CADS to drive Malaysia towards US$32bil AI market

• Form a guideline to determine the right skills, opportunities for local talent to thrive in the AI industry
• Framework will be continuously updated based on new developments in the AI field

ARTIFICIAL Intelligence (AI) is developing faster than imagined. Lives are being enhanced by AI or at least, with technologies and applications using algorithms that monitor and learn from human behaviours and big data.

Recognising the opportunity that the AI industry represents, The Center of Applied Data Science (CADS), a one-stop platform and centre of excellence for data science in Malaysia and Asean, has developed the CADS AI Talent Framework.

The AI Talent Framework, which focuses on designing future-ready AI talent, will form a guideline for CADS as well as for the relevant stakeholders in Malaysia to determine the right skills and opportunities needed for local talent to thrive in the AI industry, be it for the current market and in the future.

According to Sharala Axryd (pic), founder of CADS, “Given that the global artificial intelligence market will reach US$32 billion (RM132.4 billion) by 2024, growing at a compound annual growth rate (CAGR) of 44% (based on a report by KBV Research), it is essential for Malaysia to be AI ready.

“AI is not just one skill, one job description. This is where our AI Talent Framework comes into play. Through this framework, we are able to identify new job roles, job functions and descriptions as well as career progressions of those in the AI market.”

In tandem with the AI Talent Framework, CADS is developing various opportunities for Malaysian talent to grow in the AI industry. A Memorandum of Understanding (MoU) is being finalised with a leading AI venture company in Japan to host selected talent from Malaysia in Tokyo for advanced AI industry placement with the possibility of absorption.

Additionally, CADS is working on a MoU with Penang Skills Development Centre (PSDC) to build the first AI Workforce Analytics platform that drives the AI initiative for skills development within the Northern Region. The platform will see the development of future-ready AI capabilities and solutions that will contextualise human capital analytics for organisations in Penang.

In supporting this initiative, Muhammad Ali Hajah Mydin, chief executive officer of Penang Skills Development Centre, said, “Penang has made great progress into becoming an economic powerhouse both in Malaysia and Southeast Asia. However, organisations need to be digitally ready to keep up the pace of growth.

“A technology intervention is necessary, and we are pleased to be working with CADS as they have tremendous experience in this arena. Through this initiative, we hope not only to develop and nurture the culture of embracing data-driven solutions but also lead the way in moulding industry ready talent.”

“All in all, CADS intends to keep the momentum going by enhancing our existing and future data science talent pool with the skillsets to take advantage of the high growth AI landscape. We are being recognised as having world-class data science capabilities, which is why Japan is looking at Malaysia for data science talent.

“An expansion to Singapore is also allowing us to expand our footprint in the Asean market. Our AI Talent Framework will enable CADS to be well positioned to be ahead of the trend, delivering solutions and talent to the needs of industries in relation to AI,” Axryd concluded.

The AI Talent Framework was developed by CADS’s team of data scientists and industry experts. The framework will be continuously updated based on new developments in the AI field as well as feedback received from experts through CADS’ partnerships and collaboration.