Developing countries in the Asia Pacific (APAC) region are adopting generative artificial intelligence (gen AI) at a faster pace than developed countries, driven by younger workers and students, according to a new study by Deloitte.
Deloitte 2024 Survey investigated The survey of more than 11,900 people, including nearly 9,000 employees and 2,900 students in the Asia Pacific region, found that Generation AI is already changing the way people in APAC work, with younger generations leading the Generation AI revolution: Across the region, 43% of employees and four in five university students said they are using Generation AI in their work or studies.
The survey highlighted that younger people are more likely to already be trying and using the technology: 18-24 year olds are almost twice as likely to use first-generation AI compared to older workers, indicating that age and earlier exposure to digital technology are driving higher use of first-generation AI.
Gen AI usage in Asia Pacific, Source: Deloitte Gen AI Survey, 2024
Developing countries in Asia Pacific lead the way in AI adoption at rates roughly 30% higher than developed countries. Specifically, India (32% of those surveyed) and Southeast Asia (19%) have much higher rates of everyday AI use compared to Australia (8%) and Japan (4%).
Developing countries in Asia Pacific have higher rates of generational AI adoption. Source: Deloitte Generational AI Survey, 2024
According to Deloitte, this adoption gap partly reflects the higher proportion of “digital natives” in developing countries. Indeed, 46% of those surveyed in India were between 18 and 35 years old, compared to 30% in Japan.
Additionally, we found that employees in developing countries are more enthusiastic about Gen AI: 53% of employees and students in developing countries say they are excited about Gen AI technology, compared to 23% of students and employees in developed countries. In contrast, 36% of employees in developed countries are primarily anxious about Gen AI, compared to just 12% in developing countries.
The rise of next-generation AI
Asia Pacific companies are aggressively experimenting with and adopting Generation AI. Deloitte predicts that investments in Generation AI will grow most rapidly in India, Indonesia, and the Philippines, where adoption rates are already high. International Data Corporation share The view predicts that AI generation investment in Asia Pacific will grow by 95.4% annually between 2022 and 2027, reaching US$26 billion.
The growing adoption of Gen AI is also reflected in a surge in investment in startups in the space: Over $25 billion is expected to be invested in Gen AI startups in 2023 and reach new heights in 2024 with $18.8 billion raised in the first five months of the year, Dealroom said in its data. show.
Global Generation AI VC Investments, Source: Dealroom, 2024
Unsurprisingly, the United States leads in AI venture capital (VC) funding ($53.6 billion), followed by Europe ($6.1 billion) and Asia ($4.7 billion).
Generative AI VC Funding by Region, Source: Dealroom, 2024
There are more than 400 AI startups around the world. Deal Room and CB InsightAmong them are some big names in Asia: China-based Gemsouls, which is developing an AI platform for virtual characters, said it has raised $4 million in venture capital funding. CB Insight and PitchBookSingapore-based iNextLabs Build It offers cutting-edge AI solutions for a variety of business needs, including data analysis and content generation. Hypotenuse.ai, also based in Singapore, offers AI-powered writing and illustration tools. Raised about $150,000And Bitnal from Korea, Specialize in Next-generation AI-based automated modeling and medical solutions.
Generation AI Predictions
Looking ahead, generational AI innovation is expected to continue to grow: market intelligence platform CB Insights predicts that 2024 will be focused on sustainable AI operations, creating solutions that stick, addressing societal impacts, and shifting the cybersecurity paradigm.
The report states: release Earlier this year, CB Insights highlighted the surging demand for high-powered AI data centers as AI adoption expands, the challenges for traditional data center infrastructure, and the growing need for cooling technology and renewable energy to power these data-hungry operations. It also highlighted the looming data shortage issue and the shift by companies to use synthetic data to train language models. These factors present an opportunity for startups focused on generational AI infrastructure.
The report also explores the rise of multimodal AI, where models that can understand and act on different data formats, such as text, images and video, unlock new business opportunities. Offers Prostate cancer screening that analyzes both biopsy images and patients’ clinical data to predict patient outcomes. Google’s multimodal model PaLM-E targets robotics, combine Robot sensory data for vision and language, and ghost autonomy It has been incorporated Applying multimodal LLM to autonomous vehicle applications.
The report also covers the emergence of smaller, more efficient language models that challenge the dominance of large, resource-intensive models, which are expected to take over narrower tasks in the fields of finance, medicine, and law. Palmyra MedFor example, Writer has a model built specifically to meet the needs of the healthcare industry, Arcee Developed Specialized language models for legal, medical, and financial domains.
The CB Insights report also explored the huge productivity gains being seen in white-collar jobs thanks to AI tools developed by McKinsey & Company to automate tedious tasks. Quote It could add between $2.6 trillion and $4.4 trillion worth of value to the global economy annually.
Finally, the report points out that there has been a significant increase in deep fakes and email phishing attacks, and that AI-based cyber attacks are on the rise. Reports Global weekly average cyber attacks per organization will reach an all-time high of 1,258 in Q2 2023. Sumsub 2023 Identity Fraud Report reveal There will be a tenfold increase in the number of deepfakes detected worldwide between 2022 and 2023, with the cryptocurrency and fintech sector accounting for 96% of those. In the fintech sector alone, deepfake incidents in 2023 increased by 700% year-on-year.
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