logo
Anwar urges Asean to define global AI future through regional principles, ethics

Anwar urges Asean to define global AI future through regional principles, ethics

Yahoo4 days ago
KUALA LUMPUR, Aug 12 — Prime Minister Datuk Seri Anwar Ibrahim today called on Asean to seize what he described as a 'generational opportunity' to shape artificial intelligence (AI) in ways that are inclusive, ethical and anchored in the region's shared values.
He said the bloc's 700 million citizens, fast-growing digital economy and cultural diversity placed it in a unique position to bridge development gaps, empower small businesses, uplift rural communities and strengthen public services through AI.
'Our vision must be to harness AI not simply to catch up with the rest of the world, but to lead it — offering a model of innovation grounded in trust, rooted in equity and proudly shaped by Southeast Asian values,' he said in his keynote address at the Asean AI Malaysia Summit 2025 at Mitec here.
Anwar said the true measure of AI's success should be its ability to meaningfully improve lives in a sustainable, inclusive and just manner, rather than the sophistication of its technology.
He also outlined Malaysia's 'AI Nation Framework', introduced under the recently launched 13th Malaysia Plan, which he said would ensure AI works for all Malaysians by powering better governance, sparking innovation and improving livelihoods nationwide.
He said the framework is built on five pillars — forward-looking policies; an agile and digitally fluent workforce; secure and reliable digital infrastructure; the advancement of digital trust; and strategic investments to grow a thriving AI ecosystem through public–private partnerships and global collaboration.
'This is more than a roadmap. It is a movement. The Ministry of Digital, with the National AI Office at its core, will lead this initiative. Once, highways and ports powered our economic rise,' he said.
'Now we will build intelligent highways, secure data pipelines, future-ready talents and ethical guardrails for AI,' he added.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

These 2 FTSE stocks could benefit from the growth of AI and the demand for new data centres
These 2 FTSE stocks could benefit from the growth of AI and the demand for new data centres

Yahoo

time12 minutes ago

  • Yahoo

These 2 FTSE stocks could benefit from the growth of AI and the demand for new data centres

In my opinion, there are two FTSE stocks — Segro (LSE:SGRO) and Tritax Big Box REIT (LSE:BBOX) — that look set to gain from the anticipated explosion in the demand for data centres. According to McKinsey & Company, by 2030, $7trn will need to be spent globally on building the physical infrastructure necessary to house the servers and other hardware required to run artificial intelligence (AI) applications. Closer to home, Barbour ABI has found nearly 100 live UK planning applications for such properties. And reflecting their energy intensity, Mordor Intelligence reckons the capacity of domestic data centres will grow from 2,590 MW in 2025 to 4,750 MW by 2030. That's equivalent to an average annual increase of 12.9%. The country's number one As the UK's largest real estate investment trust (REIT), Segro already has a significant foothold in the market. It owns Slough Trading Estate, Europe's largest business park and home to the continent's biggest cluster of data centres. It also leases other warehouses to companies operating in the sector. Its tenants include Equinix and Digital Realty Trust, two of the industry's largest players. But its share price has disappointed recently — it's down 28% since August 2024. And the commercial property market can be volatile. However, its balance sheet is strong — its loan-to-value was 31% at 30 June. Also, 73% of its lettable area is located in seven countries in continental Europe, which provides it with a certain degree of diversification. Another option Tritax Big Box REIT, the UK's largest owner of logistics facilities, now has two data centres in its portfolio and has announced plans to build a new one near Heathrow airport. It anticipates spending £200m on similar properties in 2025 and £100m-£200m annually thereafter. It estimates the annual rental yield will be 9%-11%. Not surprisingly, the trust views the sector as one of its key growth drivers. As part of its expansion plans, Tritax has made an offer to buy Warehouse REIT. If the deal is successful, it will create a combined £7.4bn property portfolio. The takeover target has 409 tenants at 60 sites in England and Scotland. Immediate cost savings of £5.5m a year are expected. The proposed merger reflects a trend in the investment trust industry where stock market valuations are often lower than the value of the underlying assets. This apparent lack of appreciation from investors has frustrated directors and shareholders alike. Tritax presently trades at a 28% discount. Warehouse is valued at 11% less than its book value. Good for income One of the principal attractions of REITs is that to qualify for certain tax exemptions they must return at least 90% of rental profits to shareholders. This means they usually offer generous yields. For example, based on dividends paid over the past 12 months, Tritax is presently (15 August) offering a return of 5.6%. For comparison, Segro's is 4.6%. Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. However, the trust's dividend could come under pressure if interest rates remain at historically high levels. And possible vacancies remain an ever-present threat. But like Segro, I think Tritax has exposure to a sector that's going to see significant growth over the next decade or so. Those that agree with me could consider adding either of them to their portfolios. The post These 2 FTSE stocks could benefit from the growth of AI and the demand for new data centres appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool James Beard has no position in any of the shares mentioned. The Motley Fool UK has recommended Segro Plc, Tritax Big Box REIT Plc, and Warehouse REIT Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025

CoreWeave (CRWV) Insiders Sell over $1B Worth of Shares as IPO Lock-Up Period Ends
CoreWeave (CRWV) Insiders Sell over $1B Worth of Shares as IPO Lock-Up Period Ends

Business Insider

time22 minutes ago

  • Business Insider

CoreWeave (CRWV) Insiders Sell over $1B Worth of Shares as IPO Lock-Up Period Ends

