Indian real estate firm Eros to invest $1 billion in Malaysia’s first AI park

Indian real estate firm Eros Investments Group and its arm, Immerso AI-IP, will invest $1 billion to build Malaysia’s first artificial intelligence (AI) park and movie studio, minister of digital Gobin Singh Deo said in a post on social media X, formerly known as Twitter.

Deo was part of the delegation that accompanied Malaysian Prime Minister Anwar Ibrahim on a three-day visit to India last week.

India and Malaysia had decided to establish a joint digital council and signed a memorandum of understanding (MoU) to exchange digital technology-based solutions and explore business-to-business partnerships among industry players in both countries.

“It (AI park) will drive global collaborations to support startups. The AI movie studio and film city hub will enhance talent skills in transmedia and digital production in Malaysia. The ventures will also identify opportunities to incorporate Malaysian content into the companies’ existing and new intellectual properties (IPs),” Deo said in a post on X.

FMT: Indian firm to set up Malaysia’s first AI park

“It will drive global collaborations to support startups. The AI movie studio and film city hub will enhance talent skills in transmedia and digital production in Malaysia. The ventures will also identify opportunities to…

— Gobind Singh Deo 🇲🇾 (@GobindSinghDeo) August 29, 2024

Seven global Indian companies in Malaysia have committed to training and hiring at least 5,000 Malaysians following the signing of the MoU between the Malaysia Digital Economy Corp. (MDEC) and  Indian IT sector lobby  National Association of Software and Service Companies (Nasscom), Malaysia’s digital ministry said in a statement.

The training and hiring scheme with the seven companies will take place over three years, beginning this year. More companies are currently being discussed as part of this initiative, the statement said.

Deo had met Ali Hussein, chief executive of Immerso AI-IP, and other business leaders in New Delhi, Free Malaysia Today reported.

Deo told a bilingual news portal that Immerso AI-IP’s venture can potentially create 5,000 jobs over the next five years, adding that the AI park will encompass an AI university and an AI data center.

He said that the AI park will drive global collaborations to support startups, with the AI movie studio and film city hub enhancing skills in transmedia and digital production in Malaysia, he added.

The venture will also identify opportunities to incorporate Malaysian content into the companies’ existing and new IPs.

MDEC and Newscom’s partnership will see local talents trained in several key digital areas: generative AI, cybersecurity, software development, and next-generation technologies.

“As the … (Malaysian) government continues to build world-class infrastructure and create a digital trust to attract investors, a crucial component to accelerate outcomes is talent,” Deo said. “Creating talents is extremely vital in this rapidly evolving digital world, where new technologies are evolving daily. It starts with educating youths while reskilling and upskilling those already in the workforce.”