Raising companies with AI and data as part of the MyDIGITAL initiative – Wired PR Lifestyle Story

[This is a sponsored article with MDEC.]

according to International Data CenterExpenditure based on Malaysian data is estimated at RMB 7.9 billion in 2025.

In order for our local businesses to get a piece of the pie, the Fourth National Industrial Revolution (4IR) Policy says they must first take on the digital transformation, emphasizing the level. 5 basic technologies 4IRkoa.

Note: 4IR’s core 5 technologies are artificial intelligence (AI), the Internet of Things (IoT), blockchain, cloud computing and big data analysis, and advanced materials and technology.

It is MDEC to encourage Malaysian companies to evolve in this area and to encourage greater adoption of data and AI technologies by local companies, such as IoT, big data analytics and AI.

The initiative also agrees Malaysia Digital Economic Plan (MyDIGITAL) agenda, which aims to make Malaysia a digitally driven nation by 2030.

Here are case studies of companies working with the agency to help individuals or companies gain knowledge, develop staff, and receive guidance on data and IA issues.

Use data to reduce waste and create new products

Innergia Labs and their SYCARDA solution provides companies with information on sales data and inventory. Vernon Chua, CEO of the company, highlighted why it is important for an establishment to monitor these measures during the pandemic, especially for F&B outlets.

Food waste remains a very real problem, as some restaurants do not know the right amount of ingredients to order and store because they do not know or understand the consumption patterns of change.

SYCARDA helps you record real-time transactions in point-of-sale (POS) systems and automatically collects sales data in reports. These allow companies to monitor and manage store performance for rapid improvements.

For example, an F&B channel was able to use data related to its customers’ food matching options to develop a top-notch menu. This generated additional sales and the company earned an additional RMB 400,000 with monthly revenue.

Meanwhile, a pharmaceutical chain that used SYCARDA managed to speed up the process of completing its weekly reports, instead of just 3 hours of use in 24 hours.

Looking forward to 2022: Arguably, consumer behavior has changed dramatically since the pandemic, Vernon noted. And while that may mean that companies need to have an online presence now, he believes that the convergence of offline and offline businesses is the future.

When this happens, it becomes difficult to manage and control the performance of a business. Therefore, increasing the importance of data technology for companies, especially SMEs.

“These tools are there to help companies in their efficiency and effectiveness. They are no longer the sole domain of large companies; smaller businesses can afford it [to] and he should establish them as well, ”Vernon said.

Use data to develop AI solutions that increase the effectiveness of tasks

TM Research and Development (TM R&D) is a government-approved R&D company and is the innovation hub of Telekom Malaysia Berhad (TM).

The company developed its Open Innovative Platform (OIP), the only platform for sharing original data in the cloud, which enables digital innovation with features such as data center, smart service center, IoT management, and more.

Through OIP, the SPICE.ai solution was created. AI is a customer-driven customer experience platform that allows telecoms to reduce user complaints, expand the use of digital channels, and solve self-problems, leading to effective customer call management.

During the pandemic, SPICE.ai accurately helped call center lines improve customer experience and reduce call handling time by one minute.

Looking forward to 2022: Dr. Sharlene Thiagarajah explains that “data and analytics are key to digital transformation efforts. However, less than 50% of documented strategy corporations cite data and analysis as a component of business value.”

Now things need to change. He believes it is important for companies to adopt data and AI technologies to be part of the digital economy, which will contribute 22.6% of Malaysia’s GDP by 2025.

Use data to drive sales while saving costs

BigLedger It offers cloud-based native AI applications that can handle the complexities of a variety of business processes, such as enterprise resource planning (ERP) systems, customer relationship management (CRM), POS, warehouse management, logistics, and more.

Many applets can be mixed and matched to suit the needs of a business, which means that these companies do not have to break the bank in large complex systems.

The solution extracts information from a single data repository called the Operational Data Lake platform, which makes it easier to access and manage information remotely.

As a result, BigLedger customers save at least 10% of their labor costs after implementing Operational Data Lake.

Looking forward to 2022: BigLedger CEO Vincent Lee anticipates that successful companies will adopt AI solutions in the areas of CRM, merchandising, customer service, logistics and marketing.

2022 is a year in which many businesses are being restarted, consumer behavior is changing, and the digital transformation has accelerated for at least 10 years.

In order to navigate properly, Vincent believes that data technology is essential for companies to “not fly blindly” in the aforementioned areas.

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Featured Image Credit: Innergia Labs