Global Market Research: China leads world in GenAI

THE BAJA POST
NEWSROOM
SOURCE: PR NEWSMEDIA

Generative AI is here to stay. Organizations around the world are enthusiastically using and investing in the technology. But what regions and countries are leading in the use of GenAI? China is in the lead according to a recent global study SAS commissioned with CWhat does this mean in terms of the global economic impact of AI and GenAI? In a 2023 report, McKinsey estimated GenAI could add the equivalent of $2.6 trillion to $4.4 trillion annually across a variety of use cases. That’s comparable to the entire GDP of the United Kingdom in 2021. This impact would increase the overall influence of artificial intelligence by 15% to 40%.

Considering these economic implications, SAS and Coleman Parkes targeted 1,600 decision makers across key global markets. Respondents work in a range of industries including banking, insurance, the public sector, life sciences, health care, telecommunications, manufacturing, retail, energy and utilities, and professional services. The smallest organizations surveyed employed a workforce of 500 – 999 people, and the largest employed more than 10,000.oleman Parkes Research Ltd. China business decision makers report that 83% of their organizations are using the technology. That’s more than in the United Kingdom (70%), the United States (65%) and Australia (63%). But organizations in the United States are ahead in terms of maturity and having fully implemented GenAI technologies at 24% compared to China’s 19%, and the United Kingdom’s 11%.

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«While China may lead in GenAI adoption rates, higher adoption doesn’t necessarily equate to effective implementation or better returns,» said Stephen Saw, Managing Director at Coleman Parkes. «In fact, the US nudges ahead in the race with 24% of organizations having fully implemented GenAI compared to 19% in China.»

Global regions charge ahead with GenAI
Highlights from the global survey results include indicators that signal different regions are on board and starting to adopt GenAI in meaningful ways but at different rates.

«With any new technology, organizations must navigate a discovery phase, separating hype from reality, to understand the complexity of real-world implementations in the enterprise. We have reached this moment with generative AI,» said Bryan Harris, Executive Vice President and CTO at SAS. «As we exit the hype cycle, it is now about purposefully implementing and delivering repeatable and trusted business results from GenAI.»

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Where do regions rank in fully using and implementing generative AI into their organization’s processes?

North America: 20%
APAC: 10%
LATAM: 8%
Northern Europe: 7%
South West and Eastern Europe: 7%

Which regions have implemented GenAI use policies?

APAC: 71%
North America: 63%
South West and Eastern Europe: 60%
Northern Europe: 58%
LATAM: 52%

To what extent do those planning to invest in GenAI in the next financial year have a dedicated budget?

APAC: 94%
Northern Europe: 91%
South West and Eastern Europe: 91%
North America: 89%
LATAM: 84%

Note: North America comprise the United States and Canada; LATAM includes Brazil and Mexico; Northern Europe includes United Kingdom/Ireland, Sweden, Norway, Finland, Denmark; South West and Eastern Europe is France, Germany, Italy, Benelux, Spain and Poland; and APAC encompasses Australia, China, Japan and the United Arab Emirates/Saudi Arabia.