Artificial Intelligence
Global Market Research: China leads world in GenAI usage while US leads in full implementation
Leaders note lack of understanding, business strategy, sufficient data and regulation preparedness as concerns; data privacy, security and governance are primary challenges
CARY, N.C., July 9, 2024 /PRNewswire/ — Generative AI is here to stay. Organizations around the world are enthusiastically using and investing in the technology. But what regions and countries are leading in the use of GenAI? China is in the lead according to a recent global study SAS commissioned with Coleman Parkes Research Ltd. China business decision makers report that 83% of their organizations are using the technology. That’s more than in the United Kingdom (70%), the United States (65%) and Australia (63%). But organizations in the United States are ahead in terms of maturity and having fully implemented GenAI technologies at 24% compared to China’s 19%, and the United Kingdom’s 11%.
What does this mean in terms of the global economic impact of AI and GenAI? In a 2023 report, McKinsey estimated GenAI could add the equivalent of $2.6 trillion to $4.4 trillion annually across a variety of use cases. That’s comparable to the entire GDP of the United Kingdom in 2021. This impact would increase the overall influence of artificial intelligence by 15% to 40%.
Considering these economic implications, SAS and Coleman Parkes targeted 1,600 decision makers across key global markets. Respondents work in a range of industries including banking, insurance, the public sector, life sciences, health care, telecommunications, manufacturing, retail, energy and utilities, and professional services. The smallest organizations surveyed employed a workforce of 500 – 999 people, and the largest employed more than 10,000.
Learn more in the full research report and an interactive data dashboard.
“While China may lead in GenAI adoption rates, higher adoption doesn’t necessarily equate to effective implementation or better returns,” said Stephen Saw, Managing Director at Coleman Parkes. “In fact, the US nudges ahead in the race with 24% of organizations having fully implemented GenAI compared to 19% in China.”
Global regions charge ahead with GenAIHighlights from the global survey results include indicators that signal different regions are on board and starting to adopt GenAI in meaningful ways but at different rates.
“With any new technology, organizations must navigate a discovery phase, separating hype from reality, to understand the complexity of real-world implementations in the enterprise. We have reached this moment with generative AI,” said Bryan Harris, Executive Vice President and CTO at SAS. “As we exit the hype cycle, it is now about purposefully implementing and delivering repeatable and trusted business results from GenAI.”
Where do regions rank in fully using and implementing generative AI into their organization’s processes?
North America: 20%APAC: 10%LATAM: 8%Northern Europe: 7%South West and Eastern Europe: 7%Which regions have implemented GenAI use policies?
APAC: 71%North America: 63%South West and Eastern Europe: 60%Northern Europe: 58%LATAM: 52%To what extent do those planning to invest in GenAI in the next financial year have a dedicated budget?
APAC: 94%Northern Europe: 91%South West and Eastern Europe: 91%North America: 89%LATAM: 84%Note: North America comprise the United States and Canada; LATAM includes Brazil and Mexico; Northern Europe includes United Kingdom/Ireland, Sweden, Norway, Finland, Denmark; South West and Eastern Europe is France, Germany, Italy, Benelux, Spain and Poland; and APAC encompasses Australia, China, Japan and the United Arab Emirates/Saudi Arabia.
Industries and functional divisions embrace GenAI at varying ratesSabine VanderLinden, CEO and Venture Partner, Alchemy Crew, sees much potential for industries investing in GenAI. “The future of business is being reshaped by generative AI,” she said. “Indeed, the integration of GenAI into business processes – from dynamic profiling in marketing to precision claims insurance – offers unparalleled opportunities for efficiency, personalization, and strategic foresight. Embracing this technology is essential for staying ahead in a highly uncertain and unpredictable competitive market.”
When split into industry segments, the data shows banking and insurance leading other industries in terms of incorporating GenAI AI into daily business operations across a variety of metrics. Highlights from those findings are below.
How do specific industries rank in terms of fully implementing GenAI and fully implementing it into regular business processes?
Banking: 17%Telco: 15%Insurance: 11%Life sciences: 11%Professional services: 11%Retail: 10%Public sector: 9%Health: 9%Manufacturing: 7%Energy and utilities: 6%Which industries indicate they already use GenAI daily to some extent?
Telco: 29%Retail: 27%Banking: 23%Professional services: 23%Insurance: 22%Life sciences: 19%Health care: 17%Energy and utilities: 17%Manufacturing: 16%Public sector: 13%Which departments inside organizations are using or planning to use GenAI?
Sales: 86%Marketing: 85%IT: 81%Finance: 75%Production: 75%Early adopters are finding plenty of obstacles in using and implementing GenAI No. 1 on the list of challenges organizations face in putting GenAI to routine use is the lack of a clear GenAI strategy.
