Digital economy reportedly takes up 70% of Malaysia's RM225b investments

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Malaysia Investment, Trade and Industry Minister Zafrul Abdul Aziz, has reportedly said that almost 70% of the country's RM225 billion approved investments are in the digital economy.

In an interview with CNN, the minister reportedly explained that the country has what it takes to power artificial intelligence (AI) and bring the whole ecosystem into Malaysia.

Zafrul also reportedly said that the country has AI factories that were visited by Nvidia Corporation and added that the tech company, alongside other companies, have expressed interest to support the advancement of AI in Malaysia.

Don't miss: Why half of Malaysian CEOs have yet to adopt gen AI in their work

According to media reports, the minister also shared that AI would bring an increase in productivity. He also said that there are concerns about AI's impact on society but cannot deny that AI will bring a better quality of life. Zafrul reportedly added that jobs of the future may be different given the advancement in technology. This is especially with generative AI.

AI has been a hot topic in Malaysia as of late. Earlier this January, the Malaysian government launched 'AI untuk Rakyat' programme. The programme is a free self-learning portal to enable the masses to master basic AI skills in a four-hour module. It was built in partnership with tech giant Intel.

Meanwhile, Malaysian power producer, YTL Power was reportedly partnering with U.S. tech giant Nvidia to develop an artificial intelligence infrastructure in the country. The AI development project is expected to come in at a US$4.3 billion (or RM20 billion) investment deal and is expected to be operational by mid-2024, according to Reuters.

Under the deal, YTL Power and Nvidia will reportedly build supercomputers using Nvidia AI chips while YTL Power will utilise Nvidia's AI cloud computing platform to build a large language model in Malay.

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