Malaysia should shed its wait-and-see approach and start investing in artificial intelligence (AI), especially facial recognition, and capitalise on its vast capabilities.
Justin Goh, founder and co-director of AI platform company WISE AI, admitted the acceptance of such technology in Malaysia is “rather slow” compared to other Southeast Asian nations.
“The Malaysian government and the private sector must work hand in hand to boost such technology. Its capabilities are endless. Facial recognition can help businesses grow by leaps and bounds and further fortify the nation’s security,” said Goh.
“But we often see this wait-and-see approach and we then wonder why nations like Singapore are so far ahead. In fact, tech companies are now looking at Singapore as their hub.”
“We need policies that will stimulate AI and facial recognition. This will then turn Malaysia into another player in the region.”
Goh was met at the recent 30th International Invention, Innovation and Technology Exhibition, Malaysia (ITEX’19) at the Kuala Lumpur Convention Centre.
Facial recognition is widely used by various industries worldwide, namely public safety, finance, hospitality, retail and even office administration. The technology also enables brands to know their customers (KYC) better.
Singapore has started test facial recognition at its checkpoint in Tuas. Thailand’s Digital Economy Ministry had in February set aside a budget of 40 million baht to buy an online facial recognition system while Bank of Ayudhya Public Company Limited anticipates facial recognition technology as a banking standard in Thailand over the next five years. The bank uses such technology to strengthen its KYC process.
Goh pointed out Malaysia must quickly embrace such technology ahead of Industry 4.0.
WISE AI offers business and consumer-orientated AI products and services. Its core business includes face detection technology, face attribute estimation, face image retrieval, face comparison technology and detection of key facial attributes.
Facial recognition is able to provide a better customer experience through smooth transactions, provides effective fraud prevention measures and results in lower operating costs compared to traditional methods. Besides security, businesses can also use data obtained from the technology to know their customers and target market better.
WISE AI’s partners include Alibaba Cloud and Quest International University. For more information regarding WISE AI, visit wiseai.tech.
This article is brought to you by WISE AI