MDEC's DataKITA empowers M'sia's digital ecosystem

• MDEC to host AI and Data Week 2020 from Oct 25 to Oct 29
• Data-driven spending to reach US$1.9 billion by 2025, says IDC

 Data continues to be a hot commodity that creates a vast supply of opportunities with the emergence of cloud computing, artificial intelligence (AI) and machine learning, according to the Malaysia Digital Economy Corporation (MDEC).

In a statement, it said this is due to the rapid advancement of digital adoption, which has been a disruptive force within the business community.

Ciring a report by IDC, MDEC said the total amount of data generated in the world last year was estimated at 64.2 zettabytes (1 zettabyte: a trillion gigabytes).

“With new information being generated every second, data should be treated as the ‘oxygen’ for the digital economy that needs to be harnessed for shared prosperity and value innovation to enable new sources of growth,” said Aiza Azreen Ahmad, chief digital business officer, MDEC.

“Businesses that embrace data tend to be more agile and innovative, especially during these trying times. At the national level, data-driven decisions benefit the country, be it economically or in managing the Covid-19 pandemic,” she added.

Responding to the digital evolution, MDEC has introduced the DataKITA initiative to prepare the digital ecosystem in adapting to the new world order of data utilisation, particularly one that is driven by the Fourth Industrial Revolution (4IR) technologies.

Launched in Nov 2020, the DataKITA initiative sees MDEC joining forces with the industry to provide an impetus for businesses to kickstart their data transformation journey through a structured approach as well as leveraging data literacy, data analytics, governance, data sharing and AI.

With aims to raise the availability, accessibility and usability of data in Malaysia, the DataKITA initiative is standing on four strategic pillars:

• Knowledge: Promote data literacy;
• Infrastructure: Foster a data-driven environment;
• Talent: Facilitate development of data professionals; and
• Action: Accelerate business enterprises to be data-driven and AI-ready.

The four pillars will ensure that the beneficiaries of the initiative are catalysing a thriving data ecosystem, MDEC said.

Aimed at stimulating a mindset change and encouraging knowledge sharing on technology adoption, DataKITA serves as Malaysia’s aspiration in fortifying the efforts towards meeting the 4IR standards.

Additionally, MDEC said DataKITA gears up Malaysia to tap into the lucrative data economy, which IDC has projected Malaysia’s data-driven spending to reach US$1.9 billion (RM7.95 billion) by 2025 from US$1.1 billion (RM4.6 billion) in 2021.

By controlling its data destiny, it said Malaysia can be a digitally sovereign nation that leads an innovative digital economy, in line with MDEC’s mission to create a digitally integrated society that is driven by a sustainable and inclusive digital economy._­

With the Covid-19 pandemic showing at great length how data fluency could save lives by enabling businesses to continue operating, MDEC strives to equip local trailblasers with the tool kits to survive the new normal, it said.

Data week 2021

Meanwhile as part of the DataKITA initiative, MDEC will be hosting the AI and Data Week 2021 (AIDW 2021). Starting from Oct 25, the week-long event aims to position Malaysia as a thought leader for the regional digital hub for data, AI and Internet of Things (IoT).

It said the goal of AIDW 2021 is to help catalyse the mindset integration as well as the adoption of data, AI and IoT among the attendees and participants through various captivating events that will be held during the week.

The virtual event welcomes industry players, data professionals, data communities and tech startups to engage with business enterprises, working professionals and government officials, it added.

Its anchor event, held on Oct 26 October, will feature insightful speakers in the areas of AI and data such as Nikolai Dobberstein, partner and Asia Pacific head of communications, media and technology, Kearney; Carl Ward from Amazon Web Services and Laurence Liew of AI Singapore.

For more information on DataKITA, visit here.