Issue link: https://maltatoday.uberflip.com/i/1512356
5 NEWS 30.11.2023 AN international collaboration with offices at the Gozo Innovation Hub is developing a conversational chatbot in the Maltese language to be used in the banking, finance and insurance, and in- vestments services sectors. e strategic partnership in this ground-breaking AI project will see the advanced ChatBot communicating with customers in the financial servic- es sector, providing customer care sup- port in Maltese. In fact, the Maltese language will be the first to be rolled-out, whilst other languages will follow. During a visit by Enterprise Minis- ter Miriam Dalli, Gozo Minister Clint Camilleri and Malta Enterprise CEO Kurt Farrugia, the developers ex- plained that the primary objective of the €3 million project was to develop an innovative conversational platform utilising cutting-edge AI and machine learning technologies while leveraging highly advanced cloud computing ca- pabilities. e first prototypes to be developed will primarily operate in the field of financial services, however, such an advanced chatbot can eventually be deployed in other sectors, including public service, tourism, customer ser- vices, and other e-commerce services where online channels are available. e project, titled e New Era of Chatbot, is receiving support from Malta Enterprise under the Research and Development Scheme. It repre- sents a strategic collaboration between Cartesio Ltd and the University of Mal- ta, in partnership with AI and cloud technology enablers Noovle Interna- tional, who already have a presence in Gozo. "is is the type of investment we want to attract to our shores as we con- tinue pushing for a knowledge-based economy. AI has seamlessly integrated into our daily routines and is increas- ingly crucial across different indus- tries," Dalli said. "Simultaneously, Malta Enterprise supports companies in transitioning to digitalisation through research and de- velopment initiatives, prioritising sus- tainability, and fostering continuous innovation. rough Malta Enterprise we are proud to continue supporting companies who invest in research and innovation and use our islands as test- beds for the development of their pro- jects." Camilleri said that this company, which is based in Gozo, goes hand in hand with the strategy for Gozo launched by the government in order to continue attracting more companies that work in research and innovation. "Today we had the opportunity to understand how this chatbot works, which with the system that has been developed will be able to understand and also respond to the consumer in Maltese," he said. "It is certain that a chatbot like this will be used in more sectors such as banking, financial and customer facing ones so that through this system, citi- zens receive a better service." Valentino Benicchio, Director, Noov- le International, stated, "We are keen to explore new R&D opportunities in Malta in the fields of sustainability, in- novation and other smart technologies where we can leverage our capabilities and experience, which can be applied in public services or the private sector." Francesca Caruso, Director of Car- tesio Ltd, stated, "We are proud to be here today, not only as a testament to the power of innovation but also as a testament to the fruitful partnership between the public and private sectors in Malta." She explained how a corner- stone for the success of this project has been the symbiotic relationship be- tween academia and industry. "Collaborations like this provide our students and researchers to see their research results embedded in a tangi- ble product that can be of service to so- ciety, whilst at the same time advancing our research knowledge and capacity," Dr Claudia Borg, senior lecturer on AI at the Faculty of Information and Communication Technology said. "Our research group is continuous- ly advancing Maltese processing tools and this project provides the right plat- form to showcase our work." Gozo-based international collaboration develops first ChatBot of its kind in Maltese "TALENT retention has al- ways been essential for any successful business, and its importance is always on the rise as trends are amplifying the impact of losing skilled employees," Claire Falzon, Manager, Bancassurance Of- fice at Bank of Valletta, said during the presentation of the MHRA – BOV – Deloitte Hospitality Survey results presentation for the third quarter of 2023. Falzon said that a voluntary occupational pension scheme, or workplace pension' was an ideal instrument that ensures that the current standard of living can be maintained upon retirement. "This is a big opportunity for forward-thinking employers to provide their employees with additional benefits, that go beyond the standard sal- ary and working conditions through a scheme where both parties can contribute into building a pot that can sup- plement one's pension when pensionable age is reached," she said. The schemes currently ben- efit from government tax re- bates for both parties with the employer setting up the scheme and defining its pa- rameters and the contribu- tion made by the organization towards each employee. "This is a very important step for an employee who is seeing to bridge the gap be- tween the state pension and the level of one's lifestyle upon retirement, while in- creasing the attractiveness of the company, both with the current workforce and to at- tract new talent," Falzon said. Bank of Valletta is offering its expertise and guidance to organisations wishing to set up a Voluntary Occupational Pension Scheme for their em- ployees, as well as to any indi- viduals who have their future financing at heart. Bank of Valletta has built a long-term partnership with the Malta Hotels and Restau- rants Association (MHRA) with both parties sharing ex- pertise and industry insights and identifying opportunities that can benefit the MHRA's members and their employ- ees. BOV boosting employee retention through occupational pension schemes BOV and MHRA enjoy a long-standing partnership From right: Enterprise Minister Miriam Dalli, Gozo Minister Clint Camilleri and Malta Enterprise CEO Kurt Farrugia meeting the chatbot's developers