Malaysia’s anti-graft company says it’s turning to blockchain and artificial intelligence (AI) to battle corruption and fraud.

Malaysian Anti-Corruption Fee (MACC) chief commissioner Tan Sri Azam famous that criminals are leveraging more and more subtle instruments to conduct corruption and fraud, and the federal government must capitalize on the most recent rising applied sciences to maintain up.

Azam was speaking on the third Worldwide Convention on Know-how, Humanities, and Administration in Fuvahmulah, Maldives, the place he singled out ‘crypto’ fraud and scams, cybercrime, and AI misuse as a number of the more difficult sectors for regulators within the digital age.

“Technological progress can truly be leveraged with the usage of AI, together with its use from the facet of knowledge analytics, in addition to blockchain expertise,” Azam said, as reported by native shops.

“Blockchain ensures immutable transaction data, whereas AI enhances knowledge analytics, enabling the detection of fraud patterns and monetary irregularities,” he added in his keynote speech.

Blockchain has been proposed as one of the most effective technologies to battle graft within the public sector. Along with its immutable data, which prohibit manipulation, blockchain’s clear ledger boosts accountability. The expertise additionally presents smart contracts, which allow the automation of public service processes and cut back the alternatives for corruption.

The Malaysian authorities has stepped up efforts to boost blockchain adoption over the previous few years. Every week in the past, Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi revealed the federal government is exploring blockchain to reinforce digital safety. Earlier this month, Prime Minister Datuk Seri Anwar Ibrahim revealed that Malaysia was exploring blockchain and digital asset laws and dealing with the United Arab Emirates authorities to faucet its experience within the subject.

Malaysia has additionally integrated blockchain into a brand new digital id ecosystem, which is obtainable by way of the MyDigital ID Superapp. The app, which features a digital wallet, additionally permits Malaysian corporations to combine their companies and faucet its direct login function. It’s constructed atop the Malaysia Blockchain Infrastructure, a nationwide blockchain community constructed and maintained by MIMOS Berhad, the nation’s nationwide analysis and improvement heart.

“This platform will simplify entry to digital companies whereas sustaining the very best requirements of knowledge safety and consumer privateness. On the identical time, it can allow companies to unlock new alternatives and streamline their operations within the digital age,” commented Fadzli Shah, who heads MIMOS subsidiary, MYEG.

To ensure that synthetic intelligence (AI) to work proper inside the legislation and thrive within the face of rising challenges, it must combine an enterprise blockchain system that ensures knowledge enter high quality and possession—permitting it to maintain knowledge secure whereas additionally guaranteeing the immutability of knowledge. Check out CoinGeek’s coverage on this rising tech to be taught extra why Enterprise blockchain will be the backbone of AI.

Watch: Understanding the dynamics of blockchain & AI

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