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Malaysia Takes The Lead In AI Development With New National AI Office

by THEFUTURE.TEAM

December 12, 2024

Malaysia has taken a bold step toward becoming a regional leader in artificial intelligence (AI) with the launch of its National AI Office. This new centralised agency aims to spearhead AI-related policies, oversee regulations, and accelerate the nation’s digital transformation.

A Major Milestone in Malaysia’s Digital Journey

Prime Minister Anwar Ibrahim called the establishment of the office a “historical moment” for Malaysia’s ongoing digital transformation. The office will be responsible for strategic planning, research and development, and regulatory oversight, according to official information shared on its website.

As part of its ambitious agenda, the National AI Office has outlined seven key deliverables for its first year. These include:

Developing a Code of Ethics for AI
Creating an AI Regulatory Framework
Designing a Five-Year AI Technology Action Plan (2025-2030)

These initiatives aim to position Malaysia as a pivotal hub for AI development in Southeast Asia.

Partnerships with Global Tech Giants

The launch also marked the announcement of strategic partnerships with six major technology companies, including Amazon, Google, and Microsoft. Over the past year, these global firms have committed to developing data centres, cloud infrastructure, and AI projects in Malaysia, reinforcing the country’s position as a destination for high-tech investment.

AI Driving Economic Growth

Digital ventures have significantly contributed to Malaysia’s economic growth. In 2024, the country’s information and communications sub-sector attracted 71.1 billion ringgit ($16.06 billion) in approved investments, according to Malaysia’s investment authority.

This influx of foreign direct investment (FDI) underscores the country’s growing status as a digital economy powerhouse. The establishment of the National AI Office is expected to further bolster investor confidence, promote innovation, and create a robust regulatory environment for the adoption of AI technologies.

With its strategic partnerships, clear regulatory goals, and a structured roadmap for AI development, Malaysia is positioning itself as a key player in Southeast Asia’s digital economy. By 2030, the country aims to be at the forefront of AI innovation, ensuring sustainable growth and technological leadership in the region.

This latest initiative highlights Malaysia’s forward-thinking approach to harnessing the potential of AI, attracting international investment, and establishing itself as a leader in the global AI landscape.

New Decrees For Blue Card And Foreign Students: Key Changes And Implications

by THEFUTURE.TEAM

December 20, 2024

The Ministry of Labor and Social Insurance has announced a series of new measures aimed at addressing the increasing demands of Cyprus’ labor market. These initiatives are designed to attract highly skilled professionals from third countries and broaden employment opportunities for foreign students in select fields, as outlined in the recent Decrees published in the Official Gazette of the Republic.

Attracting Skilled Professionals

One of the key updates is the introduction of a minimum annual salary for foreign professionals, which has been set at €43,632, 1.5 times the average gross annual salary in Cyprus. This salary threshold applies to individuals coming to work in sectors such as Information and Communication Technologies (ICT), pharmaceuticals for research purposes, and maritime industries (excluding skippers and crew).

Expanded Employment Options For Foreign Students

The new regulations also provide an update on the employment rights of foreign students. From December 2024, students from third countries will be able to work in Cyprus, with the new rules replacing the previous March 2024 start date.

Students studying ICT who have completed their first academic semester will be eligible to work in occupations related to their field of study, thereby gaining practical experience while pursuing their education.

In response to critical sector shortages, the regulations also clarify the specific occupations and salaries that Blue Card holders—third-country nationals—will be eligible for in Cyprus. The Blue Card, in line with the European Directive, allows highly skilled professionals to live and work in EU member states.

Strengthening The Labor Market and Economy

These updates are expected to bolster the supply of specialized workers in key sectors, addressing existing gaps and promoting the continued growth of Cyprus’ economy. At the same time, the new measures offer foreign students enhanced opportunities for professional development, facilitating their seamless integration into the country’s workforce.