Milestones in Malaysia’s Digital Landscape: Cyber Security Act and AI Investments
In the past week, Malaysia’s Digital Ministry has been at the forefront of significant developments that promise to reshape the nation’s digital landscape. With the enforcement of the Cyber Security Act and a monumental investment from India’s Eros Investments into Malaysia’s first AI Park and movie studio, the country is poised for a transformative journey in cybersecurity and artificial intelligence. Let’s delve into these key events that highlight Malaysia’s commitment to enhancing its digital infrastructure and fostering innovation.
Cyber Security Act Comes into Force
On August 26, the Cyber Security Act officially came into effect, marking a pivotal moment in Malaysia’s approach to managing digital threats. This new legislation is designed to bolster the nation’s cybersecurity readiness by mandating compliance with specific measures, standards, and processes. The Act aims to create a more secure digital environment, which is increasingly vital as cyber threats evolve and become more sophisticated.
Accompanying the Act are four crucial regulations: the Cyber Security (Compounding of Offences) Regulations 2024, Cyber Security (Notification on Cyber Security Incident) Regulations 2024, Cyber Security (Risk Assessment and Audit) Regulations 2024, and Cyber Security (Licensing of Cyber Security Service Provider) Regulations 2024. These regulations outline the responsibilities of various stakeholders in managing cybersecurity threats and incidents.
A significant aspect of the Cyber Security Act is its focus on the National Critical Information Infrastructure (NCII). The Act delineates the functions and duties of heads of NCII sectors and entities, which include government, banking and finance, transportation, defense and national security, healthcare services, and more. The National Cyber Security Agency is tasked with reviewing and reassessing NCII entities, anticipating an increase from the current 299 entities as the digital landscape continues to expand.
Eros Investments to Inject US$1 Billion into AI Park and Movie Studio
In a landmark move for Malaysia’s digital economy, Eros Investments, an Indian media and entertainment company, has announced a staggering investment of US$1 billion into the country’s first AI Park and movie studio. This announcement was made during a recent official trip to New Delhi by Malaysia’s Minister of Digital, Gobind Singh Deo, who met with key decision-makers from major Indian companies, including Ali Hussein, CEO of Immerso AI-IP, a subsidiary of Eros Investments.
The AI Park and movie studio, which are set to be built in Malaysia, are expected to create approximately 5,000 jobs over the next five years. This investment not only underscores Malaysia’s growing appeal as a hub for technology and innovation but also highlights the potential for collaboration between Malaysia and India in the digital sector. The partnership aims to leverage Malaysia’s strategic location and talent pool to foster advancements in artificial intelligence and digital content creation.
Celebrating Young Innovators
On August 29, Minister Gobind was in Penang to engage with young innovators participating in the MYCentre4IR Impact Challenge 2024. Organized by Intel Malaysia and MYDIGITAL Corporation, this challenge showcased the creativity and ingenuity of students from secondary schools and universities. Gobind toured Intel’s HEC Experience Centre and Advanced Analytics Research Centre 2, which focuses on the adoption of AI tools across various industries.
The competition featured a diverse range of projects addressing critical issues, from healthcare to food waste reduction. In the over 18 category, Iris Yan Ning from Universiti Sains Malaysia won with her project ‘Paediatric Allergy Life Saver’. The second and third places were awarded to teams from Universiti Malaysia Perlis and Universiti Teknologi Malaysia, respectively, for their innovative projects utilizing deep learning and augmented reality.
In the 13-18-year-old category, students from Han Chiang High School showcased their exceptional talent, with their project ‘Auto-Focusing Cancer Detection Complex’ taking first place. The school’s students dominated the category, reflecting the growing emphasis on STEM education and innovation among Malaysia’s youth.
Conclusion
The past week has been a remarkable period for Malaysia’s Digital Ministry, marked by the implementation of the Cyber Security Act and a significant investment in artificial intelligence. These developments not only enhance the nation’s cybersecurity framework but also position Malaysia as a burgeoning hub for technology and innovation in Southeast Asia. As the country continues to invest in its digital future, the collaboration between government, industry, and young innovators will be crucial in driving Malaysia’s growth in the digital economy.