Kuala Lumpur, Nov 5 — Deputy Finance Minister Liew Chin Tong has called on accountants and finance professionals to develop a broad range of skills beyond traditional number crunching. He highlighted how artificial intelligence is transforming the sector with both opportunities and challenges.
Speaking at a professional gathering, the minister stressed the need for multidisciplinary expertise. This approach combines core accounting knowledge with areas such as technology, data analysis, ethics, and strategic thinking. Such skills help practitioners navigate rapid changes driven by automation and digital tools.
Artificial intelligence offers clear benefits including faster processing of large data sets, improved accuracy in audits, and enhanced forecasting capabilities. These advancements allow finance teams to focus on higher value advisory roles rather than routine tasks. However, the technology also raises concerns about potential job reductions in entry level positions and the requirement for continuous upskilling.
Liew noted that professionals who remain adaptable will thrive in the evolving landscape. He encouraged universities and training bodies to update curricula accordingly. Integration of subjects like machine learning, cybersecurity, and regulatory compliance was recommended to prepare graduates effectively.
The finance sector in Malaysia has seen steady growth in recent years. Demand for qualified personnel remains high across banking, corporate services, and public sector roles. Yet the pace of technological change means static skill sets are no longer sufficient. Multidisciplinary training can bridge gaps between financial reporting and emerging fields such as sustainable investing and digital currencies.
Industry observers have welcomed the remarks. They point out that firms adopting AI tools report productivity gains but must invest in employee development to avoid skill mismatches. Workshops and certification programs focused on hybrid competencies are gaining popularity among mid career accountants.
Challenges include ensuring equitable access to training resources across different regions and company sizes. Smaller practices may face difficulties in affording advanced software or specialized instructors. Government support through incentives or partnerships could help address these disparities.
Liew also touched on ethical considerations surrounding AI use in finance. Transparency in algorithmic decision making and protection of sensitive data were identified as priorities. Professionals equipped with knowledge in these areas can contribute to responsible implementation of new technologies.
Looking ahead, the minister expressed optimism about the profession’s future. By embracing broader learning, accountants can position themselves as strategic partners in business and policy making. This shift aligns with national goals for a knowledge based economy.
Events like the recent gathering provide platforms for dialogue between policymakers, educators, and practitioners. Continued collaboration is essential to build a resilient workforce capable of handling both opportunities and disruptions from artificial intelligence.
In conclusion, the call for multidisciplinary skills reflects broader trends affecting professional services worldwide. Malaysia’s finance community stands to benefit from proactive adaptation that balances innovation with human expertise.
