00:003, 2, 1
00:09So as we welcome an international decision
00:13to establish Global Development Center in Kuala Lumpur
00:18So I will say, siya siya, terima kasih
00:20It means a lot to us
00:27But let us be clear
00:29about the purpose that must guide this endeavor
00:33Technology, finance, and innovation
00:37are critical but not ends in themselves
00:41As alluded to earlier
00:45they must add true value to the economy
00:48by generating quality jobs
00:50strengthening local capabilities
00:53expanding opportunities for businesses
00:55and widening affordable access to services
00:59for those who have traditionally been left behind
01:33So the collaboration with universities with research centers
01:33is an important element in education policy
01:35So what is important for me to stress is this
01:39Technological advancements must translate into real and tangible outcomes for our people
01:46Through greater productivity, enhance economic resilience, and improve quality of life
01:53Innovation must remain anchored in a simple principle
01:59That the benefits of growth are broadly shared and that no community is left behind
02:08It's a very important conversation
02:12It's a very important conversation here
02:39Viewed through this lens, therefore, no industry intersects more than or with the general population
02:46than those involved in finance
02:49Financial services could inject the credit needed for a family
02:53confronting medical bills or skilled traders to reach customers across the world as readily as those across the street
03:02The digital revolution has opened possibilities
03:05where advancements in telecommunications and computing facilities
03:10or facilitate complex cross-border payments
03:14which benefit the individual or in larger geopolitical contexts
03:18mitigate volatility through exchange currencies
03:21And again, the changes, the new facilities through innovation is so fast
03:29that only those who are competent will be able to accept and adjust to the benefit of the family, the
03:39people, and the nation
03:42So the era of artificial intelligence can be different
03:48It will shape not only how business run
03:51but how commerce itself is conducted
03:54How credit is assessed
03:57How risk is managed
03:59and how markets connect across borders
04:03Applied responsibly
04:05Large language models can remove barriers
04:10facilitate communication
04:12and create new opportunities for trade and innovation
04:17But I must remind you that these technologies also concentrate immense power in the hands of those who control data,
04:29platform, and digital infrastructure
04:32To AI for the rakyat, for the nation in this country, attempts to ensure that the benefit transcends groups and
04:43communities
04:44So we must ensure that human judgment remains at the center of decision making
04:52even as machines become more capable and sophisticated
04:57So now we have a global development center
05:01I am of course naturally excited
05:03We discussed this even yesterday
05:07We say nice things about you, don't worry
05:11But this is a new chapter in Malaysia
05:14The talents and those of you operating in this space must hold on to trust and security as the ethos
05:23we live by
05:24Those you serve must be able to trust that their money is secure
05:31Their information is protected
05:33And the judgments made about them fair
05:38The government, the Malaysian government, is completing the AI governance bill
05:43And we will need your input
05:48And I get the relevant offices, the ministry
05:53To discuss
05:55Because you have this expertise
05:58And also familiarity
06:00In understanding some other regulations and laws in many countries
06:05We want to make sure that we are up in the state of the art
06:09Because the bill will complement existing frameworks
06:13Including the Cyber Security Act
06:15And our data protection regulation
06:18Digital trust is the foundation of building a digital nation
06:24And our plan and the final phases of the Malaysian Digital Economic Blueprint
06:29Emphasize this priority
06:34One
06:35That's perfect
06:36Thank you so much
06:36Can you join our guests right now
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