KUALA LUMPUR: Digital Minister Gobind Singh Deo (pix) has urged small and medium enterprises (SMEs) to fully utilise and harness the power of artificial intelligence (AI) for their growth and success.
He said that the Ministry of Digital has a wide range of resources on that and is committed to helping the SMEs.
“By the end of 2023, the Malaysia Digital Economy Corporation (MDEC) had successfully profiled 122 local SMEs that have adopted AI solutions, with 68 of them being Malaysia Digital Status companies.
“It is crucial to highlight the significant role of digital transformation in ensuring the competitiveness of our SMEs across the global market,” he said in his opening remarks at the SME Association of Malaysia’s Chinese New Year dinner tonight.
He said that in this rapidly evolving technological era, digital transformation is a vital tool for SMEs to adapt and thrive.
“By embracing digital technologies, businesses can streamline their operations, enhance customer engagement, and secure a competitive edge on the international stage,” he said.
The minister said that digital transformation also provides an indispensable platform for SMEs to innovate their business models, products, and services.
“With digital technologies too, SMEs can leverage data analytics for informed decision-making, harness artificial intelligence for improved efficiency, and utilise e-commerce platforms to reach broader markets.
“Furthermore, digital transformation can enable SMEs to provide more personalised experiences to their customers, fostering customer loyalty and driving business growth,” he said.
However, he said that SMEs must note that the journey towards digital transformation requires holistic strategic planning and ongoing efforts.
“SMEs must be open to change, invest in the right digital tools, and upskill their workforce to fully leverage the benefits of digital transformation,” he added. -Bernama
