The various governments in the Asia Pacific region are vouching on Artificial Intelligence and are planning to implement the AI capabilities to benefit from the new wave of digitalization. There is a scope of increased adoption of AI among various functions and areas, and thus a lot of government policies supporting the AI platforms are expected in the future.
The stride is positive for AI in the APAC regions, and the revenue for artificial intelligence can go up to 29.3 billion US dollars by the year 2024.
Survey Reveals AI Revenue to grow substantially up to 29.3 Billion USD
As per the survey by Global Data, which is a leading data and analytics company, the market opportunity forecasts for the AI reveal that the revenue for the artificial intelligence platforms can go up to a substantial rate by 2024. Various countries in the Asia Pac, namely China, India, and Japan, will stake up to two-third of the revenue in 2024, China will emerge as the largest stakeholder in all.
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The survey reveals that India, China, and Japan will be the leading countries in the Asia Pacific to develop and adopt Artificial Intelligence.
Global Data Governments Embrace AI
As per the Senior Technology Analyst Rohit Sharma,
“The Governments continue to embrace AI, intending to empower themselves and their citizens by creating intelligent processes. Some of the potential usage areas where implementation or increased use of AI will have a significant impact include healthcare, education, and law enforcement.”
Singapore Instrumental in AI development
Singapore has been instrumental in developing and enabling the growth of artificial intelligence in the Asia Pacific region. The Singapore government has tied up an agreement with tech giant Microsoft to create smart chatbots that can aid in the human-like customer services. The government has also collaborated with various companies like Intel and Microsoft to launch AI4E. AI4E is a workshop that helps the users understand the implementation and basics of AI prudently.
China leading its AI Research Initiatives
There has been an increased focus on the development and adoption of artificial intelligence in recent years.
The governments have led various initiatives and tailored policies that promote the development of AI. China is creating waves in AI research and fast-developing the research centers to augment its AI capabilities. The country is aiming to allocate an extravagant budget of 950 Million dollars annually to resource its AI projects.