Malaysia: Malaysia's banking sector is strategically positioning itself to strengthen its regional leadership in responsible artificial intelligence (AI) deployment, as the technology enters a definitive new phase in which financial industry success is no longer judged by the sheer speed of technology adoption, but by the maturity and responsibility of its implementation.
According to BERNAMA News Agency, with financial institutions facing a landscape defined by rapid automation and emerging systemic risks, industry leaders at the Asian Institute of Chartered Bankers (AICB)'s fourth Malaysian Banking Conference (MBC 4.0) and second Bank Audit Conference (BAC 2.0) emphasised that sustaining the competitive edge will rely heavily on a combination of cross-sector collaboration, continuous workforce development, and unyielding governance frameworks.
AICB chief executive Edward Ling said that while the adoption of artificial intelligence (AI) has become widespread across the banking industry, public and institutional trust remains the key differentiator for leading financial hubs. 'AI adoption is no longer optional - it is already happening across the industry. The critical question is trust: who manages the data, oversees risks and ensures accountability? Ultimately, the answer is people. The future of banking will not be delivered by technology alone but by professionals who know how to use AI responsibly,' he said at a media roundtable.
He also highlighted that 79 per cent of financial institutions report a distinct shortage of technical AI talent, adding that capacity building should no longer be viewed as a standalone human resources function but as a strategic business imperative. Ling said that while AI has the potential to automate tasks, enhance decision-making and improve customer experiences, its value can only be fully realised if employees understand how to use AI and work effectively alongside the technology.
Co-founder and chief executive officer (CEO) of Addo AI, Singapore, Dr Ayesha Khanna, a speaker at AICB's MBC 4.0, said organisations seeking to scale AI across their businesses must move beyond isolated pilot projects and instead adopt a disciplined, enterprise-wide strategy aligned with core business objectives. She said many companies have yet to progress beyond the proof-of-concept (POC) phase, urging businesses to accelerate the transition from experimentation to deployment.
AMMB Holdings Bhd (AmBank Group) group chief information security officer Malini Kanesamoorthy said banks, as heavily regulated institutions, need to move beyond treating AI as just another technology trend and instead adopt an 'AI-first' mindset supported by updated governance, risk management and leadership commitment. Malini, who is also AICB's chief information security officers' forum chair, said organisations should revisit their governance frameworks, risk control metrics, risk appetite and tolerance levels to reflect AI's growing role across banking operations, rather than creating standalone AI policies.