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How Asian Companies Can Advance AI in the Post-COVID Era

Cognizant Seven Ways Asia Can Accelerate Human-centric and Data-driven Al Despite high hopes, Al projects at APAC and Middle East companies remain stuck in pilot or proof of concept stage. Here are seven prescriptions to help accelerate their pace of Al adoption and move their projects from labs to the business core. In our recent survey of 590 senior executives from eight industries across Asia-Pacific (APAC) and the Middle East shows that companies in the region are approaching Al with cautious optimism. A look at the present state of Al projects reveals that only a minority (22%) have reached the full deploy- ment stage while the majority remain tucked away in labs – proofs of concept (PoCs) and prototypes. 78% POC & Prototype Stage 22% Deployment Stage 図 図 区 </> The reason: numerous business and technology challenges, the most prominent of which is talent and buy-in from senior leaders. APAC and Middle East companies consider Al as vital ... •.. Importance of AI Today In 3 Years GROWTH CATEGORY 82% Below Average 73% 71% Average 79% Above 84% Average 96% 0% 20% 40% 60% 80% 100% Note: Percentage of respondents from each growth category who replied "Extremely Important" or "Very Important" to the question "How important do you think the adoption of Al technologies is to your company's business success today and how important do you think it will be three years from now?" Response base: 590 executives in APAC who reported one or more Al projects Source: Cognizant and they are highly optimistic of Al's benefits ... loon Percentage of respondents who said "Substantial Benefit" or "Significant Benefit" Increased efficiency Boost our innovation capabilities Lower business operating costs Improve customer satisfactionscores Increased revenues Speed up our time-to-market Ability to introduce new products or enter new businesses Ability to compete effectively with new firms entering our business 100% 80% 60% 40% 20% 0% ANZ ASEAN China & HK India Japan Middle East Response base: 590 executives in APAC who reported one or more Al projects Source: Cognizant Al is seen as a product and process.innovation accelerant Expected Impact on Expected Impact on Product Innovation Process Innovation China & HK 93% ANZ 88% ANZ 88% Middle East 88% ASEAN 85% China & HK 86% Japan 85% India 86% India 84% ASEAN 81% Middle East 81% Japan 74% 50% 100% 50% 100% Note: Percentage of respondents who expect "Significant" or “High" level of Al-led impact on product and process innovation in their companies over the next 2 to 3 years Response base: 590 executives in APAC who reported one or more Al projects Source: Cognizant Yet most Al projects still remain in early and experimental stage.. Current status of Al opportunity/project? Initial planning Proof of concept Pilot stage Full implementation ANZ 17% 44% 19% 21% ASEAN 16% 29% 32% 24% China & HK 4% 32% 42% 21% India 12% 39% 20% 28% 17% 43% 28% 12% Japan Middle East 19% 28% 22% 30% 0% 20% 40% 60% 80% 100% Response base: 590 executives in APAC who reported one or more Al projects Source: Cognizant .. stymied primarily by talent shortages and a lack of senior leader buy-in •.. Current status of Al opportunity/project? Retraining employees whose job responsibilities have been changed or eliminated by Al 61% Securing senior management commitment 61% Securing buy-in by businesses 59% Attracting and retaining professionals with appropriate experience and skills 57% Securing talent 57% Access to accurate/timiely data 55% Time required for generating benefits 54% Securing adequate budget 53% Measuring impacts 51% 45% 50% 55% 60% 65% Response base: 590 executives in APAC who reported one or more Al projects Source: Cognizant AI Seven ways to accelerate adoption How organisations approach Al development has a cascading impact on deployment and ultimate success. A strong foundation of human-centric thinking is vital, for creating a data-driven organisation where human creativity thrives around AlI. To do this, we recommend: Formulate a robust strategy that lets business value guide the choice of Al opportunities in line with the organisation's digital transformation strategy. Combine business and behavioural insights to build Al on the foundations of human-centricity. Build a data-driven organisation by putting modern data management techniques and analytics to effective use and encouraging a culture of insights-driven decision-making. 3. 4. Deploy Al tools and algorithms in line with the maturity curve as they target different areas for transformation. Create an Al-centred culture through use of cross-functional teams, retraining and upgrading skills, and encouraging knowledge sharing. 6. Create a strong foundation of ethics, supported by a comprehensive governance framework. TTTT Employ external partnerships as Al levers to bring in necessary technology, talent and expertise to help businesses as they progress in their Al journey. TITT To learn more, read our whitepaper "How companies can move Al from labs to the business core" https://cogniz.at/AlinAPACandMiddleEast © Copyright 2020, Cognizant. All rights reserved. No part of this document may be reproduced, stored in a retrieval system, transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the express written permission from Cognizant. The information contained herein is subject to change without notice. All other trademarks mentioned herein are the property of their respective owners. Codex 5578

How Asian Companies Can Advance AI in the Post-COVID Era

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Although APAC and Middle East companies have been slow to embrace AI, the ongoing pandemic creates new business-technology imperatives. Here are seven ways companies in the region can accelerate their...

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cognizant

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apac

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Business
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