“Malaysia’s First A.I Platform for Families with Special Needs”
: One-stop shop platform to help parents resolve financial and non-financial issues associated with special needs children
Ipoh, 29thDecember 2019 – For families with special needs children, planning for their future and meeting their current needs are the two most critical aspects of their job. These needs can now be met with the development of an expert system that profiles and analyses such families’ current and future requirements; with access to curated and customised information pertaining to autism such as help centres, counsellors, financial advisors, psychologists, educators and more.
Called Better Life, Optimisation of Money (BLOOM), the platform assists parents plan their children’s financial needs based on key expenditures categories including food, transport, education, housing and more. It also helps monitor the SNC’s current financial demands and predicting future expenditure and income levels. Most importantly, BLOOM will prescribe strategies on how parents can achieve the financial goals with suggested action steps across the short, medium and long term.
According to M. Nazri, President/Founder of MyFinB and Centre of Excellence in AI Innovation (CE.AI), “The BLOOM analytical platform provides concrete steps for families to become financially sustainable while managing the daily needs of their children with special needs. In addition, the marketplace platform connects parents with specialists and experts based on the specific requirements of each family.”
Dean of QIU’s Faculty of Science and Technology Professor Dr Vilasini Pillai added, “Parents or caregivers of SNC face challenges in setting aside adequate finances for themselves and their children. The BLOOM system will provide parents and caregivers with short, medium and long term strategic plans that ensure their financial goals are achieved and their children with special needs will be taken care of up until they fend for themselves. This will help policy makers like Ministry of Women, Family and Community Development in devising and implementing programmes in accordance with government’s aspirations as per the 11th Malaysia Plan 2016-2020 and National Strategy for Financial Literacy 2019-2023.”
Ridzuan Aziz, Co-Founder of CE.AI and President of the Fintech Association of Malaysia envisaged, “Using AI would enable the households with SNC to have better lives by guiding them with specific outcomes. In Malaysia, this is much needed and the only way to do this is to leverage on digitisation.
BLOOM is part of a special scheme under the Digital AI Labs (DIAL) by MyFinB so that “every organisation can now own A.I”. For this project, MyFinB produces the AI algorithms and automated narrative engine while QIU provides its methodology and subject matter expertise in the financial planning for special needs children field to contribute towards the system development.
We started MyFinB (MFB) in order to fill a big need — giving management, board and decision makers a fast and simple way to understand complex and voluminous data. We feel that in today’s space, spending money sourcing and aggregating data, spreadsheets and dashboards as mechanisms to understand data simply aren’t value for money. People want the insights and recommendations the data supports—about their operations, about their business, about their future. And, what better way to tell stories than through analytics?
That’s why MyFinB is heavily focused on creating exceptional tool driven by our proprietary natural language generation platform that transforms basic financial data into meaningful and insightful narratives people can simply read – and more importantly, MAKE BETTER DECISIONS. MyFinB enables organisations to spend less time crunching numbers and more time providing their management and other stakeholders with actionable information that, ultimately, helps them make better financial decisions.
For more details, please visit www.MyFinB.com and email: corpcomms@MyFinB.com.
ABOUT QUEST INTERNATIONAL UNIVERSITY PERAK
Quest International University Perak (QIU) is a private and comprehensive research-led university established under the Higher Educational Institutions Act 555 and owned by Global Integrated Training Associates Sdn Bhd (formerly known as Blair Education Services Sdn. Bhd) in the State of Perak, Malaysia on 12th June 2008 in which the State Government of Perak has equity participation along with the QI Group.
At QIU, we believe that planting the seeds of curiosity in students from the beginning will inspire them to make ‘knowledge-seeking’ their quest in life. As a private comprehensive university, students are our top priority. To engage the students and instill in them the hunger of knowledge, we believe in blending theory and practice in education. We ensure that our programmes are industry-relevant using motivational teaching methods which are highly effective.
At QIU, we focus not just on academics but also on instilling students with the “green” concept, where love for the environment and the community is nurtured amongst them. All QIU graduates will grow to become well-rounded citizens with an excellent education and a caring heart not just for other fellow humans but for the environment and Earth as well.
There are five Faculties and one Centre at QIU – the Faculty of Medicine, the Faculty of Science and Technology, the Faculty of Business and Management, the Faculty of Social Sciences, the Faculty of Pharmacy and the Centre for Research and Innovation. The University offers programmes at Foundation, Diploma, Degree and Postgraduate levels.
Further information can be obtained at www.qiup.edu.my