On 1 August 2024, the EU AI Act officially came into force, and it is deemed a notable moment in global AI regulation. The Act is the European Union's first comprehensive regulation designed to govern the development, deployment, and use of artificial intelligence, aiming to ensure that AI systems are safe, respect fundamental rights, and are transparent.



This legislation, however, doesn’t just affect companies within the EU, but also stretches far beyond Europe’s borders, so long as their AI systems are intended for the EU market, compelling AI developers around the world to reevaluate their practices.



With severe penalties for non-compliance and strict prohibitions on certain AI uses, understanding the Act is crucial for any business that aims to operate in the EU market. To help us understand further the nuances of manipulative AI, the challenges in biometric data handling, and explore what these new rules mean for AI-driven industries are Ong Johnson, Partner and Head of Technology Practice Group, and Lo Khai Yi, Partner and Co-Head of Technology Practice Group at Halim Hong & Quek.

On 1 August 2024, the EU AI Act officially came into force, and it is deemed a notable moment in global AI regulation. The Act is the European Union's first comprehensive regulation designed to govern the development, deployment, and use of artificial intelligence, aiming to ensure that AI systems are safe, respect fundamental rights, and are transparent.This legislation, however, doesn’t just affect companies within the EU, but also stretches far beyond Europe’s borders, so long as their AI systems are intended for the EU market, compelling AI developers around the world to reevaluate their practices.With severe penalties for non-compliance and strict prohibitions on certain AI uses, understanding the Act is crucial for any business that aims to operate in the EU market. To help us understand further the nuances of manipulative AI, the challenges in biometric data handling, and explore what these new rules mean for AI-driven industries are Ong Johnson, Partner and Head of Technology Practice Group, and Lo Khai Yi, Partner and Co-Head of Technology Practice Group at Halim Hong &amp; Quek.

Helping you navigate the ever-changing universe of business, from headlines to the bottom line

Helping you navigate the ever-changing universe of business, from headlines to the bottom line

Enterprise Explores

Prohibited AI Practices

The recent shortfalls of Kamala Harris’ presidential campaign had highlighted how missteps in communications and strategic alignment can impact even the most high-profile initiatives, showing how essential clear communication, and a deep understanding of audience needs are to any initiative’s success.



In today’s business environment, the lines between internal alignment and external success is blurred, making it critical for public-facing and internal campaigns to build trust and cohesion within the organisation first.



Cilia Rasasegram, Chief Experience Officer at Kindler Employee Experience Project, joins us to break down what makes or breaks a campaign. Together, we also explore the parallels between impactful campaign strategies and strong organizational culture, uncovering lessons that can resonate from the boardroom to the brand message.

The recent shortfalls of Kamala Harris’ presidential campaign had highlighted how missteps in communications and strategic alignment can impact even the most high-profile initiatives, showing how essential clear communication, and a deep understanding of audience needs are to any initiative’s success.In today’s business environment, the lines between internal alignment and external success is blurred, making it critical for public-facing and internal campaigns to build trust and cohesion within the organisation first.Cilia Rasasegram, Chief Experience Officer at Kindler Employee Experience Project, joins us to break down what makes or breaks a campaign. Together, we also explore the parallels between impactful campaign strategies and strong organizational culture, uncovering lessons that can resonate from the boardroom to the brand message.

The Anatomy of Effective Campaign Strategies

Early-stage investing is inherently risky, with failure a natural part of the process, so was the public’s reaction to the Fashion Valet saga—a RM44 million loss for Khazanah and PNB — justified, or an overreaction? And what role should GLICs and other large institutions play in the venture capital and startup ecosystem? In this episode of Enterprise Explores, we unpack key lessons to learn from the Fashion Valet saga with Kevin Brockland, Managing Partner at Indelible Ventures.



We dive into the challenges, complexities, and strategic considerations for public funds in high-risk startup investing. Kevin also shares insights on the specialised skills needed for early-stage investing, the importance of transparency, and how processes like releasing investment memos and committee minutes may help restore public trust.



We also explore how Malaysia’s GLICs could more effectively support the startup ecosystem by leveraging private sector expertise and adopting successful fund-of-funds models through initiatives like Jelawang Capital.



