Companies across Asia-Pacific (APAC) are quickly ramping up investments in generative AI (GenAI) and entering a higher stage of maturity, according to a research released by Infosys Knowledge Institute (IKI), the research arm of Infosys.
While enterprises in the APAC region currently lag behind their North American counterparts in GenAI spending, the research forecasts a bigger increase than in any other region – 140% in the next year. This translates to an estimated $3.4 billion to be invested across Australia, New Zealand, China, Japan, India, and Singapore, it reported. The study also found that enterprises across APAC were investing heavily in GenAI led by China, with investments expected to grow more than 160% to $2.1 billion.
Infosys’s Generative AI Radar APAC report comprises insights from 1,000 business leaders and AI practitioners from Australia, New Zealand, China, Japan, India, and Singapore.
