APAC businesses to nearly triple spends on GenAI in 2024: Infosys Research
GenAI) and projected to nearly triple spends on this technology to USD 3.4 billion in 2024 across Australia, New Zealand, China, Japan, India, and Singapore, according to Infosys Research. While the spending trails North America, APAC's adoption, effectiveness, and growth are among the highest globally, it said.
«Companies across Asia-Pacific are quickly ramping up investments in generative AI and entering a higher stage of maturity,» the IT major's research arm, Infosys Knowledge Institute (IKI), said in the research.
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Offering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitMITMIT Technology Leadership and InnovationVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisit While APAC companies currently lag behind their North American counterparts in GenAI spending, the research forecasts a bigger increase than in any other region, that is 140 per cent.
«This translates to an estimated USD 3.4 billion to be invested across Australia, New Zealand, China, Japan, India, and Singapore,» it said.
Infosys' Generative AI Radar APAC report includes insights from interviews with business leaders and AI practitioners and a survey of 1,000 respondents from Australia, New Zealand, China, Japan, India, and Singapore.
Enterprises across APAC are investing heavily in GenAI. China leads the region, with investment expected to grow by more than 160 per cent to USD 2.1 billion, and Australia and New Zealand growth close behind.
«ANZ (Australia and New Zealand) investment is expected to grow by more than 150 per cent, from USD 60 million to USD 151 million in 2024,» the research findings showed.
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