Key insights from the interview include:

- Understanding Startup Risk: Why the high failure rate in early-stage investing demands specialised knowledge.

- Differentiating Failure Types: The importance of distinguishing between “failure of outcome” (expected risks in startups) and “failure of process” (investment missteps).

- Strategic Investment Approaches for GLICs: Why public institutions may be better suited to supporting startups via grants or fund-of-funds models rather than direct investments.

- GLICs’ Role in Innovation: How Malaysia’s GLICs can enhance innovation by partnering with private sector experts and specialised fund managers.

- Advantages of the Fund-of-Funds Model: How Fund-of-Funds Model, like Khazanah’s Jelawang Capital, can strengthen the startup ecosystem by drawing on private expertise.

- Setting Public Expectations: Communicating the realities of high-risk investments to the public, especially regarding the inherent risks of loss-making and reinvestment for growth.

Early-stage investing is inherently risky, with failure a natural part of the process, so was the public’s reaction to the Fashion Valet saga—a RM44 million loss for Khazanah and PNB — justified, or an overreaction? And what role should GLICs and other large institutions play in the venture capital and startup ecosystem? In this episode of Enterprise Explores, we unpack key lessons to learn from the Fashion Valet saga with Kevin Brockland, Managing Partner at Indelible Ventures.We dive into the challenges, complexities, and strategic considerations for public funds in high-risk startup investing. Kevin also shares insights on the specialised skills needed for early-stage investing, the importance of transparency, and how processes like releasing investment memos and committee minutes may help restore public trust.We also explore how Malaysia’s GLICs could more effectively support the startup ecosystem by leveraging private sector expertise and adopting successful fund-of-funds models through initiatives like Jelawang Capital.Key insights from the interview include:- Understanding Startup Risk: Why the high failure rate in early-stage investing demands specialised knowledge.- Differentiating Failure Types: The importance of distinguishing between “failure of outcome” (expected risks in startups) and “failure of process” (investment missteps).- Strategic Investment Approaches for GLICs: Why public institutions may be better suited to supporting startups via grants or fund-of-funds models rather than direct investments.- GLICs’ Role in Innovation: How Malaysia’s GLICs can enhance innovation by partnering with private sector experts and specialised fund managers.- Advantages of the Fund-of-Funds Model: How Fund-of-Funds Model, like Khazanah’s Jelawang Capital, can strengthen the startup ecosystem by drawing on private expertise.- Setting Public Expectations: Communicating the realities of high-risk investments to the public, especially regarding the inherent risks of loss-making and reinvestment for growth.

FashionValet Fallout: Are GLICs Fit For Startup Investing?

A total of RM20 million has been allocated for the development of the e-sports ecosystem under the Budget 2025 and RM10 million from that total amount will be used for constructing a new e-sports stadium. But, is this a step in the right direction for Malaysia's e-sports industry?



In today's episode of Enterprise Explores, we explore how the proposed initiatives in the Budget 2025 support and promote the growth of Malaysia's e-sports industry, what else is the allocated funds going to be used for and whether it addresses the current gaps in the industry at ground-level like talent finding, sponsorships and mentorships, training programs and much more.



We speak with Mohd Syazwan bin Mohd Hanafie, Sports Manager at National Sports Council of Malaysia & Tiffani Lim, Athletes Committee Chairperson at International E-sports Federation (IESF) and also Malaysia's women's e-sports team manager.


Image Credits: Shutterstock

A total of RM20 million has been allocated for the development of the e-sports ecosystem under the Budget 2025 and RM10 million from that total amount will be used for constructing a new e-sports stadium. But, is this a step in the right direction for Malaysia's e-sports industry?In today's episode of Enterprise Explores, we explore how the proposed initiatives in the Budget 2025 support and promote the growth of Malaysia's e-sports industry, what else is the allocated funds going to be used for and whether it addresses the current gaps in the industry at ground-level like talent finding, sponsorships and mentorships, training programs and much more.We speak with Mohd Syazwan bin Mohd Hanafie, Sports Manager at National Sports Council of Malaysia &amp; Tiffani Lim, Athletes Committee Chairperson at International E-sports Federation (IESF) and also Malaysia's women's e-sports team manager. Image Credits: Shutterstock

Prohibited AI Practices

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