Zetrix, Universiti Malaya, and CAICT Collaborate to Advance AI in Cross-Border Trade

Zetrix, a leading public blockchain platform developer in Malaysia, and Universiti Malaya (UM), the country’s premier research university, have announced a collaboration with China Academy of Information and Communications Technology (CAICT) to spearhead cutting-edge Artificial Intelligence (AI) technology. This partnership is part of an ongoing intergovernmental research collaboration between Malaysia and the People’s Republic of China in the field of Science, Technology, and Innovation.

The joint project, titled “Research on Key Issues of Transborder Blockchain Infrastructure and Pilot Applications,” was selected as a key initiative in this prestigious intergovernmental collaboration. Led by the Chinese government’s government-to-government (G2G) program and initiated by the Ministry of Science and Technology (MOST) of China, the collaboration aims to foster research partnerships between the Chinese government and overseas governments.

Malaysia is one of the 14 countries participating in this program, with a specific research focus on leveraging AI to streamline and optimize cross-border trade processes. The ultimate goal is to reduce inefficiencies and enhance the overall ease and speed of cross-border transactions.

TS Wong, Group Managing Director of MYEG Services Bhd (MYEG 0138), the parent company of Zetrix, expressed enthusiasm for the expanded research focus. Wong emphasized the disruptive potential of AI and Web 3 technologies in transforming digital services. He stated, “Our partnership with UM and CAICT continues to be instrumental in our journey towards leveraging 4th Industrial Revolution (4IR) technologies to transform cross-border trade and settlement.”

Dr. Saaidal Razalli Azzuhri, the lead researcher at UM, highlighted the significant benefits of incorporating AI into their ongoing research work. Dr. Azzuhri stated, “The combination of AI and blockchain technology opens up a whole new realm of possibilities. We anticipate breakthroughs that will greatly enhance the efficiency and security of cross-border trade.”

This collaboration comes at a timely juncture as Zetrix leads the way in deploying services at the intersection of blockchain and AI. Last month, Zetrix successfully implemented its Digital Identity Service, a pioneering decentralized identity service compliant with the Web3 Consortium (W3C) standards. This service allows for the verification and differentiation of online engagements with real humans from those with AI agents.

The collaboration between Zetrix, UM, and CAICT represents a significant stride towards international cooperation in AI research. It underscores the importance of knowledge-sharing and international collaboration in harnessing the full potential of AI to advance cross-border trade, ultimately contributing to a more connected, efficient, and prosperous global economy.

15 June 2023

Author: Terry KS

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