How Asia Commits to Expanding their AI Industry

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ai industry
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Asian nations made headlines in recent years by investing heavily in AI and robotics. Recently, MIT conducted a survey to gauge how those investments are working out.

Asia is undergoing a technological revolution, and the eyes of the world are on them. Big companies and governments alike on the continent are investing heavily in machine learning and automation to solidify the continent as a major producer of everything the world needs, including AI industry.

The #MITTechnologyReview recently surveyed AI industry investments.Click To Tweet

Recently, the MIT Technology Review surveyed more than a dozen industry executives, including financial, retail, and professional service, to see how AI industry and robotics are impacting Asia’s business landscape. The survey drew these directors from companies of all sizes, annual revenues, and locations.

The conclusions of the survey were a mixed bag of hope and fear, and they give projections on the future of AI industry, robotics, and the Asian workforce.

How was the AI Industry Survey Conducted

More than sixty executives were asked to respond to MIT’s 10-question survey. Of those sixty, many worked at multinational companies headquartered outside of Asia, and their annual revenues ranged from $1 billion to $10 billion U.S.

The survey asked how advances in AI and robotics were going to impact everything from the market as whole to the individual labor forces. Most of the questions asked respondents to rate something from one to five, while some only required a yes or no answer.

Executive Opinions

The poll analyzed opinions that give us greater insight into technological development on the Asian continent, and that could be precious to markets worldwide. From China’s plans to revamp the “Made in China” reputation to Japan and Korea’s push to put intelligent machines in all kinds of consumer devices, a new hub of industry 4.0 is forming. This survey is the word from the ground floor.

The opinions gathered from the study show a positive outlook for how companies will improve competitiveness and efficiency with advanced AI and robotics technology. However, there are fears that they will cause unemployment. Furthermore, a lot of investment in AI development is not being made in Asia.

Interestingly enough, the report says that the human resources sector in Asia will face a new challenge. With the introduction of AI into the workforce, HR roles will need to evolve to encompass both human and AI industry management skills.

Final Thoughts

The conclusions of the survey were a mixed bag of hope and fear, and they give projections on the future of AI industry, robotics, and the Asian workforce.

It’s obvious to experts that AI and robotics will impact every Asian industry. On the one hand, nearly half of the world’s articulated robots were purchased in 2015 by Asian companies, and on the other, those same experts think that introducing big data and advanced AI into those manufacturing methods will significantly improve their efficiency.

Ramping up AI industry investment, then, would be a sound move according to the report. It states that “it is clear that business leaders in the region must take more active steps to prepare for AI’s rapid rise.”

“it is clear that business leaders in the region must take more active steps to prepare for AI’s rapid rise.”

While it is overwhelmingly agreed upon that jobs will be lost, there is a bit of hope among those surveyed that AI and robotics will complement and enhance job functions rather than replace them.

If you want to see the details of the survey, you can read it here. It gives a fascinating view of industries that are making a massive push to implement the world’s latest technological marvels, and if it is successful, then this is just the first step of Asia’s tech boom.

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