1. There has been a rapid increase in the adoption and development of artificial intelligence across the globe. Business platforms are depending on AI for better growth, efficiency, and digital transformation.
2. Cutting-edge technologies like 5G will escalate the use cases of AI across industries. According to McKinsey Global Survey 2020, 50% of respondents reported that their companies have adopted AI in at least one business function.
3. The global leaders in AI adoption, research, and development include Asian countries like China, Singapore, and Japan.
JAPAN AND CHINA LEADING THE GROWTH
1. The World Intellectual Property Organization report revealed that Japanese and American companies hold the highest AI patent portfolios, and Chinese research organizations make up 17 of the top 20 academic players in AI patenting and 11 of the top 20 in AI-related scientific publications.
2. Japanese vision known as Society 5.0 aims to leverage strategic innovations and technology to enhance human life and work towards a smart society.
3. Supportive policies and investment from public and private sectors aid this AI boom in Asian countries like Japan.
4. China and Japan are among the largest suppliers of industrial robots and they are commercializing the research domains for AI. The huge market of China is susceptible to rapid changes and hence can accommodate new innovations in AI without disturbing the economy.
5. According to a Harvard Business Review report, China has passed a number of policies in recent years to promote the development of AI, including ‘Made in China 2025,’ ‘Action Outline for Promoting the Development of Big Data,’ and ‘Next Generation Artificial Intelligence Development Plan.’
6. Strong government policies can attract more investors into the technology market since they are regulated and protected.
OTHER COUNTRIES
1. Other than these tech giants, southeast Asian countries are also committing to the development and research involving AI.
2. The National Artificial Intelligence Strategy introduced by Singapore as its journey towards becoming a smart nation encourages the use of AI technology to redefine business models and the economy at large.
3. The initiative has already identified national projects and key enablers to promote a sustainable AI ecosystem across the nation.
4. A survey by EDBI and Kearney of the ASEAN countries including Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines found that if applied and executed well, AI could add $1 trillion to the region’s GDP by 2030.
5. Following the path of Singapore, Malaysia and Indonesia are also on their way towards developing a National AI Strategy. These ASEAN countries are stimulating conversations around AI and its impact on their economy.
6. ASEAN countries should invest in AI research and development, new policies, and cybersecurity to escalate the growth of the AI market in the region.
INFLUENCES
1. The growing startup culture in Asian countries has also influenced the growth of AI, especially in countries like China and India. India’s fast-growing economy and population provided more scope for the adoption of AI.
2. India has initiated a National AI Strategy under its NITI Aayog policy to guide the research and development of emerging AI technologies. Large technology conglomerates and startups lead the acceleration of AI in India and the pandemic also played a pivotal role in rapid digital transformation across the country.
3. AI is being actively adopted in the banking, retail, and healthcare sectors to boost the economy. A Forbes article states that India ranks second only to China in the number of Computer Science graduates produced each year.
AI GROWTH STRATEGIES
1. Asia has been home to tech pioneers for decades. Leading tech companies in Japan and South Korea, for example, have some of the highest number of AI patent filings, according to the World Intellectual Property Organization.
2. The success of these and other East Asian conglomerates is also a testament to the quality of their talent and ability to commercialize research.
3. Asians are placing emphasis on scaling applications in industrial and home robotics, self-driving cars and smart city projects such as one large automotive manufacturer’s planned development in the foothills of Mount Fuji.
4. Japan’s large-scale push into IoT sensor deployment across Asia should be understood as part of its AI strategy given the data it will generate.
5. As the first country with widespread 5G deployment, South Korea has an edge in gathering data that will deepen its AI prowess in areas such as smart manufacturing, immersive gaming and autonomous vehicles.
6. Many global companies have set up AI research centers in Bengaluru while one multinational AI company has raised more than $325 million to boost enterprise efficiency with AI.
7. Pakistan was ranked as the region’s fastest-growing country for digital freelancers. The government also recently appointed a Massachusetts Institute of Technology-trained executive to head its Digital Pakistan initiative.
Source:
https://www.analyticsinsight.net/asia-becoming-a-powerhouse-of-artificial-intelligence/
https://www.forbes.com/sites/insights-ibmai/2020/05/21/where-asia-is-taking-the-world-with-ai/?sh=1fa35fb57947
