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Why a digital economy framework is vital (The Malaysian Reserve)

With the Covid-19 crisis pushing the adoption of technology to levels previously unseen, government agencies now need to align with each other to develop a digital economy framework.

NEC Corp of Malaysia Sdn Bhd MD Chong Kai Wooi said the framework should include securing all data, including biometric information, to convince the public that the transition to the digital economy will be seamless.

He said the pace of regulatory framework updates is one of the key factors to drive adoption of innovative digital technologies, such as biometric and artificial intelligence (AI).

“Beyond the law enforcement agencies, which have long adopted biometric and AI technologies, governments, enterprises, and small and medium enterprises across all industries are green and brown fields to be tapped on.

“In the government’s National Fiberisation and Connectivity Plan 2 and 5G plans, there will be more industry use cases to support and accelerate the adoption of the latest biometric and AI technologies,” he told The Malaysian Reserve (TMR).

Hence, NEC Corp strongly advocates digital inclusion which promotes the values of safety, security, efficiency and equality.

Going forward, the focus will be surrounding the government’s push for a digital economy where biometric and AI technologies are key.

Technology-based solutions for identification have been around for many years, particularly in law enforcement.

Chong pointed out that the combination of biometric and AI technologies has smoothened the authentication process, while enhancing security.

Many businesses around the world have also adopted the biometric authentication solution over the traditional method of pin codes, identity (ID) cards and even documents associated with access control protocols, he explained, Electronic Know-Your-Customer (e-KYC) is a wholly online process used by financial institutions to verify and identify their customers.

“e-KYC requires a digital ID which uses biometric and AI technologies to facilitate remote customer registration for financial services and digital signing of official documents.

“There is a strong push by the government for a national digital ID, which will be used by government and private sectors, to meet the needs to identify individuals accessing e-services and authenticate other secure transactions,” Chong said.

To read the rest of the article, please use this link: https://themalaysianreserve.com/2020/07/16/why-a-digital-economy-framework-is-vital/


By The Malaysian Reserve | July 17th, 2020

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