KUALA LUMPUR: My EG Services Bhd
(MYEG) and Universiti Malaya (UM) have announced the expansion of their research collaboration with China Academy of Information and Communications Technology (CAICT) to include the development of Artificial Intelligence (AI) technology.
This is being done under the existing intergovernmental research collaboration.
MYEG said the expansion is a follow-on to a collaborative project initiated in February 2023 entitled "Research on Key Issues of China-Malaysia Transborder Blockchain Infrastructure and Pilot Applications”, which was selected as part of the intergovernmental collaboration between Malaysia and China in the field of science, technology and innovation.
The Chinese government had previously announced the government-to-government (G2G) programme, a collaboration between the Chinese government and overseas governments.
Initiated by the Ministry of Science and Technology of China, Malaysia is one of 14 countries participating in the programme.
"With the expansion, the research initiative will extend its scope to focus on leveraging AI to further streamline and optimize the cross-border trade processes, with the ultimate goal of reducing inefficiencies and improving the overall ease and speed of cross-border transactions,” MYEG said in a statement.
Its managing director TS Wong said the partnership with UM and CAICT continues to be instrumental in their journey towards leveraging 4th Industrial Revolution (4IR) technologies to transform cross-border trade and settlement.
UM lead researcher Saaidal Razalli Azzuhri expects the synergistic combination of AI and blockchain technology will lead to breakthroughs that greatly enhance the efficiency and security of cross-border trade. - Bernama
