Kuala lumpur: Small and medium enterprises (SMEs) must embrace emerging technologies to strengthen their position in the global supply chain, stated Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. This call to action was made during his closing speech at the ASEAN SME Economic Conference.
According to BERNAMA News Agency, Tengku Zafrul emphasized the necessity for SMEs to adopt technologies like artificial intelligence (AI), robotics and automation, quantum computing, and the Internet of Things (IoT), alongside Generative AI and Digital Twins. By integrating these technologies, SMEs could enhance their productivity, efficiency, and competitiveness, enabling a more seamless integration into global markets.
Tengku Zafrul highlighted, “We want SMEs to be established in this journey. So how can SMEs leverage AI? How can they leverage robotics, quantum computing? We need SMEs to elevate their processes so that they can plug in more seamlessly to the global supply chain and market themselves more successfully.” He further noted that AI would ensure consistent quality and reduce waste, positioning SMEs as trusted suppliers in the global electrical and electronic supply chains.
The minister also pointed out that robotics and automation could improve speed, accuracy, and customer experience, allowing SMEs to serve multinational corporation clients more efficiently. Although quantum computing remains nascent for SMEs, existing platforms offer smart scheduling and resource optimization tools, aiding SMEs in simulating production scenarios and adapting quickly to supply chain disruptions. Moreover, some SMEs are already utilizing Generative AI in the design and prototyping space to create product mockups, simulate performance, and generate marketing assets.
In addition to his remarks, Tengku Zafrul, alongside Minister of Entrepreneur and Cooperative Development Datuk Ewon Benedick, officiated the launch of CIMB OCTO Biz, a digital-first strategy. CIMB group chief executive officer Novan Amirudin stated during a press conference that this strategy reinforces CIMB’s role as a trusted banking partner and catalyst for both local and international expansion.
Amirudin commented, “We see banking as a strategic enabler of growth, transformation and financial inclusion. Our focus is to equip businesses and communities with the capabilities and insights necessary to navigate a dynamic economic environment. The launch of CIMB OCTO Biz underscores this commitment by delivering secure, seamless, inclusive and future-ready financial solutions that support sustainable business expansion across ASEAN and beyond.”
Currently, over half of CIMB’s SME clients are onboarded onto OCTO Biz, which has recorded a transaction value of RM17 billion across seven million transactions in 2025, highlighting its growing relevance among businesses. Further, CIMB introduced SME FlexiCash/-i, a revenue-based lending product that analyzes account history and transaction behavior to instantly grant businesses a pre-qualified financing limit, eliminating traditional loan application processes.