According to a report by Infobip, share of AI investments in generative AI (GenAI) within the Asia-Pacific (APAC) region is expected to rise from 15 per cent to 29 per cent by 2027.
The report noted that, several business functions are being prioritised for GenAI initiatives. Among the top areas that C-Level Execs are looking into using GenAI are operations (47 per cent), customer experience (38 per cent), and marketing (33 per cent).
The report also noted that business sectors in the APAC region adopting GenAI are mirroring the trends of the world’s leading adopters, particularly in the transportation and logistics (74 per cent), telco, media and entertainment (72 per cent), financial services (59 per cent), and healthcare and life sciences (54 per cent) sectors.
Further, key factors driving this adoption include the rapid pace of technology integration like GenAI (33 per cent), increasing costs of customer experience (CX) transformation services (32 per cent), and heightened digital offerings from competitors (31 per cent).
Despite the significant potential of GenAI to transform customer experiences, only 18 per cent of businesses in the APAC region are in the early stages of AI adoption, while 64 per cent have utilised AI or machine learning (ML) in specific applications. Additionally, just 18 per cent of APAC businesses possess advanced AI/ML. The slow uptake of GenAI among organisations may stem from several critical challenges that need to be resolved, including regulatory compliance and security issues.
