“One of the most exciting aspects of working with GenAI is that across the globe, it is happening to everything, everywhere, all at once. What we have experienced in the last 12 months is that the challenges faced by our clients in Indonesia or India are almost immediately relevant to teams in Italy and Ireland. One key lesson is that the rapid adoption of AI will not directly eliminate jobs, but the impact will be felt by businesses that fail to adapt. Their employees, and in particular, talent new to the workforce, will be drawn to rival businesses offering AI applications that can redraw the future of modern work.”
- Chris Lewin, Deloitte Asia Pacific’s AI & Data Capability Leader
“GenAI has revolutionised the approach and future of work. Unlocking newer possibilities can help us do things faster, better and in a more creative way leading to more meaningful experiences for talent. To fully use this transformative technology, it is crucial to address implementation challenges and deepen our understanding of its capabilities. Despite its clear benefits, obstacles such as implementation complexities, risk aversion and knowledge gaps impede widespread adoption. Leaders should use these technologies not only for efficiency gains but also to fundamentally reshape business models and processes. Overcoming implementation hurdles requires proactive engagement and a comprehensive understanding of AI’s capabilities among stakeholders.”
- Anjani Kumar, Partner, Consulting, Deloitte India
GenAI holds enormous potential to reshape our work and innovation landscape. With its promise of improved efficiency, enhanced quality and amplified creativity, businesses and universities stand to unlock unprecedented growth opportunities. Notably, 86 percent of Indian users report faster task completion, 85 percent note improved output quality and 83 percent emphasize enhanced ideation capabilities.
A big bang, short fuse scenario
To further unpack GenAI’s impact on the Asia Pacific region, Deloitte Access Economics mapped 18 industries in terms of the extent of GenAI’s impact—the “bang”—and how soon those industries will be affected—the length of the “fuse.” It is estimated that USD5 trillion of economic activity within industries will face a big bang, short fuse scenario.
Finance, ICT and media, professional services and education are the four industries affected, which account for an average of one-fifth of the economies of each market in Asia Pacific. This share is expected to increase as some markets shift towards service industries such as professional services, finance and ICT that face higher impact. These industries are also where over 40 percent of students who are using GenAI to start their careers, further accelerating the pace of transformation.
Three key actions for businesses to adopt
The rise of GenAI means that business leaders and employees need to think strategically and act proactively to respond to the rapidly changing environment. Based on the analysis of the report’s findings, businesses should take the following high-impact actions:
Click here to access the full report and learn more about its findings.
Methodology
Deloitte Access Economics developed this report in collaboration with the Deloitte AI Institute and Deloitte Insights to understand the use of GenAI by employees and students, current actions taken by individuals, businesses and educational providers, the barriers to GenAI adoption and future expectations across 13 countries in the Asia Pacific region.
This report is based on a survey conducted by Dynata from February to April
2024. Survey respondents were either students or employees at various levels across a range of industries. A total of 2,903 students and 9,042 employees from the 13 countries were surveyed (see Table A.1 for individual country sample breakdown).
About Deloitte
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Media contact
Mou Chakravorty
Deloitte India
Tel: +91 8454042392
Email: chakravortym@deloitte.com