Infosys Claims AI Investment Will Triple To Rs 29,000 Crore In Asia-Pacific Region


Mohul Ghosh

Mohul Ghosh

Feb 07, 2024


Considering the latest trend of use of Artificial intelligence throughout the industry, various firms all over the Asia-Pacific region seem to nearly triple their investments in generative artificial intelligence (Gen AI), as per a latest research done by the Infosys Knowledge Institute.

Infosys Claims AI Investment Will Triple To Rs 29,000 Crore In Asia-Pacific Region

More Investment On Gen AI In Asia Pacific Region

To be specific, they are planning to invest almost $3.4 billion worth during 2024.

Out of them, China itself leads the region having investment anticipated to reach by more than 160% to $2.1 billion, according to the finding from the research arm of Infosys.

Here, this research is primarily based on interviews which were conducted with business leaders and AI practitioners.

The survey was conducted with over 1,000 respondents.

Further, this survey indicates that the spending in Australia and New Zealand will be close to China. 

If we go by the figures, the investments by these two countries are expected to stand over 150% to $151 million from $60 million in 2024.

While talking about this research, Infosys said, “Australian companies are more likely to deliver business value from Gen AI investments than European and North American counterparts.” 

In essence, the survey reveals that almost $3.4-billion investment will be done across the countries including Australia, New Zealand, China, Japan, India, and Singapore.

Impact On Reputation & Employee Reputation

But the road towards this development is not that smooth as the biggest obstacles to adoption in the Asia-Pacific region includes caution around responsible AI as they were having concerns about impact on reputation, and employee readiness.

As compared to the other regions, companies are more likely to focus on product development and content generation in the region, indicated as another key finding from the research.

The Executive Vice President, Asia Pacific, Infosys, Andrew Groth said, “Although company leaders across APAC (Asia-Pacific) have been more cautious than companies in the rest of the world, they are set to outpace firms in other regions.” 

The companies in this region are already delivering more value from their spending on gen AI, Groth added.


Mohul Ghosh
Mohul Ghosh
  • 601 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Technology
Sep. 8, 2022

Samsung Launches The Wall All-In-One and Flip Pro: Is This The Future Of Display Technology?

Samsung has launched The Wall All-In-One – the modular MicroLED it says is revolutionizing the future of display and the Flip Pro, which is an interactive display. Both were unveiled at the InfoComm India 2022 which is India’s Professional AudioVisual (Pro AV) and Systems Integration Technology Exhibition. This took place in Mumbai from September 5-7. […]

Technology
Jul. 28, 2022

Google Street View Launches In India Across These 10 Indians Cities! Plans To Expand To 700,000 Kms, 50 Cities In 2 Years

Google’s Street View is finally available in India a decade after it was prevented from capturing data for its Street View services. Second coming Street view offers a 360-degree interactive panorama feature initially for 10 Indian cities with data from local partners Tech Mahindra and Mumbai-based Genesis International. Its entry into India is facilitated by […]

Technology
Jul. 10, 2022

This Electricity-Free Cooler Developed By IIT Researchers Can Replace Air Conditioners! How It Work?

Indian Institute of Technology Guwahati researchers have built a ‘Radiative Cooler’ which does not require electricity to operate. This is an affordable and efficient ‘passive’ radiative cooling system that can serve as an alternative to ACs. The coating material is an electricity-free cooling system that can be applied in the rooftops and functions during both […]

Technology
Jun. 27, 2022

This New Battery Will Enable Electric Cars To Run 1000 Kms In Single Charge! Will This Transform Electric Mobility?

Chinese company Contemporary Amperex Technology Co Ltd (CATL) has developed a battery that gives EVs a driving range of over 1,000 km or 621 miles on a single charge. About the company The company is China’s leading automotive lithium-ion battery maker. Tesla, Volkswagen, BMW, and Nio are among the companies for which CATL supplies batteries. […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online