Only 9% of leaders responding to the survey indicate they are extremely familiar with their organization’s adoption of GenAI. Of respondents whose organizations that have fully implemented GenAI, only 25% say they are extremely familiar with their organization’s GenAI adoption strategy. Even those decision makers responsible for technology investment decisions aren’t familiar with AI – including those at organizations that are ahead of the adoption curve.
Nine out of 10 senior technology decision makers overall admit they don’t fully understand GenAI and its potential to affect business processes. At 45%, CIOs lead the way with executives who understand their organization’s AI adoption strategy. But only 36% of Chief Technology Officers (CTOs) say they’re fully in the know.
Yet despite this understanding gap, most organizations (75%) say they have set aside budgets to invest in GenAI in the next financial year.
Other challenges organizations face include:
• DataAs organizations adopt GenAI, they realize they have insufficient data to fine tune large language models (LLMs). They also realize – once they’re deep into deployment – they lack the appropriate tools to successfully implement AI. Organizations’ IT leaders are mostly concerned about data privacy (76%) and data security (75%).
• RegulationOnly a tenth of organizations say they are fully prepared to comply with coming AI regulations. One third of organizations that have fully implemented believe they can comply with regulations. Only 7% are providing a high level of training on GenAI governance. And only 5% have a reliable system in place to measure bias and privacy risks in LLMs.
Although there are obstacles, some early adopters have experienced meaningful benefits already: 89% report improved employee experience and satisfaction; 82% say they’re saving operational costs; and 82% state customer retention is higher.
Keep up with the latest news from SAS by following @SASsoftwareNews on X/Twitter.
About SASSAS is a global leader in data and AI. With SAS software and industry-specific solutions, organizations transform data into trusted decisions. SAS gives you THE POWER TO KNOW®.
SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2024 SAS Institute Inc. All rights reserved.
Editorial Contact:Laura Fleek [email protected]/news
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ANAHEIM, Calif., Sept. 17, 2024 /PRNewswire/ — Fractal EMS Inc. (“Fractal”), a leading provider of advanced solar and storage controls, has announced a groundbreaking partnership with Gold Electronic Equipment Inc. (“Gold”), a leading high-tech company specializing in R&D, active balancing technology and manufacturing of the battery management system (BMS). A signing ceremony and celebration was held on September 9th at the RE+ clean energy conference in Anaheim, California. The new partnership will provide a cybersecure American BMS to customers worldwide (“Fractal BMS”).
The Fractal BMS provides a 3-level BMS architecture (module, rack and system). The design of the Fractal BMS has been finalized, featuring an American-sourced chip, printed circuit board assembly (PCBA), and cybersecurity, ensuring compliance with U.S. policies for sourcing and critical infrastructure protection. The Fractal BMS has the option to provide active cell balancing to maximize each battery cell’s useful capacity and life.
“Other companies proposing an American BMS have not addressed the cybersecurity concerns of the BMS. Some companies are licensing a foreign BMS or only providing a top-level device, neither of which cure cybersecurity threats and vulnerabilities. We are thrilled to collaborate with Gold to bring this advanced American BMS to the market. This partnership underscores our commitment to innovation, security, and supporting American technology,” said Daniel Crotzer, CEO at Fractal EMS.
Fractal BMS is scheduled for UL testing in late October 2024 and aims to become the gold standard for BESS deployments to mitigate risks associated with Foreign Entities of Concern (FEOC) and known cyber vulnerabilities in programmable devices. The American BMS will be available to battery manufacturers globally, offering a reliable and secure solution for battery management needs.
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Based on Completeness of Vision and Ability to Execute
FRISCO, Texas, Sept. 17, 2024 /PRNewswire/ — Redwood Software, a leading and innovative provider of solutions in Service Orchestration and Automation Platforms (SOAP), today announced that Redwood Software has been positioned by Gartner® as a Leader in the Magic Quadrant for SOAP report. The evaluation was based on specific criteria that analyzed the company’s overall Completeness of Vision and Ability to Execute.
Fully focused on automation to drive business outcomes, Redwood’s portfolio of SOAP solutions includes RunMyJobs, ActiveBatch and Tidal, all of which are integrated with Redwood’s highly secure managed file transfer solution, JSCAPE. Redwood uniquely enables enterprises to orchestrate all applications, processes and data, delivering end-to-end automation fabrics for critical processes such as data pipeline management, order-to-cash, record-to-report and supply chain management.
