Depositphotos/AllaSerebrina(for illustration purposes only)
Photo: Depositphotos/AllaSerebrina(for illustration purposes only)
Only few Singapore business have adopted Generative AI: Report
SINGAPORE: Only few (13%) Singapore businesses have adopted Generative AI in some or most of their operations, according to a recent report by the Capgemini Research Institute.
Despite the low adoption rate, there is a growing recognition of its potential, with 61% of surveyed executives considering Generative AI a transformative technology that can drive revenue and innovation.
The survey included 1,100 executives from businesses with annual revenues over US$1 billion(S$1.34 billion) across 14 countries, including Singapore.
Singapore Business Review reported that although the outlook for Generative AI is promising, only 9% of businesses allow all their employees to use it. Half of the surveyed businesses have set specific limitations, while 41% allow access only to select skilled employees.
Environmental impact monitoring of Generative AI adoption is also lacking in the city-state. Only 23% of businesses measure carbon emissions, 30% track water consumption, and just 23% assess energy use related to AI operations.
Despite these challenges, there is a strong commitment to responsible AI usage. About 66% of the surveyed businesses are developing guidelines for the responsible use of Generative AI, which is higher than the global average of 54%.
In addition, about 74% of respondents believe their business strategy can fundamentally change with the adoption of this technology. This is a substantial increase from just 29% in 2023 and is the highest globally.
Around 73% of businesses agree that higher levels of automation in workflows can be achieved through AI agents. On the other hand, 66% believe this automation will assist with value-added tasks.
This aligns with the plans of 73% of businesses that intend to use AI agents within the next three years.
73% of businesses are already planning to use AI agents within the next three years. /TISG
Read also: DBS to equip 500 customer service officers with Gen-AI powered virtual assistant to serve over 250K customers monthly
Featured image by Depositphotos
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