London – April 17, 2024 – Advancements in generative artificial intelligence (GenAI) are flourishing across Asia and Oceania, with the trajectory set to continue propelling forward. Omdia, a premier tech-focused analytics firm, has highlighted in their latest report that the GenAI software revenue in this region is expected to hit an impressive $3.4 billion by the end of 2024. This figure is anticipated to skyrocket past $18 billion by 2028, underscoring the significant market potential.
Leading the GenAI charge are tech giants from China, Japan, and South Korea. These countries are leveraging local AI infrastructure, data, and talent to create models that can understand and interact in multiple languages, are deeply rooted in local culture, and comply with domestic regulations. These leading markets have generated over 300 fundamental models that span a diverse range of applications, from chatbots and virtual assistants to video analytics, gaming, software development, autonomous vehicles, and robotics.
The report states that ambitious providers in the Asia-Pacific region, including Alibaba, Baidu, Huawei, Tencent, SK Telecom, and KT, are establishing end-to-end solutions. They are hard at work developing proprietary AI chips, infrastructures, frameworks, services, and solutions ambitiously aiming to tailor GenAI products and services to regional needs.
In addition, the report mentions that India and Singapore are also making strides in the AI space. Indian firms like Ola, Sarva AI, Tech Mahindra, and CoRover.ai are developing Large Language Models (LLMs) supporting Hindi, English, and regional languages. Singapore has launched SEA-LION, a pre-trained LLM focusing on Southeast Asian languages like Indonesian, Malay, Thai, and Vietnamese, developed collaboratively by AI Singapore, A*STAR, and AWS. This initiative is further supported by Singapore’s collaboration with Google Cloud and Microsoft Azure to provide local enterprises with GenAI training and solution development.
However, the Omdia study notes a significant challenge: most organizations in the region lack the expertise required to compete with leading technology providers and startups in AI talent acquisition. Service providers and solution developers in the Asia-Pacific space are urged to recognize the complexity of creating regional GenAI solutions and to deploy the necessary resources to help clients meet data sovereignty requirements. There is a growing realization among governments and industry players that a focus on localized GenAI and data sovereignty could eventually shift towards a broader emphasis on AI sovereignty.
For a more in-depth insight into these transformative trends, visit Omdia’s website at www.omdia.com.
Advantages of Generative AI Growth in the Asia-Pacific Region
1. Economic Growth: The expansion of the GenAI industry is expected to contribute significantly to the economic development of the Asia-Pacific region, providing a boost to local tech sectors and related industries.
2. Innovation: The emergence of proprietary AI technologies and applications can lead to innovative solutions tailored to local needs, potentially positioning the region as a global leader in AI.
3. Localization: With a focus on developing models that understand local languages and culture, GenAI can offer more personalized and relevant services to the region’s diverse population.
4. Employment Opportunities: As the GenAI industry grows, it is expected to create new jobs, ranging from research and development to sales and maintenance.
Key Challenges and Controversies
1. Talent Acquisition: One of the main challenges mentioned in the report is the lack of expertise in the region, which could impede growth if not addressed.
2. Data Sovereignty: Data sovereignty refers to the control over data, which is especially pertinent when considering the privacy and security concerns that come with handling large datasets.
3. AI Sovereignty: AI sovereignty highlights the importance of having control over AI technology and frameworks. This concept is linked with national security and competitiveness on the global stage.
4. Ethical Concerns: As generative AI continues to evolve, so do ethical considerations regarding bias, manipulation, and the impact on jobs and economy.
Disadvantages of Generative AI Expansion
1. Cybersecurity Risks: With more sophisticated AI systems comes the increased potential for cybersecurity threats, which can have serious implications for individuals, companies, and national security.
2. Competitive Pressures: Organizations in the Asia-Pacific region may feel pressure to keep pace with rapidly advancing AI technologies, requiring significant investment and possible strain on resources.
3. Disruption of Labour Markets: AI could lead to job displacement in certain sectors, necessitating effective strategies for workforce reskilling and job creation.
For more insights on industry trends and analytics, you can refer to the main source of information via Omdia’s website. Other potentially helpful links without specific links to subpages would be leading tech giants in the region which may include Alibaba, Baidu, Huawei, Tencent, SK Telecom, and KT, among others. Additionally, exploring opportunities with local language AI developments may involve institutions like AI Singapore and A*STAR.
As this field continues to mature, the Asia-Pacific region is likely to face both opportunities and challenges associated with generative AI, making it a key area to watch in the coming years.
The source of the article is from the blog tvbzorg.com