China Tops GenAI Usage, US Leads Full Integration

Generative AI [GenAI] is becoming essential for businesses worldwide. Many organizations are adopting and investing in this technology, with China leading in usage. According to SAS and Coleman Parkes Research, 83% of Chinese businesses use GenAI, compared to 70% in the UK, 65% in the US, and 63% in Australia. However, the US leads in fully implementing GenAI technologies, with 24% of its organizations having done so, surpassing China [19%] and the UK [11%].

A 2023 McKinsey report suggests that GenAI could boost the global economy by $2.6 trillion to $4.4 trillion annually, equating to 15% to 40% of AI’s overall economic impact. In response to these projections, SAS and Coleman Parkes surveyed 1,600 decision-makers across various industries, including banking, insurance, and healthcare. These organizations ranged from those with 500-999 employees to those with over 10,000.

Despite China’s high adoption rates, Stephen Saw, Managing Director at Coleman Parkes, emphasized that the US has a higher percentage of fully implemented GenAI projects. Regions worldwide are adopting GenAI at varying rates, with North America leading in full implementation at 20%, followed by APAC at 10%.

In terms of policy implementation, APAC leads with 71%, and for dedicated budgets for GenAI investments, APAC also tops the list at 94%. Different industries are adopting GenAI at different rates, with banking and insurance leading in full implementation and daily use.

Organizations face challenges in GenAI adoption, such as unclear strategies and insufficient data. Only 9% of leaders are very familiar with their GenAI strategies, and 75% of organizations plan to invest in GenAI next year. Despite challenges like data privacy and regulatory compliance, early adopters report benefits such as improved employee satisfaction, cost savings, and better customer retention.

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