Redwood believes that customers benefit from:
The only SaaS-based composable automation solution purpose-built for hybrid cloud and designed to scale with lightweight auto-updating agentsAn extensive library of pre-built connectors to avoid custom coding, including SAP integrations at the transaction level that maintain a clean coreAdvanced real-time SLA management and monitoring with predictability and dynamic schedulingBest-in-class, rapid response support teams with 24/7 support, contributing to an industry-leading 48 net promoter score (NPS)”At Redwood, we believe in the transformative power of automation. We believe every IT and business process that can be automated, should be automated and lights-out automation is key to continuous growth, innovation and success,” said Kevin Greene, Redwood Software CEO. “This recognition from Gartner, who we feel is one of the most trusted voices in technology research, we believe demonstrates Redwood’s dedication to delivering industry-leading automation solutions, providing people the time and freedom to imagine and define the future – unleashing their human potential.”
A Gartner Magic Quadrant is a culmination of research in a specific market, giving you a wide-angle view of the relative positions of the market’s competitors. A Magic Quadrant provides a graphical competitive positioning of four types of technology providers, in markets where growth is high and provider differentiation is distinct: Leaders execute well against their current vision and are well positioned for tomorrow. Visionaries understand where the market is going or have a vision for changing market rules, but do not yet execute well. Niche Players focus successfully on a small segment or are unfocused and do not out-innovate or outperform others. Challengers execute well today or may dominate a large segment, but do not demonstrate an understanding of market direction.
View a complimentary copy of the Magic Quadrant report to learn more about why Redwood Software was positioned as a Leader at https://www.redwood.com/resource/gartner-soaps-mq/.
Additional resources
Explore Redwood Software on this blog
Follow Redwood Software on LinkedIn
Visit Redwood at Gartner IT Infrastructure, Operations & Cloud Strategies Conferences in the UK and US
Gartner disclaimer
Gartner, Inc. Magic Quadrant for Service Orchestration and Automation Platforms. Hassan Ennaciri, Chris Saunderson, etl. 11 September 2024.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Redwood Software
Redwood Software is the leader in full stack automation fabric solutions for mission-critical business processes. With the first SaaS-based composable automation platform specifically built for ERP, we believe in the transformative power of automation. Our unparalleled solutions empower you to orchestrate, manage and monitor your workflows across any application, service or server — in the cloud or on premises — with confidence and control. Redwood’s global team of automation experts and customer success engineers provide solutions and world-class support designed to give you the freedom and time to imagine and define your future. Get out of the weeds and see the forest, with Redwood Software. For more information, visit www.redwood.com. Follow Redwood Software on LinkedIn, @Redwood Software.
Media Contact: Liz Reilly, [email protected]
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Artificial Intelligence
2024 IEEE International Conference on Image Processing Explores the Latest Technical Innovations
ICIP 2024 focuses on trustworthy visual data processing and covers cutting-edge topics involving computer vision
PISCATAWAY, N.J., Sept. 17, 2024 /PRNewswire/ — IEEE, the world’s largest technical professional organization dedicated to advancing technology for humanity, and the IEEE Signal Processing Society (SPS) will hold the 2024 IEEE International Conference on Image Processing (ICIP 2024), 27-30 October 2024 at the Abu Dhabi National Exhibition Centre in Abu Dhabi, UAE. ICIP 2024 will be a hub of innovation and learning – examining how AI-based approaches in the field are bringing opportunities, as well as challenges.
The program delves into “Trustworthy Generalization in Visual Machine Learning,” AI/ML learning on visual data, and examines the latest trends in data-driven, learning-based image and video coding standards.
ICIP 2024 will feature insightful tutorials, engaging exhibits and demonstrations, workshops by leading tech companies, career development opportunities, and networking events for practicing engineers, aspiring students, and young entrepreneurs.
“ICIP will provide thought leaders with a platform to reach diverse audiences and encourage a dialogue on topics making a large impact on our industry. We look forward to building connections between top researchers and practitioners in the field,” said Kostas Plataniotis, IEEE Signal Processing Society President.
Plenary speakers include Dr. Touradj Ebrahimi, Convenor of the JPEG Standardization Committee, Dr. Gitta Kutyniok, Bavarian AI Chair for Mathematical Foundations of AI, LMU Munich, and Dr. Mohamad Sawan, Chair Professor, Westlake University; Emeritus Professor, Polytechnique Montreal. View the Technical Program for a summary of conference activities.
ICIP 2024 will bring together corporate, government, and academic researchers, top global leaders in the field and more – register today.
About IEEE Signal Processing Society
Founded as IEEE’s first society in 1948, the Signal Processing Society is the world’s premier association for signal processing engineers and industry professionals.
About IEEE
IEEE is the world’s largest technical professional organization dedicated to advancing technology for the benefit of humanity. Through its highly cited publications, conferences, technology standards, and professional and educational activities, IEEE is the trusted voice on a wide variety of areas ranging from aerospace systems, computers and telecommunications to biomedical engineering, electric power and consumer electronics.
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