AI News, Microsoft artificial intelligence

Microsoft – IDC Study: Artificial Intelligence to nearly double the rate of innovation in Asia Pacific by 2021

and Victor Lim, Vice President, Consulting Operations, IDC Asia/Pacific at the launch of the new study “Future Ready Business: Assessing Asia’s Growth Potential Through AI” Singapore, 20 February 2019 – By 2021, Artificial Intelligence (AI) will allow the rate of innovation and employee productivity improvements in Asia Pacific to nearly double (X1.9 times), according to business leaders in Asia Pacific.

“AI is the defining technology of our time that significantly accelerates business transformation, enables innovation, boosts employee productivity, and ensures further growth.  Economies and businesses that have yet to embark on their AI journey run a real risk of missing out on the competitive benefits that are enjoyed by leaders.” Why adopt AI?

For the organizations that have implemented AI initiatives, the top five business drivers to adopt the technology were (in priority order): Better customer engagement (26% of respondents named it as the number one driver);

They forecast further improvements of at least 1.8 times in the three-year horizon, with the biggest jump expected in accelerated innovation and competitiveness.” Asia Pacific needs to build on AI strategy, capabilities and infrastructure

“There is an urgent need for talents and tools to develop, deploy and monitor AI models, along with the availability of a robust data estate with the adequate governance.” Business leaders who are adopting AI face three top challenges: a lack of thought leadership and leadership commitment to invest in AI;

More than half of the business leaders and workers surveyed believe that cultural traits that support AI journeys, such as risk-taking, proactive innovation, as well as cross-function partnerships among teams, are not pervasive today.

“When it comes to creating or replacing jobs, 18% of business leaders believe that AI will produce new jobs, whereas 15% feel that the technology will replace jobs.

They must have the urgency to support the fundamental shift in training workers for the future.” “The jobs of today will not be the jobs of tomorrow, and we have already seen demand for software engineering roles expand rapidly beyond just the tech sector.

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