According to new research from Accenture, generative AI could create 4.5 trillion USD in economic value in APAC over the next 15 years, boosting the annual GDP growth by 0.7%.
"Generative AI has fast-tracked the data and AI-led reinvention journey for businesses. Yet, to fully harness its full potential, leaders need to see it as more than just a tool for redesigning processes and driving cost efficiencies. It needs to be viewed as a value creation opportunity for businesses, people, and society," said Leo Framil, CEO of Growth Markets at Accenture.
GenAI impact
A staggering 96% of APAC business leaders acknowledge the significant impact of generative AI, and 91% of APAC workers express their eagerness to acquire new skills to work with generative AI. However, only 4% of business leaders have implemented generative AI training at scale.
Furthermore, 89% of APAC businesses plan to increase their generative AI technology spending this year, but only 35% prioritise investments in their workforce's development.
Leveraging genAI potential
Accenture recommends that business leaders immerse themselves in the technology and rethink workflows to gain a better perspective on maximising Gen AI for better customer service, employee experience, and business objectives.
Organisations must also prioritise continuous talent reinvention and maximise tools and technologies to help facilitate smoother transitions between work and roles. Business leaders can also invest in helping workers acquire relevant skills and strengthen trust by listening to and involving their employees.
