If we exclude the naysayers, industry anticipation of AI is actually running high. Folks like Wise AI’s David Lim take a pragmatic approach to AI capabilities, leveraging it to power Wise AI’s solutions in digital identity. 

So, when asked about what he looks forward to in terms of AI development in Malaysia and the region, David responds, “We need to assess AI readiness in the country, particularly the government, industry, academia and society, to ascertain the timing of deploying a national AI ethics framework and to define the principles that support the formation of an AI ethics framework.”

Rather than building an AI ethics framework from scratch, David observes that  a nation could map its existing relevant policies to vertical sectors, and build from that foundation.

While doing so, the principles of fairness, accountability, inclusiveness, reliability, privacy, transparency, safety, and security should be integrated into that AI ethics framework.

Potential pitfalls, best practices

“I applaud Southeast Asian countries’ recent stand in taking a friendly approach of (accepting) ‘AI guidance’, rather than unquestioningly accepting the European Union’s push to adopt the stringent AI Act framework,” said David.

He also opined that local regulations should help to build a safe and prosperous nation rather than constrict its ability to grow. 

“In Malaysia alone, the country has over 800 acts created by the parliament, and it should be about mapping the principles of AI ethics to existing regulations.”

Existing regulations could be updated and fine tuned so that they are relevant to current times and current needs of businesses, the country, and its citizens.

David also quoted a Kearney report, which states that by 2030, AI will contribute up to USD115 billion to Malaysia, which is up to 14% of the country’s GDP.  This is how significant and urgent it is for this country to put things into motion.

“Governments, businesses, and communities all have a lot to gain by embracing and leveraging the opportunities presented by AI. Crafting a unified AI strategy is essential, but more importantly, it is the execution that determines the impact of the business outcome (from the use of AI).”

Potential pitfalls, best practices

David observed the emergence of Shadow AI, solutions that are used or developed within an organization without approval or oversight from IT departments. Much like shadow IT, these actions came about because of lack of formal policies around AI usage in the workplace.

“In Malaysia alone, the country has over 800 Acts created by the parliament, and it should be about mapping the principles of AI ethics to existing regulations.”

He wanted to point out that employees who input their organizational data into AI tools like ChatGPT without realizing it may be in violation of the company’s commitment to client data privacy, is a common challenge today.

“AI ethics and governance are becoming global best practices to ensure the responsible use of AI, as well as establish accountability frameworks to promote trust in using AI systems,” David concluded.