MIT Technology Review 10 5. Aware, but unprepared? Only a small percentage of companies are currently investing in AI development in Asia ecision makers at Asian-based firms are firmly Asian governments feel they need to take to mitigate convinced of the benefits AI and automation with technology progression,” he says. Dtechnology will bring to their own prospects In China, the hope is to use automation to bolster and the region’s economy as a whole, but most labor productivity as the country’s workforce ages have not yet committed resources to capitalize on and shrinks. Over the longer term, China hopes to these beliefs. A small percentage of respondents build a domestic manufacturing capability in industrial indicate that they have invested in AI in Asia, and robots and, by extension, in process automation and nearly 20% say they have robotics and automation artificial intelligence. Singapore, by contrast “is into a commitments in the region. Larger percentages little bit of everything—fintech, autonomous driving, indicate that they have AI or robotics investments automated customer support,” says Tak. Autonomous at a global level, and fully half indicate that they are driving is considered one of the most likely AI-enabled considering AI investments. applications, observes Professor Zhang of the While multinational firms may not be committing Singapore University of Technology and Design, but resources to AI development in Asia yet, domestic largely as an anchor for establishing a broad-based industries across the region are most certainly doing AI innovation platform. “Singapore is aligning its policy so, driven by a traditional response of policy makers objectives across multiple sectors—urban mobility, in the region, according to Zeroth.AI’s Tak Lo: “The financial data science, health care—in an effort to external shocks that can happen create risk that elicit the synergies across them and speed up AI development overall,” he says. Asia as a regional economy is poised not only to Figure 5: AI investment plans benefit greatly from advancements in AI and robotics (% of respondents) technologies, but to also define them—and perhaps to lead their future development. AI’s rise will create a seismic shift in the processes that senior managers 20 use to manage talent, growth, and productivity across 13 25 nearly every industry sector. Asian businesses stand to leverage AI’s rise faster, thanks to the virtuous 43 AI (analytics, Automation/ cycle created by Asia’s technology investments and machine Robotics learning or other the organic growth of big data. 50 AI capabilities) 13 18 18 AI’s rise will create a seismic shift in the processes that senior We have invested globally We are considering investment managers use to manage talent, We have invested in Asia We have no plans to invest growth and productivity, across Source: MIT Technology Review nearly every industry sector © MIT Technology Review, 2016. All Rights Reserved.