"Data and AI Pulse: Asia Pacific" - Powered by SAS Institute
SAS Institute discusses recent research on AI and data trends in the Asia Pacific region.
Key highlights
Research Overview:
- Discussion about recent research highlighting the state of AI adoption in the Asia Pacific.
- Key statistics: 40% of businesses expect a threefold ROI on AI investments, with global AI spending estimated to reach over $90 billion by 2027.
Challenges in AI Implementation:
- Difficulties in achieving expected results from AI investments due to challenges in data sourcing, skills acquisition, and regulatory compliance.
- ROI expectations for AI projects often deemed unrealistic by industry professionals.
Key Findings:
- Predictive and interpretive AI are overtaking GenAI in terms of investments.
- Organisations are also struggling to find the right use cases for GenAI.
- Emphasis on the importance of trustworthy AI and governance.
Scaling AI Projects:
- Leaders in AI adoption cited for successfully scaling projects beyond proof of concept.
- Importance of having the right teams, using low-code/no-code approaches, and developing compelling business cases.
Role of Compliance:
- Successful organisations are integrating compliance and ethical considerations into their AI lifecycle from the outset.
- Regulatory frameworks, particularly those in regions like Singapore, play a crucial role in ensuring transparency and trust in AI models.
Future Predictions:
- Responsible AI to become a central focus as global governments introduce and tighten AI regulations.
- Increased skills availability and new business models expected to drive higher AI adoption rates.
Conclusion
Overall, the session emphasises the importance of strategic planning, ethical considerations, and realistic expectations in AI investments.
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Speakers:
- Dr. Chris Holmes, Editorial Director Asia, CIO.com
- Deepak Ramanathan, Vice President, SAS