Artificial Intelligence

Asia Will Become the World’s AI Powerhouse

Globally, many countries have already invested heavily in AI development programmes, led by the US and Europe. However, Asia is also emerging as a strong region for its immense potential for AI application.

The AI market in the Asia Pacific was estimated at around US $450 million in 2017 and is expected to grow at CAGR of 46.9% by 2022. Asia’s AI growth will soon overtake the US as the biggest hub of innovation centres due to a strong growth rate.

Tech-savvy Asian economies are propelling AI adoption through extensive government support. The Chinese central government has promised to become the world leader in AI by 2030, and plans to build a domestic industry worth almost US$150 billion. It is one of the most wide-ranging initiatives from any government seen so far and spans a wide range of sectors, including agriculture and manufacturing, public services, law and ethics, and more.

China’s capabilities with AI is also seen to counter US technology giants (Google, Facebook, Microsoft). China’s search engine Baidu is now leading the charge when it comes to AI, with huge investments in startups and attracting talent from its American counterparts. It has a Silicon Valley Lab that competes with legacy giants such as Facebook and Microsoft for the best talent.

Complemented by the private sector, Asian government investments in education and digital economy to produce AI-driven competitive technologies position Asia to become the world’s AI powerhouse.