As organisations grapple with the current fervour surrounding Artificial Intelligence (AI), specifically generative AI (GenAI), it is crucial they refocus on leveraging this technology to create tangible value, rather than simply riding the hype wave.
As the healthcare industry reaches a plateau of heightened anticipation, it is poised to confront the inevitable reality of unmet expectations, with Synapxe’s CEO, Ngiam Siew Ying, at the forefront of this phenomenon. Amidst the fervor surrounding advances in artificial intelligence, she noted that numerous claims about AI’s potential often lack specificity, thereby fostering an unsustainable sense of excitement and anticipation.
Can we quantify the value of AI? asked Ngiam during a panel discussion this week at the.
Companies have tremendous potential if they can effectively integrate AI.
The application of AI in software program engineering, for instance, can yield numerous benefits for organizations, including the potential to streamline development processes, enhance code quality, and accelerate time-to-market. The analysis confirms that the adoption of generative AI is still in its infancy, with a staggering 90% of organisations yet to fully scale their applications.
The Capgemini survey polled 1,098 senior executives and 1,092 software professionals across 13 global markets, including Australia, Singapore, Germany, India, the United States, and the United Kingdom.
According to the report, nearly one-quarter (27%) of surveyed organisations have implemented generative AI pilot projects, with a smaller proportion (11%) leveraging the expertise of their software development operations. Approximately 75% of massive corporations, boasting annual revenues exceeding $20 billion, have leveraged this expertise, a stark contrast to the 23% of organizations earning between $1 billion and $5 billion annually that have adopted it.
According to the Capgemini report, generative AI technology adoption is poised for significant growth over the next two years, with a predicted surge to 85% of software professionals leveraging these tools by 2026, an increase from the current rate of 46%. By 2026, generative AI is poised to significantly augment the capabilities of professionals, providing them with enhanced expertise, tools, and governance, thereby supporting at least a quarter (25%) of software development, design, and testing tasks.
According to a recent study, 80% of software professionals believe that generative AI tools, capable of automating routine tasks, will free up their time to focus on responsibilities that generate greater value. Seventy-five percent of executives believe that generative AI holds significant potential to foster more effective collaboration between technical and non-technical teams within their organizations.
Among professionals who have already adopted the knowledge, 61 percent report that it has facilitated innovation, thereby enabling the creation of new opportunities and businesses; conversely, 49 percent attribute improvements in software quality. Achieve an additional 40% boost in productivity with this innovative approach.
The quest for superhuman intelligence necessitates the construction of a robust infrastructure capable of harnessing the vast computational powers required to train and deploy AI systems.
Without fully embracing and integrating the transformative capabilities of artificial intelligence, organizations will struggle to maximise the benefits of technological advancements, as warned by NCS CEO Ng Kuo Pin, highlighting the importance of cultivating digital resilience to seize the “transformational potential” of AI.
Accordingly, Ng stated: “For a safer and more sustainable tomorrow, corporations must commit significant resources to building foundational capabilities in data, computing power, and knowledge that will empower the widespread adoption of AI.” Organizations that successfully navigate the intersection of artificial intelligence and digital resilience will likely flourish in an increasingly complex global environment.
“Artificial intelligence could be a revolutionary force, and companies would do well to study this rapidly evolving field – the sooner, the better,” he emphasized, highlighting the value of his team’s expertise in leveraging data to help clients navigate emerging technologies. The tech vendor is a wholly-owned subsidiary of Singtel, the Singaporean telecommunications company.
NCS recently debuted a slate of new companies, including its AI-Digital Resilience Matrix – an innovative tool that empowers enterprise clients to create a strategic roadmap for deploying AI and building digital resilience. The framework provides a structured approach tailored to the customer’s maturity levels of AI adoption and digital resilience, empowering the organization to assess its AI preparedness and outline necessary next steps?
The National Centers for Sustainability (NCS) has established a groundbreaking collaboration with Amazon Web Services (AWS), inaugurating the GenAI Heart of Excellence for Public Good within AWS’ renowned GenAI Innovation Hub. Designed specifically for the Asia-Pacific region’s public sector, the new facility leverages AWS’ team of engineers and usage scientists to propel the adoption of AI solutions in this sphere through collaboration with AWS’ platforms.
“As Singapore’s Deputy Prime Minister Heng Swee Keat underscored during his address at the event, AI has revolutionized creative expression with its impressive capabilities in natural language processing, image recognition, and predictive analytics.” “Governments, corporations, and social organizations are exploring the potential of digital technologies and artificial intelligence to achieve their objectives more effectively.”
Singapore is leveraging AI to boost the performance of its public entities, while also streamlining traffic management techniques to alleviate congestion, and deploying AI-powered chatbots for 24/7 access to government services.
Researchers anticipate that advancements in cutting-edge sciences, combined with emerging technologies, will grant the capacity to tackle complex problems and transform industries such as medicine and pharmaceuticals. “Yet, to effectively leverage knowledge for humanity’s betterment, it is crucial to balance competing priorities while optimizing benefits.”
Heng warned that digital threats like scams and cyberattacks posed a significant risk to knowledge, potentially proving costly and eroding expertise, as well as highlighting concerns surrounding data breaches and intellectual property theft.
Despite the touted potential of AI methodologies, they appear to fall short of expectations. without proper coaching knowledge, such systems may produce biased or inaccurate outcomes. “Dangerous actors will exploit vulnerabilities in AI algorithms to manipulate and govern outcomes.”
He emphasized the importance of fostering environments where innovation can thrive safely, responsibly, and for the greater good.
