Singapore Tops Generative AI Adoption Worldwide

A new Vodafone Business study shows that 51% of APAC organisations are already using Generative AI, a percentage that outperforms the global one of 45%. The survey carried out by London School of Economics shows that Singapore is leading the way with 59% of the firms using AI. 

The survey comprises 760 companies and 1,760 customers in Singapore, China, India and Australia that shows more and more Asia-Pacific businesses are expanding their technology adoption despite economic downturn. In 2023, 60% of the surveyed organizations in the region had planned to enhance their digital transformation budgets while the current year results show that 70% of the companies have enhanced their budgets. 

But at the same time the interest in the effects of new technologies such as AI remains high even with the increased investment. This research has revealed that 65 percent of the APAC organizations are concerned with the loss of customer trust, especially with regards to personal data. Out of all the businesses surveyed, 57% stated that privacy issues were the main factor for this apprehension. 

Hence, even though the APAC businesses are adopting AI and digital solutions at a rapid pace, they are careful with the threats that come with the technology especially concerning customers’ trust and data security.