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.
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.