Although Silicon Valley and other tech hubs may come to mind when thinking of artificial intelligence innovation, the Asia Pacific's (APAC) rise as a leading AI force should not be overlooked.
The AI market is expanding the quickest in APAC. By the end of 2023, APAC's investments in emerging technologies, such as artificial intelligence, are anticipated to make up nearly 40% of its total information and communication technology (ICT) investments, excluding Japan. This puts APAC far ahead of the rest of the world, which is expected to grow at a rate of about 22% over the same period. The use of AI services in end user industries like manufacturing, healthcare, retail, and e-commerce in nations like China, India, Japan, and others may be to blame for this rise.
This is not a coincidence. Multiple-million dollar national AI policies have been declared by nations like China, Japan, South Korea, India, Taiwan, and Singapore in an effort to promote AI preparedness and control AI deployment. In order to promote the adoption of AI, other APAC members, such as Australia, Thailand, and Indonesia, have similarly launched targeted initiatives and programs in key industries.
It is not surprising that Tokopedia and Alibaba, two leading global e-commerce platforms, continue to extensively rely on AI to forecast demand, run their smart warehouses, and ship goods as consumer expectations for e-commerce sites like these climb as a result of the smoothness and responsiveness of market leaders like Amazon. Not to mention their dependence on AI to process data analytics to determine purchasing patterns, market trends, and preferences helps forecast consumer behavior patterns in such a way that each consumer's online experience is specifically created and personalised.
The adoption of cutting-edge technologies in this area has accelerated in recent years. Computing systems' overall capacity has increased along with data processing, storage, and data availability. The merging of complementary technologies has enabled a new generation of more autonomous AI systems, which has raised the demand for automating activities due to continual advancements in hardware and software.