Tuesday, July 16, 2024
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Asia/Pacific* Takes the Lead in Generative AI Investments for 2023 Amidst Global Regulatory Evolution

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According to the IDC Report, the Asia/Pacific* (AP) region leverages its favorable regulatory environment to tap into the economic potential of Generative AI (GenAI). The region also actively explores novel technologies while dealing with fewer regulatory obstacles and receives strong government support for fostering innovation. Consequently, AP is already leading other regions in prioritizing GenAI investments.

This IDC study examines the vast opportunities and challenges of GenAI facing Asia/Pacific* governments. It comprehensively analyzes GenAI’s adoption trends supported by IDC survey data and market engagement. Emphasizing the crucial role of governments, it calls for robust regulatory frameworks based on validated AI principles. The report concludes by providing essential guidelines to effectively embrace GenAI, fostering responsible use and maximizing its transformative potential in the region’s digital economy.

Highlights of the report include:

  • Asia/Pacific* organizations lead in prioritizing GenAI investments due to its proactive stance on new technologies and government support. IDC Survey data shows that two-thirds of AP organizations are exploring potential use cases or are already investing in GenAI technologies in 2023.
  • The ongoing evolution of GenAI technology and data management presents challenges for governments developing regulatory frameworks that provide guardrails without creating obstacles to innovation.
  • Challenges to effective use cases include data quality, ethical issues, deepfakes, copyright and IP complexities, talent shortages, and high costs of the technology.
  • Governments in several countries in AP have already initiated guidelines that will likely shape the direction of future policy and regulatory frameworks. These guidelines include the adoption of key principles such as transparency, data protection, safety, IP protection, open data access, and ethical standards to address the immediate challenges.
Ravikant Sharma, Senior Research Manager, Government Insights, IDC Asia/Pacific.
Ravikant Sharma, Senior Research Manager, Government Insights, IDC Asia/Pacific.

“Asia/Pacific governments’ support have definitely spurred GenAI investments in the region. However, it is imperative for AP governments to prioritize and craft robust regulatory frameworks to address various obstacles, that could inhibit the economic possibilities they envision,” says Ravikant Sharma, Senior Research Manager, Government Insights, IDC Asia/Pacific.

Covered By: NCN MAGAZINE / IDC

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