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Generative AI, also referred to as GenAI is being adopted by companies and institutes, as it allows users to input a variety of prompts to generate new content, such as text, images, and videos, among others
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India missed the first AI bus. It will take years to catch up with levels already attained in Taiwan, China, Korea and parts of the West. But India’s large pool of software engineers and tech entrepreneurs are an asset few other countries posses
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The report also highlights that Asia Pacific business sectors that are adopting Generative artificial intelligence (GenAI) are also following a similar trend as global top adopters of GenAI
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The report revealed that over half (54 per cent) of surveyed organisations are channeling their cloud investments towards AI-driven initiatives
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Organisations are finding it difficult to demonstrate and realise tangible benefits, with the financial burden of deploying GenAI models ranging from USD 5 million to USD 20 million
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This points to an increase from the USD 900 million reported in the previous quarter
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In 2022, the World Health Organisation’s (Who) World Mental Health Report—Transforming Mental Health for All said that by 2019, almost a billion people were living with mental disorders
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However, a striking 88 per cent believe that AI and GenAI will indeed bring about transformational changes to their jobs
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The company is developing 23 AI industry blueprints to tackle specific industry challenges
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This surge reflects a compound annual growth rate (CAGR) of 33.7 per cent over the period from 2022 to 2027
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