Changing the business landscape with AI

ARTIFICIAL intelligence (AI) is a powerful workforce multiplier that is changing the business landscape. From virtual medical assistance to data analytics, AI enhances productivity and frees up time for tasks that require human insight, by augmenting and automating routine activities.

The Covid-19 pandemic has increased the impetus to innovate and digitalise. This is a crucial factor in the proliferation of AI adoption by companies, as they accommodate remote work arrangements and revamp processes. Technology has become a cornerstone in the new normal.

The EDBI-Kearney AI Whitepaper on the state of AI in South-east Asia (SEA) was jointly conducted with Kearney, and has afforded insights into how AI can be the growth engine of the region's future. SEA anticipates tremendous development by 2030, with AI projected to deliver a US$1 trillion uplift to the region's gross domestic product. Within each country, the extent of AI's impact will hinge on their adoption rate of AI applications, and stage of development such as the presence of national AI strategies and digital economy foundations involving the support of the governments, investors and companies.