Gen AI Infosys Research: Companies in the Asia Pacific region are increasing investment in Generative AI. This has been revealed in a report by Infosys Research. According to a new report by Infosys Knowledge Institute, the research arm of Infosys, spending on Gen AI technology in Australia, New Zealand, China, Japan, India and Singapore is likely to almost triple to $3.4 billion in 2024. However, the Asia Pacific region is currently lagging far behind compared to North America.
Asia Pacific lags behind North America in terms of spending on AI
Companies in the Asia Pacific region are increasing investments in Generative AI (Gen AI). According to a report by Infosys Research, spending on this technology in Australia, New Zealand, China, Japan, India and Singapore is likely to almost triple to $3.4 billion in 2024. It said that while this spending lags behind North America, acceptance, effectiveness and growth in APAC (Asia Pacific Economic Cooperation) is the highest globally.
Zen lags behind North America in spending on AI
Infosys Knowledge Institute (IKI), the research arm of the leading company in the information technology (IT) sector, said that companies in the Asia-Pacific region are rapidly increasing investment in generative AI and are entering a higher stage of maturity. While companies in APAC currently lag their North American counterparts in spending on Gen AI, the research estimates a 140 percent larger increase than any other region. It said this means an estimated $3.4 billion will be invested in Australia, New Zealand, China, Japan, India and Singapore.
Huge investment in Gen AI
Infosys’ Generative AI Radar APAC report includes analysis of interviews with business leaders and AI users and a survey of 1,000 respondents from Australia, New Zealand, China, Japan, India and Singapore. Companies across the spectrum are investing heavily in Gen AI. China is at the forefront of this sector, with investment expected to increase by more than 160 percent to $2.1 billion. The growth of Australia and New Zealand is behind it. (with language input)