Paving the way to a future of responsible AI adoption

PETALING JAYA: Corporate leaders and policymakers are expected to get a more in-depth insight into artificial intelligence (AI) adoption and governance at a panel discussion here tomorrow on how the technology is reshaping financial institutions.

The discussion, dubbed From Oversight to Foresight, will see leaders in the financial and technology sectors, strategists and regulators share their views on how to set Malaysia on the path to responsible AI adoption.

Discussions at the event will focus on AI governance and board accountability, steps to move beyond oversight to stronger judgement, and the impact on strategy, investments and long-term value.

Key ideas are expected to come from Calvin Cheng, founder and CEO of Wizpresso, a technology company headquartered in Hong Kong that specialises in advanced artificial intelligence solutions for financial markets, as well as legal and compliance requirements.

Wizpresso delivers propriety software that empowers financial institutions, professional services firms, and enterprises with actionable market intelligence, automated regulatory reporting, and robust knowledge management.

Cheng comes with 15 years of experience in investment banking and product development and had once served in global banking at HSBC.

Known for his commitment to innovation and education, he is the first recipient of the Bank of China (Hong Kong) Science and Technology Innovation Prize.

Cheng focusses largely on balancing rapid, productivity-driven AI adoption with workforce adjustment. He has also warned that a lack of structured AI governance could lead to “a deceptive marketing practice where companies overstate or fabricate their use of artificial intelligence” — a practice commonly known as “AI washing”.

In a LinkedIn post on bridging innovation and oversight two months ago, he noted that almost nine out of 10 corporate disclosures make references to AI.

On the other hand, he pointed out, fewer than 20% disclosed a structured governance approach with defined oversight roles, policies, and controls — a gap he said could point to AI washing.

Others among industry leaders and regulators who will lead the discussion are Securities Commission chairman Faiz Azmi, Prudential Malaysia chairman Hamzah Kassim, Malaysia National AI Office (NAIO) CEO Shamsul Izhan Abdul Majid and Asian Strategy and Leadership Institute CEO Daniel Rahman.

At the discussion, to be held in collaboration with FIDE Forum, they will speak on the board’s role in guiding strategy, governance, and value creation in an AI-driven world.

The event will be held from 4pm to 6pm at the AICB Executive Forum in Kuala Lumpur. Those interested may register at From Oversight to Foresight.