At a time when technologies like natural language processing (NLP), robotic process automation (RPA), and machine learning (ML) are transforming the traditional enterprise, businesses are left with two choices: adopt artificial intelligence (AI) or get left behind. In the Benelux region, AI is topping the corporate agenda across all industries. The Benelux region is already in a strong position as an innovation hub for AI. As ports of AI expansion, countries like Belgium and the Netherlands are witnessing a rapid increase in AI development and adoption. In many ways, now is the best time for enterprises in this region to renew their focus on AI and start doubling their efforts.

In 2018, a study by MIT Sloan Management Review exposed that 58% of companies believed AI will significantly change their business models by 2023. And in 2019, a Forbes article that indicated 73% of top U.S. executives have a goal to increase investment in technology dramatically. Now more than ever, companies recognize that AI is essential to their business growth. But despite this awareness, which seems to be growing all the time, I still observe that a large number of companies have not progressed beyond the experimental in their use of AI. Sometimes, when I speak with people in many companies, many of them think of Artificial Intelligence, they often have a vision of something spectacular, almost a realization of science fiction projections.

The Covid-19 pandemic has accelerated the growth of digital economy and opened up avenues to various new digital businesses. As businesses pivot online, the need to lay a solid foundation to aid this new wave of digitalisation is vital to ensure that Malaysia can holistically transform itself towards an advanced digital economy. In 2020, a total of 45 MSC status projects were approved with investments worth RM3.9bil. This will pave the way for 3,794 new employment opportunities for Malaysians. Out of the total, RM2.6bil (66.2%) came from domestic investments, while RM1.3bil (33.8%) came from foreign investments.

New Delhi: The ability and efficacy to harness vast amounts of data and drawing descriptive and predictive analysis, without negating the power of human intelligence, would provide the winning edge in the use of artificial intelligence (AI), a senior IBM executive said on Wednesday. Speaking at a RAISE 2020 event, IBM India and South Asia Managing Director Sandip Patel said the world is at a critical inflection point and there will be use of AI at scale, given the extreme digital acceleration seen amid the COVID-19 pandemic. He noted that several sectors across retail, finance, healthcare and e-commerce are already deploying AI to increase efficiency and productivity, enhance customer service, and build a stronger security cover. "These digital transformation journeys have further accelerated in the wake of the COVID-19 pandemic. As a result, the pace of digital acceleration compressed over a span of 8-10 months is something that would have actually taken years to happen," he said.