Local firms ramping up investments in AI, Lenovo study says
Enterprises in the Philippines and rest of the Asia Pacific are looking to increase their budget for artificial intelligence (AI) by over three times as they seek to make operations more efficient and protected against hackers, according to a study by global technology company Lenovo.
In a report, Lenovo noted that 56 percent of enterprises in the region were either studying or planning to roll out AI within the next 12 months. This is higher than the global average of 49 percent.
“As the Philippines advances its vision of becoming a key player in the regional AI landscape, Filipino businesses are accelerating their digital transformation with a clear focus on AI solutions that are innovative, responsible, and ROI-driven,” Lenovo Philippines president and general manager Michael Ngan said.
The study noted that enterprises in the region expect 3.6x ROI (return on investment) on average from their AI projects.
The top AI use cases for these organizations are information technology operations, customer service, cybersecurity and software development.
“AI adoption is not just about the short-term gains. Organizations need to invest in the efficiency of the design, deployment and integration of AI solutions to their operations that enable tracking of the impact,” said Debdut Maiti, director of solutions and services group for Asia Pacific at Lenovo.
To scale their AI strategies, some enterprises are opting to work with professional AI service providers who can aid them in data management, talent shortages, and cost efficiency.
“Professional AI services play a key role here and help organizations successfully adopt AI through an outcome-led approach,” Maiti added.
The study had over 900 respondents from 12 Asia Pacific markets, including the Philippines, India, Korea, Japan, Indonesia, Singapore and Thailand.
In a related study last year by technology giant Cisco, only 22 percent of percent of the surveyed Filipino companies were fully able to deploy AI tools. In fact, only about 23 percent of the respondents have employees who know how to handle AI platforms.
Nevertheless, 98 percent of the surveyed local enterprises expressed “increased urgency” to use AI in their operations.
