KUALA LUMPUR, June 2 – The United Kingdom-based professional institution for managers, Chartered Management Institute (CMI), has called for a clear regulatory framework to guide the adoption of artificial intelligence (AI) in Malaysia, reflecting the interconnected nature of the global economy.
CMI chief executive officer Ann Francke emphasised the need for proactive regulation to harness AI’s benefits for the national economy.
“A clear regulatory framework is essential, and it needs to be global to match our interconnected economy,” she told Bernama in a recent interview.
As AI technology becomes increasingly integrated into business operations, it is also crucial to address the fear and resistance associated with AI by ensuring transparent and proactive regulations, she said.
Francke underlined the importance of early government intervention to prevent the pitfalls associated with technological advancement.
“We must learn from the past and establish both national and global frameworks to regulate AI effectively.
“This approach will foster a balanced and beneficial integration of AI into business operations.
“Key concerns include the fear of job replacement, misunderstanding of AI’s role, resistance to change, and communication failures,” she said.
Francke also pointed out the potential of AI to create new jobs and enhance productivity.
“AI, much like the Industrial Revolution, has the potential to create new opportunities and more rewarding jobs.
“It is essential to use AI to enhance productivity while still relying on human judgment, which remains as crucial as the technology itself,” she noted.
Furthermore, Francke believed that the role of human capital in Malaysia’s economic development is critical.
“Investing in management and leadership skills is key to unlocking productivity and growth.
“Malaysia’s proactive approach to skills planning and development via entities like the Human Resource Development Corporation and TalentCorp sets a strong foundation for future success,” she said.
Discussing CMI’s strategic partnerships with stakeholders in Malaysia, Francke highlighted their role in enhancing the nation’s competitiveness and economic growth.
She said that CMI has 25 partners in Malaysia, primarily universities, training providers, and several government agencies.
“These collaborations are fostering a new generation of confident and competent leaders, essential for the nation’s economic growth.
“For example, Universiti Tun Abdul Razak was CMI’s first partner in Malaysia, playing a significant role in training government civil servants.
“These partnerships are instrumental in equipping Malaysia’s future leaders with the necessary skills to thrive in today’s competitive environment,” she added.
