EDITOR ’ S QUESTION
Deepak Ramanathan , Vice President , Global Technology
Practice , SAS
1
. How do you foresee GenAI impacting the economic landscape of your industry within APAC region ?
The integration of GenAI among organisations in APAC is poised to radically boost the economic landscape by enhancing productivity , driving substantial growth and fostering innovation across various industries . Businesses that adopt GenAI gain a competitive edge in markets .
According to IDC , GenAI spending is forecast to reach $ 26 billion by 2027 , with a 30 % higher adoption rate in developing economies compared to developed ones . Integrating GenAI into governance , risk and compliance ( GRC ) systems is crucial , as failing to do so could lead to missed opportunities in automating tasks like policy creation and handling controls , potentially putting organisations at risk of noncompliance with evolving regulations . That being said , it is also important for organisations to proceed cautiously , adhering to privacy protocols .
2 . With 94 % of APAC organisations planning to invest in GenAI next year , but only 10 % of organisations are fully using and implementing GenAI in APAC – how do you propose organisations should allocate their budget for GenAI initiatives ? the benefits of GenAI can be in the areas of content production ( 30 %) in outdoor and indoor marketing campaigns , software development ( 10 – 20 %), intelligent AI assistants , and consumer interaction . Businesses should customize their approach to best match their strategic goals by developing their own GenAI models or using third-party GenAI solutions – depending on their resources and time restrictions .
The use of GenAI doesn ’ t come without its challenges . GenAI models can inherit bias , which if left unchecked , could lead to unfair discriminatory outcomes .
Furthermore , the decision-making processes of GenAI models can be opaque . This lack of explainability and transparency can be problematic , especially when dealing with sensitive data .
3 . The survey indicates a lack of understanding of GenAI among leaders and data privacy and security are major concerns for organisations adopting GenAI – what measures can organisations take to address these issues ?
Before we can discuss AI ethics , we need to talk about data ethics as AI decisions are made based on the data available . It is important to figure out how these large language models are trained .
To harness the full capabilities of GenAI , data infrastructure is crucial . A comprehensive strategy for GenAI includes customized business applications that provide value for customers while adhering to the principle of maintaining a balance between development and the welfare of society . For instance ,
Fair and responsible use of AI is a big focus at SAS as GenAI impacts everyone from vendors to regulators and customers . In order to promote fairness and transparency , businesses need to establish methods that are clear and explain how the models work and any biases they may have .
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