CoreWeave (CRWV) insiders began selling shares today after the AI data center company's IPO lock-up period expired. As a result, this triggered more than $1 billion in block trades that were organized by Morgan Stanley (MS), JPMorgan Chase (JPM), and Goldman Sachs (GS). Among those selling was board director Jack Cogen, who sold nearly $300 million worth of stock. Interestingly, even though CoreWeave's stock had plunged by 35% in the previous two days due to disappointing second-quarter results, shares stabilized around the $100 level to close slightly up on the day. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. The spike in trading activity happened because about 84% of CoreWeave's Class A shares became available for the first time since its IPO in March. According to the Financial Times, which cited sources close to the matter, banks scrambled on Thursday evening to arrange block trades as large as six to eight million shares. For context, block trades like these allow large investors to sell shares quietly, often at a discount, without overwhelming the market. Nevertheless, while CoreWeave has benefited from the AI infrastructure boom, concerns about its financial health are growing. Indeed, the company reported rising losses and surging operating expenses, which hit $1.2 billion in Q2 – almost four times higher than a year ago. On top of that, CoreWeave is facing investor pushback over its proposed $9 billion acquisition of Core Scientific (CORZ), as some shareholders of the target company have threatened to vote against it unless better terms are offered. It also doesn't help that, as of Thursday, 46% of CoreWeave's tradable shares were being shorted, thereby indicating that many investors are betting that the stock will continue to fall. Is CRWV a Good Stock to Buy? Turning to Wall Street, analysts have a Hold consensus rating on CRWV stock based on six Buys, 16 Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average CRWV price target of $115.29 per share implies 15.3% upside potential.

Meet the British billionaire who still works harder than anyone he knows
Meet the British billionaire who still works harder than anyone he knows

Yahoo

time39 minutes ago

  • Yahoo

Meet the British billionaire who still works harder than anyone he knows

'Foolish consistency is the hobgoblin of little minds'. This was a phrase used by economist John Maynard Keynes and he is so right. If you go down the status quo road, you will always be mediocre. You have to have alternative thought. It is a lesson the late Richard Thornton taught me. I had first met him at his London office in the late 1970s, having had no idea what I wanted to do after leaving university. I had studied economics at Oxford but didn't really know what a bond was. Richard was in a hurry to hire young people for his new company GT Management (now LGT) on a starting salary of £5,000 and the job based in Hong Kong. I was thrown into the deep end and within days I was managing other people's money. I didn't own a suit and I later used it as a rag to wipe my car down as it was so cheap. Read More: 'In our workplace, we look for passionate, slightly unhinged mountain climbers' The company grew very quickly into an international investment leader. In 1979, there were still capital controls from the export on foreign currency from the UK. When Margaret Thatcher came to power she abolished the premiums and there was a boom from the 1980s onwards. It was a great time to be a fund manager. Richard was in his late 40s, a ball of energy and was highly impulsive, which was a bad thing in fund management. I was his 'bagman', we travelled a lot to Japan, I had to prepare all the questions for meetings and it was a lot of fun. An office was later opened in San Francisco and I was put in charge as a 21-year-old of their US fund at the start of the tech boom. Richard saw me as a hard-working person and someone he could rely on. I later met a house build company in Ireland, said we should buy 25% of the company and so Richard invited the two brothers over for lunch. The fact they had six glasses of wine each didn't impress him and, thanks to his irascible temperament, said we had to sell all the shares, which then went up 100 times. Richard was later fired from his own company after shouting at a subordinate. He asked staff whether they would like to join him in a new company and the only person who said yes was me. Read More: 'I returned to my old office to sell ties after being made redundant' I could put up with his temper as I had a vision to be an entrepreneur and invested cash in a new business called Richard Thornton Management. We went to $1bn in a year and sold to Dresdner Bank four years later. It gave me enough money to start my own business as Richard had become very unpredictable and would take to phoning up staff very late at night. It's not the way I have ever operated and I now get up at 4am and don't work after 6pm. You have to have some rules in your life otherwise you will be overwhelmed. I also never shout at my employees, most of whom have been with me for 30 years. Treat people kindly and you get a lot more back. I gave up fund management in 2000 and since then I have maybe done too many things: biotech, property investment, the food business. I am interested in new things and have worked harder now than I did in my early twenties. Where most people talk about cultivated meat, 'clean food' is our definition of what we are now doing at Agronomics. We are trying to make it more accessible to investors and the general public and making bio-identical foods and materials using laboratory conditions. We are building a factory in the US dedicated to the production of dairy and egg proteins. We own 52% of the company and the $120m facility will be making eggs without chickens, dairy without cows, with very low emissions, no contaminants and low land and water use. In an industry where people are against it for luddite reasons, we started Agronomics four years ago and the asset value has trebled. We have two customers which will absorb the factory's capacity for the next five years. The UK is a leader in food tech and it's important for the government to get behind it. It's a growing eco system but it's not enough when you consider we import about half of our food into the UK. Read More: Meet Britain's 'king of billboards' who sold his business for £1bn We are in the same situation today of food insecurities as we were before the Second World War, so why would we not use our natural strength in this area at home? If I hadn't applied to Richard and got the job over 40 years ago, I would not have the luxury of doing passion projects like this which I now have. That is all down to him. He was very bright, intemperate and very disorganised. I'm maybe not as bright as Richard was, but I am very organised and temperate. Those three factors, plus working harder aged 68 than anyone I know today, is what gets me up in the morning and to be very joyous about life. Read more: Meet the 'jokers from London' who sold 100,000 blocks of butter in first 10 weeks 'My sofa took six months to arrive — so I built a £20m business' 'I paid myself £4 an hour to get my Rollr deodorant off the ground'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store