Paving the way for disruptive change in the education and financial sectors through a Research Lab on Generative AI
KUALA LUMPUR, 2 NOVEMBER 2023 – HELP University (HELP) through the Faculty of Computing and Digital Technology forms a strategic collaboration and signs a Memorandum of Understanding (MoU) with Alliance Bank Malaysia Berhad (ABMB) to introduce the very first Research Lab on Generative AI in Malaysia, between a higher education institution and a financial institution. The collaborative efforts of these esteemed institutions promise not only to transform the financial industry, but also to revolutionise the education landscape.
The inception of this research innovative initiative is rooted in an essential question – Can we use AI to predict the success of new banking products? The question birthed an endeavour that has the potential to reshape product development, decision making, and market survey processes in the banking and financial services sector.
The establishment of the joint Research Lab on Generative AI has positive impacts on education and the financial industry, whereby the educators and students will gain the ability to synthetise authentic case studies and fuel further research using real-world use cases and requirements. This enhances their academic experience and prepares them for the dynamic industry challenges. The financial industry stands to benefit from this collaboration through the integration of cutting-edge findings into their operations and gains a competitive edge in developing and launching new products. The predictive power of AI and machine learning also enables faster, more-informed decisions, reduces survey cost and fosters innovation in product design
“Together with ABMB, we integrate innovation and advanced technology in a research project and create another milestone in education. It is also the first-of-its-kind research lab between the two institutions where students gain invaluable real-world experience while contributing to groundbreaking research. It’s a win-win for academia and industry, promising to redefine how education and industry intersect,” said Professor Dr Liew Teik Kooi (Andy), Vice Chancellor of HELP University.
The Research Lab collaboration represents a new model of co-operation that promises to seed innovations in fintech and banking while simultaneously accelerating the transformation of academic knowledge into practical applications for the industry. It aims to disrupt the traditional implementations of the business and revolutionise the development of distinctive financial services products.
“At Alliance Bank, we strive to attract, develop and retain the brightest talent. By establishing long-term collaboration with universities, the Bank aims to attract and hire top graduates while providing exciting development opportunities to further increase graduate employability. Through partnership such as this with HELP University, we firmly believe that it will strengthen our brand presence among the students through long and short-term initiatives such as joint research projects, development of joint curriculum and participation in guest lecture particularly in the area of computer science and digital technology,” said Group Chief Human Resource Officer of Alliance Bank, Khim Tan.
HELP’s Master of Data Science students involved in the research could also intern and be trained at ABMB, by which will be advantageous to both parties as ABMB will be able to tap into the knowledge and experience of the students, whilst the students gain various exposures at a financial institution. This breakthrough alliance is set to pave the way for disruptive change in both the education and financial sectors, ultimately reshaping how ideas and research findings are translated into real-world applications.
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About HELP University
HELP University was founded in 1986 and it has developed into a leading institution of higher learning in Malaysia. HELP University offers a wide range of social science, and humanities programmes, and is renowned for its psychology, accounting, business, law, education, and IT programmes.
In 2019, HELP University was awarded the Premier Digital Tech Institution (PDTI) status by the Malaysian Digital Economy Corporation (MDEC) for being a leading digital tech-focused institution that produces high quality graduates for the workforce.
In 2020 it was awarded an overall 5 Stars rating by the Quacquarelli Symonds (QS) an annual publication of university rankings. QS also awarded 5 Stars to HELP for the following categories: Teaching, Employability, Academic Development, Internationalisation, Facilities, Social Responsiveness, Inclusiveness, and Business and Management Studies (MBA). In 2021, HELP University was ranked No 1 among 650 universities in Asia for Outbound Student Exchange programmes by QS Rankings World University Ranking: Asia 2021.
Visit https://university.help.edu.my for more information on HELP University.
HELP University’s Media Contacts:
Juliet Chan
Director, Corporate Communications
E: juliet.chan@help.edu.my
Heikal Mutadir
Assistant Manager, Corporate Communications
E: heikal.m@help.edu.my
About Alliance Bank Malaysia Berhad
Alliance Bank Malaysia Berhad and its subsidiary, Alliance Islamic Bank Berhad, offers banking and financial solutions through its consumer, SME, corporate, commercial and Islamic banking. The Bank provides easy access to its broad base of customers throughout the country via multi-pronged delivery channels that include retail branches, Privilege Banking Centres, Business Centres, Investment Bank branches, and mobile and Internet banking.
For more information on this press release, please contact Eddy Teh at 017-758 6519 or eddyteh@alliancefg.com