MDEC launches data, analytics, AI readiness assessment tool

• Jointly developed with IDC; help local businesses ascertain 4IR readiness
• Assessment can be done at organisations’ convenience; focuses on six dimensions

THE Malaysia Digital Economy Corporation (MDEC), supported by market intelligence firm IDC, has launched the Data, Analytics and Artificial Intelligence (AI) Readiness Assessment Tool.

In a statement, MDEC said the free assessment tool is now available for business enterprises and organisations seeking help to address organisations’ requirement to realise their asset value and deploy data technology. 

The tool is aimed at helping organiations optimise operational, tactical and strategic decisions while overcoming their biggest challenges towards being Industrial Revolution 4.0 (4IR)-ready, MDEC claimed.

“In order to unlock the full array of benefits of 4IR, organisations need to accelerate the use of data technology.

“IDC, via their recent AI adoption survey found that more than 52% of Asia Pacific enterprises are still in their early stages of AI adoption,” said Surina Shukri, chief executive officer (CEO) of MDEC (pic).

“This assessment tool, jointly-developed with IDC, will greatly benefit local businesses in their journey towards being 4IR-ready in line with the goals of the Malaysia Digital Economy Blueprint (MyDigital).”

MDEC said the tool is based on IDC’s vast experience in research and insights. A framework has been developed to help assess the organisation's data, analytics and AI readiness as well as to identify strengths and areas of improvement to fully maximise the organisation’s capabilities, it added.

This assessment is targeted for C-suite executives and senior leaders in business, operations and IT across all industries.

It presents itself as an opportunity for Malaysian enterprises to re-evaluate their digital strategy or risk being left behind against its competitors, MDEC said.

“This readiness assessment will help Malaysian enterprises to evaluate their current position and readiness to be a data driven organisation and embracing 4IR,” said Sudev Bangah, managing director, IDC Asean.

“While there has been an increase in interest around AI and analytics, it’s important to assess an organisation's point of departure to demonstrate the proof of value technology brings to an organisation’s business goals.”

Primed for readiness

The assessment aims at providing recommendations as a guide for business enterprises to address their business insufficiencies and/ or identify new business opportunities with the best match of data technology and professional services provided by MDEC’s Data Technology Partners, MDEC said.

The tool has been welcomed and lauded by key industry associations in Malaysia including the National Tech Association of Malaysia (Pikom, Malaysian Institute of Accountants (MIA), Institute of Corporate Directors Malaysia (ICDM) and Malaysian Alliance of Corporate Directors (MACD), MDEC said.

The assessment can be done at the organisations’ convenience  and can be saved and be revisited at a later time. In total, there are six dimensions for assessment: organisation, people, process, technology, data and use case.

Upon completion of the assessment, a personalised essential report will be generated that summarises the organisation’s capabilities on each of the dimensions and reveals how the organisation can bring its data driven readiness to the next level.

To learn more about the MDEC’s Data Driven Enterprise Programme and Data, Analytics and Artificial Intelligence Readiness Assessment Tool and to take part in the assessment, visit here.