How AI Will Double Innovation Speed in APAC in Two Years

Most business leaders and entrepreneurs today realise that artificial intelligence (AI) is essential for the growth and competitiveness of their organizations. In fact, the AI technology will allow the rate of innovation and employee productivity improvements in Asia Pacific to nearly double (1.9 times, to be precise) by 2021, according to business leaders in the Asia-Pacific (APAC) region. These were some of the findings of a study from Microsoft and IDC Asia/Pacific, "Future Ready Business: Assessing Asia's Growth Potential Through AI", which surveyed over 1,600 business leaders and over 1,580 workers across 15 markets, including Australia, China, Hong Kong, Indonesia, India, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam. Among the industries polled included agriculture, automotive, education, financial services, government, healthcare, manufacturing, retail, services and telco/media. Eight in 10 business leaders from companies with more than 250 staff agreed that AI is instrumental for their organization's competitiveness, the study said.