The banking sector is looking closely at the opportunities offered by generative artificial intelligence as it has the potential to unlock US$113.4 billion in productive capacity in the Malaysian economy.
The conference highlighted the role GenAI could play in elevating Malaysia’s financial sector to the next level and how banks could embrace and scale GenAI responsibly, transitioning from experimentation to delivering powerful digital transformations across banks’ operations and supporting a just transition.
The Future Skills Framework , an initiative led by AICB with the Islamic Banking and Finance Institute Malaysia and the Malaysian Insurance Institute will be launched on July 22, he said. “The FSF is a pivotal component of Bank Negara Malaysia’s Financial Sector Blueprint 2022–2026 and aims to propel skills mastery and constant learning across the financial sector talent ecosystem, fostering a future-ready workforce, and advancing Malaysia’s financial industry.
Gobind said the banking sector workforce must know the challenges posed by this new technology which impacts certain job clusters and the public has to accept the importance of the digital economy to the country because it will contribute enormously to gross domestic product .
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