Malaysia, like many other countries, is relentless in its quest for embracing the latest technological advancements. Our fifth and final part of the interview with Catherine Lian, MD of IBM Malaysia, focuses on what’s next for the country.
With the pursuit of 5G right in its sights, the country is ready to integrate elements like AI, IoT, cloud computing and big data in an Industry 4.0 framework on a blockchain platform. According to the World Economic Forum, the amount of data produced daily will continue to rise from 1.7MB per second per person to reach 44 zettabytes for the entire world by the end of 2020.
We asked Lian about how blockchain could fill the void in terms of managing all this data. “Now that blockchain solutions are capturing millions of data points and making their presence felt in the world, they’re opening the door to new capabilities…adjacent technologies such as IoT, 5G, AI and edge computing that are combined with blockchain will create next level advantage and drive enhanced value for network participants,” she added. For example, blockchain solutions that pair with the IoT and AI are expected to be the top accelerators of blockchain-enabled marketplaces in the future.
Lian said that combining adjacent technologies with blockchain will also help companies to do things that haven’t been done before. “More trustworthy data from the blockchain will better inform and strengthen underlying algorithms…blockchain will help keep that data secure and audit each and every step in the decision-making process, enabling sharper insights driven by data that network participants trust,” she elaborated. As such a clever combination of AI, Blockchain, Cloud and IoT technologies would produce business outcomes that enterprises need for their competitive advantage. First movers in this space would have a head start to learn from their experience and improve. “We already see by-products or outcomes coming to life out of innovation such as digital wallets, augmented reality, virtual reality and the use of gamification in different industries,” she stressed.
Interestingly, back in May of last year, it was announced that the Sarawak Multimedia Authority (SMA) entered into a Memorandum of Understanding (MOU) with IBM Malaysia to develop the use of Artificial Intelligence (AI) and Blockchain technologies. Lian was tight-lipped when asked if she could give us an idea about how things are progressing in this sphere. “We hope to announce good news on the progress of our MOU in Sarawak later this year, so watch this space,” she said good naturedly. It was reported earlier that The Sarawak Multimedia Authority (SMA) and IBM Malaysia had signed a Memorandum of Understanding (MoU) to collaborate in developing the digital industry in Sarawak. The agreement reportedly focused on the use of Artificial Intelligence (AI) and blockchain technologies. IBM will be responsible for ensuring the efficiency and effectiveness of the digital transformation in Sarawak.
With the tech firm’s participation, the state expects to achieve its target for economic growth set under Malaysia’s Digital Economy Strategy 2018-2022. The two parties are currently working together on a joint program at the Centre of Excellence for Digital Economy to facilitate research activities, business development, and the commercialization of research findings. Lian is of the opinion that there are also plenty of promising trends, but one thing is certain, blockchain will continue to disrupt, enhance and improve the world we live in.
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Anil started his career in journalism all the way back in 2003. After traversing the sphere of editorial, corporate communications and advertising, he has now come full circle and is back in the world of journalism. He believes in the power of the written word, and its ability to enthrall, delight and inform the reader.
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