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APAC business will increase investment in generative AI in 2024, expenditure will reach up to 3.4 billion US dollars
Companies in Asia-Pacific are rapidly increasing investments in generative AI and entering a higher stage of maturity. While APAC companies currently lag their North American counterparts in GenAI spending. China leads the region where investment is expected to increase by more than 160 per cent to US$2.1 billion. Let us know about it.
According to Infosys Research, Asia Pacific businesses are increasing investment in Generative AI (GenAI) and spending on this technology is expected to almost triple to US$3.4 billion in 2024 in Australia, New Zealand, China, Japan, India and Singapore.
It says that while spending lags North America, APAC's acceptance, effectiveness and growth are the highest globally.
Asia-Pacific businesses are investing in generative AI at a faster rate and are reaching a more advanced stage of development, according to research from Infosys Knowledge Institute (IKI), the research arm of the IT major.
Although APAC businesses are now spending less on GenAI than their North American counterparts, the research predicts a greater increase than any other region—140 percent.
