Enterprise AI Trends that Benefited from Generative AI

AI is expected to have a significant impact on the economic landscape of Southeast Asia

Apac CIOOutlook | Monday, May 08, 2023

Generative AI transformed enterprise AI, with content generation, personalisation, fraud detection, healthcare, and gaming. Innovative use cases will continue to emerge as the technology evolves.

FREMONT, CA: AI is expected to have a significant impact on the economic landscape of Southeast Asia, with the potential to contribute up to a projected one trillion USD increase in the region's economic growth by 2030. Enterprises have taken notice of recent AI advancements which offer practical applications such as generating research documents and marketing content, as well as automating sales processes. With the rapid expansion of AI's capabilities, it is important to take note of the significant trends in AI when considering its implementation in business.

Trends Benefited from Generative AI

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The Democratisation of AI Technology Will Deliver Value Across the Value Chain

AI advancements such as ChatGPT are democratising AI, making it accessible to more than just data scientists. The availability of low-code and no-code platforms is expected to revolutionise digital transformation journeys by expanding automation use cases throughout the value chain. One of these use cases is dynamic pricing on various factors such as cost fluctuations, market trends, and internal price history. These AI use cases are expected to become prevalent in multiple industries and business functions, including product management, marketing, customer care, and procurement.

There Will be a Significant Uplift in Automation use Cases in Operations

As AI becomes more accessible and its benefits are increasingly recognised, we can anticipate more extensive use of AI and automation, particularly in the back end of operations. The manufacturing industry, for example, is expected to adopt AI at a faster pace, with spending forecast to increase to 16.7 billion USD by 2026. Automation solutions will also provide significant upgrades to legacy operations, planning, and optimisation systems in the coming years, enabling better network planning and optimisation.

Expect an Increasing Focus on Hyper-Automation

Over the past few years, companies in the Asia-Pacific region have been integrating various technologies such as AI, RPA, and ML to automate simple and complex business processes. By using a targeted mix of technologies, such as API management, integration, RPA, and process mining, hyper-automation platforms focus on composability. As a generative in countries to advance, hyper-automation is expected to expand to additional industries such as banking and finance, healthcare, and retail, covering workflow solutions in areas such as sales, customer service, and human resources.

IT Processes Will be Increasingly Automated

Providers of workflow automation and enterprise scheduling services enable businesses to automate IT tasks using triggers and actions, freeing IT teams from manual tasks. These tasks may include onboarding new hires with required applications, performance assessment of applications, and incident management. For instance, these systems automate incident management by linking information from multiple systems and escalating tickets through collaborative tools for assignment and triage. This leads to proactive problem detection, automatic initiation of incident processes, reduction of administrative burden, and better IT-business team collaboration, improving efficiency and productivity, and reducing operating costs.

Risks Associated with AI Adoption May Hold Back Use Cases

Businesses are hesitant to work with AI service providers due to concerns over data security and governance, with cyberattacks being a prime concern. The current global political and macroeconomic climate, coupled with the fact that AI solutions may take months to demonstrate financial results, also puts pressure on tech start-ups to gain commercial traction and secure investments. The risk of failure is high for those who cannot do so.

Generative AI has had a significant impact on the field of enterprise AI, opening up new possibilities for organisations across industries. Generative AI has opened up a world of new possibilities for enterprise AI, transforming how organisations operate across industries. As the technology continues to evolve, we can expect to see even more innovative use cases emerge.

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