PETALING JAYA: G3 Global Bhd, which was issued an unusual market activity query by Bursa Malaysia Securities Bhd today, has entered into a memorandum of understanding (MoU) with China’s SenseTime Group Ltd and China Harbour Engineering Company Ltd (CHEC) for collaboration in establishing the first artificial intelligence (AI) park in Malaysia.
The proposed AI park will serve as a platform for the development of AI solutions in areas of computer vision, speech recognition, natural language and humanoid/robotics.
According to the MoU, the parties will invest a total of US$500 million (RM2.06 billion) for the project, although each party’s contribution will be determined at a later date.
The event was witnessed by Prime Minister Tun Dr Mahathir Mohamad who was in Beijing for the Belt and Road Forum for International Cooperation.
G3 executive chairman Wan Khalik Wan Muhammad explained that it is vital for all industry players to integrate Industry 4.0 technologies into their operations.
“For that to happen, AI park will serve as the main hub for industry players and talents to be trained on AI and machine learning with cutting-edge facilities and physical infrastructure for education, training, research, development and deployment,” he said in a statement.
SenseTime founder Prof Xiao’ou Tang said with advanced AI technology and extensive business experience, it s honoured to be part of Malaysia’s new journey.
“We look forward to working together with the Malaysian government, academia and business sectors, bringing our technological expertise and experience to Malaysia and build a better world with AI technology.”
In the collaboration, G3 will primarily be involved in facilitating and coordinating the establishment of AI park while forming partnerships and collaboration with various stakeholders from government agencies, universities, and private sectors.
SenseTime will be responsible for providing technological support and industry expertise relating to supercomputing and AI platform. In addition, it will also be assisting in the development and deployment of training syllabus for universities, colleges and schools.
CHEC has experience in the engineering and construction of industrial parks, roads, ports, airports and equipment assembly as well as projects across various industries such as environmental, hydraulic engineering, power plant, and energy. It will provide its expertise in infrastructure engineering and construction services.
At 4.29pm, G3’s share price was up 15.83% at RM1.61 on 2.11 million shares traded.