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KWAP and Universiti Malaysia Kelantan Ink MoU to Propel Artificial Intelligence Adoption

KUALA LUMPUR, 25 June 2024 – Kumpulan Wang Persaraan (Diperbadankan) [KWAP] today signed a Memorandum of Understanding (MoU) with Universiti Malaysia Kelantan (UMK) to propel Artificial Intelligence (AI) adoption, in line with MADANI’s framework, the Malaysia National Artificial Intelligence Roadmap 2021-2025 (AI-RMAP) and KWAP’s internal AI Adoption Programme.

 

KWAP’s AI Adoption Programme, will act as a support towards the digital transformation strategy in driving digital excellence. Through this MoU, KWAP will explore a few areas of collaboration, including research grants for developing localised large language models (LLMs) that support the national language and the establishment of an AI Governance Framework and Ethics. KWAP is also looking into knowledge and advisory exchanges to aid in developing AI use cases, proofs of concept, and sandboxing, as well as establishing KWAP’s Gen-AI lab. Other areas include the collaboration in research journals, co-organising events and learning courses, and facilitating university talent and student attachments at KWAP, among others.

 

In addition to driving digital transformation, this MoU aims to enhance customers’ digital experience through digital interaction and AI-assisted knowledge. It also seeks to enhance investment and retirement service data analytics capabilities and improve employee productivity through the utilisation of AI tools.

 

Datuk Hajah Nik Amlizan Mohamed, Chief Executive Officer of KWAP, said, “As Malaysia’s largest pension fund for public sector retirees, KWAP recognises the importance of AI adoption in navigating our nation’s transformation into an ageing nation. As part of our commitment, KWAP aims to accelerate the digital transformation, particularly in cyber resilience, digital governance, business systems, technology platform, as well as data management. This collaboration aims to set up a solid foundation towards exploration and adoption of AI. This MoU is instrumental in advancing KWAP’s position as a retirement companion for its stakeholders.

 

“We have full confidence in UMK’s expertise, and we foresee that this collaboration will not only aid us in accomplishing our mutual objectives in AI adoption but also contribute significantly to the nation’s advancement in this crucial field, ensuring success and benefit for all stakeholders involved,” she added.

 

Meanwhile, Prof. Ts. Dr. Arham bin Abdullah, Deputy Vice Chancellor (Research And Innovation) of UMK said, the collaboration effort between UMK through Institute for Artificial Intelligence and Big Data (AIBIG) and KWAP is viewed as a significant stride towards advancing the development and research of responsible AI, with substantial impacts for Malaysia’s economic and technological growth. 

 

He said, this collaboration is important for UMK to actively involve various stakeholders as partners in advancing the country’s development, providing innovative and sustainable benefits in the fields of AI and big data. 

 

“The scope of this collaboration includes research and information sharing, co-publishers in research journals, co-organisation of events such as Ideathon and Hackathon by leveraging university facilities and infrastructure for the implementation of AI use. In addition, this collaboration includes the exchange of information on research innovation and student development and industry attachment/training programs for students and university staff,” he said.

 

For KWAP, this involves significant research and development (R&D) efforts, as well as experimentation and pilot projects with Generative AI. With this MoU, it will catalyse and move KWAP to the next level, enhancing its operations.  

 

Alongside this initiative, KWAP has exhibited a commitment to advancing digitally with its stakeholders. Key efforts include the deployment of Robotic Process Automation (RPA) to replace repetitive and labour-intensive processes, thereby improving efficiency. Additionally, KWAP has implemented biometric integration at 50 haemodialysis centres with plan to expand this integration to more haemodialysis centres nationwide and introduced the new Semakan Pesara portal at 146 government hospitals in collaboration with Jabatan Perkhidmatan Awam (JPA).

 

For more information about KWAP, please visit www.kwap.gov.my.

 

-END-

 

About Kumpulan Wang Persaraan (Diperbadankan)

Kumpulan Wang Persaraan (Diperbadankan) [KWAP] or the Retirement Fund (Incorporated) was established on 1st March 2007 under the Retirement Fund Act 2007 (Act 662) replacing the repealed Pensions Trust Fund Act 1991 (Act 454).

 

KWAP manages contributions from the Federal Government and relevant agencies made into the Retirement Fund [Fund] to obtain optimum returns on its investments through sound management and investment of the Fund in equity, fixed income securities, money market instruments, and other forms of investments as permitted under the Retirement Fund Act 2007 (Act 662). The Fund shall be applied towards assisting the Federal Government in funding its pension duties. In 2015, KWAP was officially appointed as an agent of the Federal Government for the purpose of payment of pension, gratuity, and other benefits granted under any written law from the Consolidated Fund as agreed between the Federal Government and KWAP.

 

Visit www.kwap.gov.my for more information.

 

About Universiti Malaysia Kelantan

Universiti Malaysia Kelantan (UMK) is the 19th Public Institution of Higher Learning (IPTA) and its establishment was announced during the presentation of the Ninth Malaysia Plan (9MP) on 31st  March 2006. The philosophy of the UMK Curriculum is based on Entrepreneurship Education in which, the phrase “Entrepreneurship is Our Thrust” has been widely used.

 

At the initial stage, four (4) core field groups were given emphasis namely Entrepreneurship and Business, Agro-Industry and Natural Resources, Creative and Heritage Technology, and Veterinary Medicine.

 

As the first Entrepreneurial University in Malaysia, UMK always supports the aspirations of the Ministry of Higher Education Malaysia in realising the mission and vision of the country, especially in aspects related to producing human capital with high integrity, holistic, balanced and possesses entrepreneurial mind-set.

 

Visit www.umk.edu.my for more information.

 


 

For any media inquiries, please contact:

Yasmin Syazwina

Contact number: +6016 9737 956

Email: yasmin.syazwina@edelmansmithfield.com

 

Pusat Komunikasi Korporat, Universiti Malaysia Kelantan

Contact number: +60199681001

Email: pkk@umk.edu.my

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