Around 90% of respondents from Singapore expect Generative AI (GenAI) and AI to significantly transform industries in the future, according to the Dell Technologies Innovation Catalyst Research.
The survey on 6,600 IT and business decision makers across 40 countries, 200 of which are from Singapore, revealed that 87% have a solid strategy for driving innovation, 36% are uncertain of industry transformation in the next three to five years and 43% are struggling to keep pace due to data privacy and cybersecurity concerns (44%), lack of right talent (38%), and outdated technology environments (28%).
Ideation to Implementation
Respondents are positive about GenAI’s potential to improve IT security posture (49%), streamline processes through improved customer experience (48%) and provide productivity gains (47%). They are also aware of challenges to overcome: 66% fear GenAI will introduce new security and privacy issues and 77% agreed that their data and IP is too valuable to be placed in a GenAI tool where a third party may have access.
Nearly half (47%) have implemented GenAI. Around 81% agree that the organisation is responsible for any AI malfunction or undesired behavior.
“Singapore stands out as a prime location for AI adoption and development. Its leading role in the global AI landscape, coupled with the government's strong commitment and investment, creates a fertile ground for innovation. Many businesses are taking action to harness the transformative potential of technologies like GenAI and bringing AI to their data to unlock value and drive growth,” shared Andy Sim, vice president and managing director, of Singapore, Dell Technologies.
