On 3rd October to 4th October 2018, Innovation Associates Consulting (iAC) has participated in Global Islamic Finance Forum (GIFF) 2018 that was held at Sasana Kijang, Kuala Lumpur. The theme this year emphasize on “Beyond Profit” as exhibitors take part in Value-Based Intermediation (VBI).
The forum brings together a panel of leaders in Islamic finance, policy decisions makers and sustainability experts around the globe to discuss VBI and to build a more sustainable global financial ecosystem. GIFF was launched by Governor of Bank Negara, Datuk Nor Shamsiah Mohd. Yunus.
GIFF is also a platform for local and regional financial institutions as well as enterprise traders to presents their role and services in Islamic Banking Institutions. GIFF at the same time promotes artificial intelligence (AI). With technology evolving in Islamic finance, it offers guidance and clarification on comprehensive products to the customers. AI applications simplified people live by helping business operations flows smoothly. Among those applications, iAC plays a role in explaining to the visitors about the company systems in banking solutions.
How successful is the participation?
iAC managed to generate interests among universities students, and stakeholders who are interested in our systems such as Hyperlabs & Intelligent Analytics Solutions and they are also seeking solutions from our consultants.
This event is considered an eye-opening for both sides as they get to see the progress of the Islamic finance industry works in the presence of AI.
According to Bank Negara of Malaysia, over 50% of the worlds’ asset management has already embracing AI to quantify a stock’s performance and company’s sustainability. We’re moving towards the era of digitization, where adapting AI is essential.
GIFF 2018 highlights the importance of embracing the VBI principle and AI applications into the Islamic finance industry. It’s seen as a game changer in driving the Islamic finance industry to elevate their growth, giving equal importance to social, ethical and environmental considerations towards sustainable value creation.