KUALA LUMPUR, April 17 (Bernama) -- National applied research and development centre MIMOS Bhd has signed a memorandum of understanding (MoU) with business consultant firm 6Biz Sdn Bhd to promote artificial intelligence (AI) practice management for the accounting industry.
Under the collaboration, MIMOS and 6Biz would work closely in developing AI solutions for the accounting industry across Malaysia, which is expected to be implemented by the third quarter of this year.
Chief technology officer Thillai Raj in a statement today urged accounting practitioners across the country to use AI in their business practices to boost services and enhance productivity.
He said with Industry 4.0, organisations need to take advantage of AI as it can help in making better decisions and responding to change quickly.
“AI and machine learning are so commonly associated with the manufacturing sector that some of us tend to overlook the use of the technology in other areas such as accounting and finance.
“AI can digest and process massive amounts of data much faster than any human could, which means the technology can be used to complement accounting skills, for example, by running tedious low-skill tasks,” he said.
The partnership would lead to both parties launching the first AI Practice Management in Malaysia, aimed at transforming the profession to meet the higher demand for accountants in supporting nation building.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
