SMEs Must Embrace Emerging Technologies To Strengthen Position In Global Supply Chain- Tengku Zafrul

KUALA LUMPUR, Oct 9 (Bernama) -- Small and medium enterprises (SMEs) must embrace emerging technologies to strengthen their position in the global supply chain, said the Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

This includes artificial intelligence (AI), robotics and automation, quantum computing and the Internet of Things (IoT), as well as Generative AI and Digital Twins, he said in his closing speech at the ASEAN SME Economic Conference today. 

He said that by adopting these technologies, SMEs could enhance productivity, efficiency and competitiveness, allowing them to integrate more seamlessly into global markets.

“We want SMEs to be established in this journey. So how can SMEs leverage AI? How can they leverage robotics, quantum computing? We need SMEs to elevate their processes so that they can plug in more seamlessly to the global supply chain and market themselves more successfully,” he said.

Tengku Zafrul added that AI would ensure consistent quality and reduce waste, making SMEs a trusted supplier in global electrical and electronic (E&E) supply chains. 

Meanwhile, he said robotics and automation would improve speed, accuracy and customer experience, enabling SMEs to serve multinational corporation clients more efficiently. 

“While quantum computing is still nascent for SMEs, there are already established platforms offering smart scheduling and resource optimisation tools. These help SMEs simulate production scenarios and adapt quickly to supply chain disruptions.

“Besides, there are already SMEs in the design and prototyping space that use GenAI to create product mockups, simulate performance and generate marketing assets,” he noted. 

At the same time, Tengku Zafrul and Minister of Entrepreneur and Cooperative Development  Datuk Ewon Benedick officiated the launch of CIMB OCTO Biz, a bold digital-first strategy. 

CIMB group chief executive officer Novan Amirudin, during a press conference, said the strategy reinforces CIMB’s role as a trusted banking partner and catalyst for both local and international expansion. 

“We see banking as a strategic enabler of growth, transformation and financial inclusion. Our focus is to equip businesses and communities with the capabilities and insights necessary to navigate a dynamic economic environment. 

“The launch of CIMB OCTO Biz underscores this commitment by delivering secure, seamless, inclusive and future-ready financial solutions that support sustainable business expansion across ASEAN and beyond,” he said. 

To date, more than half of CIMB's SME clients have already been onboarded onto OCTO Biz, which recorded a transaction value of RM17 billion across seven million transactions in 2025, underscoring its growing relevance and usage among businesses.

CIMB also launched the SME FlexiCash/-i, a revenue-based lending product that analyses account history and transaction behaviour to instantly grant businesses a pre-qualified financing limit, eliminating the administrative processes of traditional loan applications.

-- BERNAMA