As the Asia Pacific region sees strong adoption of generative AI (GenAI), India is poised to join the fastest growing markets in the coming years.
According to the IDC report, the Asia Pacific region has seen an unprecedented increase in the adoption of GenAI, which further includes software, hardware and services for AI-centric systems.
Additionally, the region will most likely see GenAI spending rise to $26 billion by 2027, with a compound annual growth rate (CAGR) of 95.4% for the period.
The report further states that this push will highlight the region’s central role in driving the next wave of innovation and technological advancement in AI.
Deepika Giri, research manager, Big Data and AI at IDC APJ, said investment in GenAI will peak over the next two years, followed by a stabilization period.
“China is expected to maintain its position as the dominant market for GenAI, while Japan and India are expected to become the fastest growing markets in the coming years,” Giri said.
From software development to customer service, GenAI is revolutionizing industries, ushering in a new era of innovation in the region.
The financial services sector is seeing rapid growth in GenAI adoption in Asia – expected to reach $4.3 billion by 2027, with a CAGR of 96.7 percent, according to the report.
Recently, Meta said that it is testing its AI chatbot, Meta AI in WhatsApp India. The chatbot is available on other Meta platforms, including Instagram and Facebook, in the country. THE Meta AI icon is available in the main WhatsApp chat list in India. The AI-based generative chatbot works on the large Meta AI (Llama) language model. It allows WhatsApp users to have conversations about anything.
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IANS Inputs
