IDC predicts that in 2024, 50% of APAC cities and states will pilot GenAI to improve efficacy in community outreach and customer service, procurement, staff recruitment and training, and software development.
The latest IDC FutureScape report predicts that AI and automation technologies will remain central to tech investment initiatives.
According to Dr Lily Phan, research director for Intelligent Automation at IDC Asia/Pacific AI is needed to lower operational costs, reduce staffing pressure, revamp end-user experience, and democratise decision-making power. The adaptability and efficiency offered by AI and automation solutions can provide the technologies that can mitigate staff shortage and economic challenges," she added.
With AI hype still high, Asia-Pacific businesses that are dipping their finder into the technology, must ask themselves: how do they move beyond experiments and unlock real business value with AI?
David Irecki, director of solutions consulting for APJ with Boomi, opines that the hype surrounding AI is leaving organisations seeking advice on where to begin. Boomi advocates practical AI – an approach that focuses on low-risk, high-return initiatives. Companies often prioritise everyday AI for 5-20% productivity gains.
“Practical AI aligns with existing digital transformations, addressing issues in data and application integration. Our approach emphasises context—feeding external information into generative AI for more accurate insights. Integrating AI not only accelerates digital transformation goals but also ensures effective action and maintains security protocols.”
David Irecki
Key considerations when approaching AI
Irecki suggests three guiding principles for organisations taking their AI journey. “Firstly, integrating AI into their digital transformation and machine learning foundation is crucial,” he revealed. He says this involves addressing current pain points and automating identified use cases.
He also advocates breaking down these challenges into smaller increments to accelerate value realisation, vital in the rapidly evolving AI landscape. Finally, he suggests promoting a composable production approach across the organisation to ensure adaptability to AI advancements.
“By solving existing issues, segmenting problems into manageable subsets, and adopting a composable structure, businesses can efficiently leverage AI initiatives, regardless of the evolving landscape,” he explained.
Improving the odds
An article in Harvard Business Review claims that as much as 80% of AI projects fail. Some attribute the failure to equate AI to application development. Another suggests it has to do with data quality besides having sufficient data.
Irecki says initiating a thorough assessment of the organisation’s position, risk tolerance, and comprehension of desired systems is crucial. “Therefore, businesses must discern what aligns with their objectives. Establishing a foundation of integration, automation, and breaking down processes into composable building blocks is essential,” he continued.
“Additionally, employing technologies like API management serves to mitigate risks and fortify security throughout the organisation, offering a comprehensive approach to navigating the evolving technological landscape.”
David Irecki
Click on the PodChat player and listen to Irecki elaborate on the details of practical AI.
- What is the problem that organisations will face as they implement AI?
- What do we mean by “practical AI”?
- Can we use this practical approach to generative AI to accelerate current digital transformation initiatives?
- What happens when an organisation is integrating AI into their transformation journey only to realise it’s not as easy as marketing makes it out to be?
- Looking ahead, what key considerations should businesses prioritise to "future-proof" their AI initiatives and remain competitive in the rapidly evolving AI landscape?
- This 2024, what are your expectations around AI including how it is evolving, and the approaches organisations are taking to operationalise the technology into current and evolving business processes?
