Major layoffs in MCIL due to AI

Media Chinese International (MCILl) is considering to cut 44 per cent of its staff and replacing it with artificial intelligence (AI) as part of the modernisation of its operations.

“On the back of this, MCIL has initiated internal training for its staff to equip them with the necessary skills to effectively utilise AI tools,” Kenanga Investment Bank stated in its report.

The group would see its workforce reduced from 1800 to 1008 within the next two years.

MCIL is the parent company of China Press, Sin Chew Daily, and Nanyang Daily.

They are set to undergo layoffs as part of its ongoing restructuring efforts.

MCIL is the first company listed on both the Hong Kong Stock Exchange and Bursa Malaysia Securities Berhad and is led by Tan Sri Tiong Hiew King, a Sibu native, who serves as its honorary chairman.

MCIL newspapers, magazines, and books are available across Southeast Asia, China, and North America.

Kenanga Investment Bank said that MCIL could partner with emerging AI companies in China, such as Baidu and Tencent, to develop Chinese language content.

Kenanga Investment Bank also stated that MCIL would be teaming up with local publishers via the Malaysian Newspapers Publishing Association to collectively engage multinational AI companies.

In a related development, OpenAI announced its collaboration with news organizations to train its AI model and incorporate news content into the AI platform.

Uk-based Guardian also revealed that the Financial Times has incorporated news content into the AI platform as well

It has signed an agreement with OpenAI, licensing its content for AI model development.

Meanwhile in Malaysia, Astro Malaysia Holdings Media Prima and Star Media Group have taken similar steps.