The rapid advancement of digital adoption has been a disruptive force within the business community. Data has been a hot commodity in this new landscape that creates a vast supply of opportunities with the emergence of cloud computing, artificial intelligence (AI) and machine learning.
According to an International Data Corporation report, the total amount of data generated globally last year was estimated to be 64.2 zettabytes (1 zettabyte: a trillion gigabytes). The massive amount of data indicates that data represents every aspect of human life.
“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.
“Businesses that embrace data tend to be more agile and innovative, especially during these trying times. We have seen many that have been flourishing from creative business models compared to others who are struggling to survive. At the national level, data-driven decisions benefit the country, be it economically or in managing the COVID-19 pandemic,” said Aiza Azreen Ahmad, Chief Digital Business Officer (CDB), MDEC.
Responding to the digital evolution, Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead digital economy agency, 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 November 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
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.
DataKITA serves as Malaysia's aspiration in fortifying efforts towards meeting the 4IR standards as well as the fast changes of disruptive technologies that have been proven to exponentially transform the global economic landscape, in line with Malaysia Digital Economy Blueprint (MyDIGITAL) and the National Fourth Industrial Revolution (4IR) Policy.
Additionally, 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 by 2025 from US$1.1 billion in 2021. By controlling its data destiny, 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 showed at great length how data fluency could save lives by enabling businesses to continue operating, MDEC strives to equip local trailblazers with the tool kits to survive the new normal.
As part of the DataKITA initiative, MDEC will be hosting the AI and Data Week 2021 (AIDW 2021). Starting from 25 October 2021, AIDW 2021 is a week-long event that aims to position Malaysia as a thought leader for the regional digital hub for data, AI and Internet of Things (IoT).
The goal of AIDW 2021 is to catalyse the mindset integration and adoption of data, AI, and IoT among attendees and participants through a series of captivating events held throughout the week.
The virtual event invites industry participants, data professionals, data communities, and tech startups to network with business enterprises, working professionals, and government officials.
Its main event, on October 26, will feature insightful speakers in the fields of AI and data, including Nikolai Dobberstein, Partner and Asia Pacific Head of Communications, Media, and Technology at Kearney; Carl Ward from Amazon Web Services; and Laurence Liew of AI Singapore.