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Launching AI Sandbox, Malaysia targets to create 900 startups by 2026

AI Sandbox Pilot Program is designed to boost the adoption of AI technology across Malaysian organizations, effectively narrowing the gap between existing practices and global industry norms.

Sinta by Sinta
May 8, 2024
in News, Technology
0
Illustration of AI technology. Credit: Igor Omilaev/Unsplash

Illustration of AI technology. Credit: Igor Omilaev/Unsplash

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Heaptalk, Jakarta — Malaysia launched the AI Sandbox program in collaboration with Nvidia through the Ministry of Science, Technology, and Innovation (Mosti) to create 900 startups by 2026.

AI Sandbox Pilot Program is designed to boost the adoption of AI technology across Malaysian organizations, effectively narrowing the gap between existing practices and global industry norms. The initiative encourages the execution of trial projects and proofs of concept within these organizations, showcasing AI technology’s tangible benefits and viability while highlighting its potential for significant return on investment and enduring advantages.

Moreover, the program is set to enhance collaboration and knowledge sharing among stakeholders. This effort aims to facilitate the exchange of vital best practices and resources essential for developing, deploying, and adopting AI, further enriching Malaysia’s AI ecosystem. The Malaysian Research Accelerator for Technology and Innovation (Mranti) will lead the secretariat for the National Technology Innovation Sandbox (NTIS).

Bags US$209 million in revenue by 2030

Minister of Science, Technology, and Innovation Chang Lih Kang emphasized that this step is a testament to Malaysia’s unwavering commitment to driving innovation and competitiveness globally. This program’s launch aligns with the country’s national goal of incubating 100 AI companies to generate RM1 billion, approximately US$209 million (US$1 equals RM4.7) in revenue by 2030.

“The program envisions facilitating the establishment of up to 900 AI startups by 2026, nurturing the development of over 13,000 new AI talents and potentially stimulating up to 10% economic growth through the creation of new industries and job opportunities, we are setting a new benchmark for Malaysia’s presence on the global stage,” said Minister Chang Lih Kang, as quoted by TechNode Global.

With Nvidia‘s support, Mosti said the AI Sandbox program will further address AI training and capacity building, ensuring Malaysia’s workforce remains competitive and adaptable in the rapidly evolving landscape of AI-driven industries. Nvidia functions as a technology partner under NTIS Innovation Acceleration Network Partner (IAN), with support from Nvidia’s AI-related capability-building program.

Applicants will gain seamless access to specialized labs without the logistical burdens of setting up individual environments or sourcing their data. This collaborative initiative then optimizes the testing process for AI technologies within a professional and conducive environment.

Tags: malaysia ai sandbox programMinistry of Science Technology and Innovation of MalaysiaMosti Malaysia

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