, highlighting recent legislative amendments aimed at bolstering data protection, including updates to the Personal Data Protection Act and the introduction of a new Cybersecurity Act in August.
“We will certainly do what is necessary to ensure that your data is protected at all times. The new laws require entities classified as National Critical Information Infrastructure to undergo stringent risk assessments to enhance cyber resilience.”
Gobind said the rise of AI and data-driven technologies has prompted the government to introduce new initiatives to support local businesses, particularly small and medium-sized enterprises.
“SMEs form the backbone of our economy, accounting for 97% of businesses. We are aware of the challenges they face in their digital journeys, and the Digital Ministry is ready to assist. “Through agencies like the Malaysia Digital Economy Corporation, companies can access mentorships, training, and funding to innovate and scale their operations.”
The minister said Malaysia has already seen significant digital investments totalling US$185.3 billion from 2021 to June 2024, with tech giants such as NVIDIA, Amazon, Microsoft, and Google making significant contributions.
“The prime minister has noted that the bulk of these investments came from these tech leaders, demonstrating the strength and potential of our digital economy,” he added.
Looking ahead, Gobind said Malaysia is preparing to play a pivotal role in regional digital cooperation as the nation is taking the Asean chairmanship in 2025. “With Malaysia taking the Asean chair next year, we look forward to working closely with other member states to boost 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 rapidly.
“In the next two or three years, we will see a change. I think that we are ready. If we do not step up our efforts to ensure there is infrastructure, cybersecurity, and sufficient talent, we too will be left behind,” Gobind remarked.
