This commentary was contributed by Catherine Lian, Managing Director and Technology Leader of IBM Malaysia
As Malaysia awakens to our 66th celebration of independence today, this Merdeka Day resonates deeply with our hearts and minds at IBM.
This year’s theme, “Malaysia MADANI, Tekad Perpaduan Penuhi Harapan,” translating to “Malaysia MADANI, Unity Determined to Fulfil Hope,” echoes our sentiments precisely as we reflect on Malaysia’s past, present and promising future ahead.
Today, technology is far beyond a mere convenience or ‘nice to have’. Instead, it is a ‘must have’, an enabler of growth and progress. The Digital Economy is disrupting traditional economic models, giving rise to new digital platforms powered by Artificial Intelligence (AI) and hybrid cloud infrastructures.
AI stands at the heart of this technological revolution, acting as a catalyst in the transformation of industries: From financial institutions to government agencies that deliver public services to the rakyat and SMEs as the critical backbone of Malaysia’s growth.
An IBM 2023 CEO Study, where IBM surveyed over 3,000 CEOs worldwide including Malaysia, underlines that 75% CEOs surveyed believe that competitive advantage will depend on who has the most advanced generative AI.
To that end, an exemplary case is IBM collaborating with its ecosystem business partner, GlobeOSS, in helping businesses in telco and other industries by introducing AI-powered technology solutions like watsonx to reach their full potential. This includes optimising production processes, reducing operating costs and unlocking new business opportunities and profitability.
Another shining example concerns the Financial Services Industry (FSI), an industry that has wholeheartedly embraced technology to drive innovation. Prioritising cybersecurity, core banking modernisation, and embracing technologies like AI and hybrid cloud have become key strategies for success.
The FSI sector’s aggressive adoption of technology extends to SMEs as well, highlighting the widespread digital transformation in the country.
Take for instance, Safeguards CS Sdn Bhd, a new retail banking start-up based in Malaysia, which had implemented the Power Virtual Server (PVS) on IBM Cloud for payment workloads. Safeguards was using Silverlake Axis’s payments application, IntelliPayz and wanted to host it on the cloud.
IBM PVS was able to support Safeguards needs, enhance customer experience and maximise business value. The strategic collaboration between IBM and its ecosystem partner, Silverlake Axis, ensured smooth implementation, in line with Safeguards’ vision to drive productivity while optimising cost.
However, the path to harnessing the full potential of the digital economy is laden with challenges such as technology modernisation, policies that promote digital adoption and the acquisition of necessary digital skills and expertise.
Recognising this, IBM, as a long-standing technology partner in Malaysia, is committed to collaborate with the private and public sectors to help the nation address these pressing challenges through various advanced technology solutions and initiatives such as watsonx and Skillsbuild.
Technology has to be seen as an enabler that opens up new opportunities that expand the economic pie so that more people are able to share the wealth and thus increase inclusivity. It is imperative that technology acts as an enabler that does not leave anyone in society behind.
As we stand on the 66th Merdeka Day, we at IBM take immense pride in being part of Malaysia’s journey.
Upholding the spirit of “Malaysia MADANI, Tekad Perpaduan Penuhi Harapan”, we celebrate unity, harmony, and hope.
Together, let’s continue on this path of technological prosperity, driving toward a future that fulfils the hopes and aspirations of all Malaysians. Selamat Hari Merdeka 2023!
Note: Catherine Lian is Managing Director and Technology Leader, IBM Malaysia