Artificial intelligence continues to drive significant investment and transformation across various sectors globally. In Asia-Pacific, engineers are rapidly adopting AI, with three out of four already integrating it into their products, primarily for cost savings and improved performance. Similarly, Asian banks are leveraging Agentic AI to automate complex tasks like credit checks, aiming to boost profits and enhance decision-making amidst rising business complexity.
Major companies are also making substantial AI commitments. Walmart is heavily investing in AI to transform its retail business, aiming to increase online sales to 50% of total revenue within five years, and is partnering with technologies like Google's Gemini and ChatGPT. Apple CEO Tim Cook has hinted at new AI-powered product categories and services, expressing excitement about the opportunities AI presents for the company's future. Google Cloud has already deployed an AI tool to help Team USA freestyle skiers and snowboarders improve their tricks through AI-powered video analysis.
The investment landscape for AI is robust, with Silicon Valley investor Sarah Guo's firm, Conviction, raising $300 million for new AI startups. Beyond direct AI companies,
Key Takeaways
- Walmart is making significant AI investments, aiming to boost online sales to 50% of total revenue, and is partnering with Google's Gemini and ChatGPT.
- Apple CEO Tim Cook indicated that new AI-powered product categories and services are forthcoming.
- Google Cloud developed an AI tool to help Team USA skiers and snowboarders analyze and improve their performance.
- Asian banks are adopting Agentic AI to automate tasks like credit checks and risk management, aiming to increase profits.
- Three out of four engineers in Asia-Pacific are already using AI in their products, driven by desires for cost savings and better performance.
- Forrester warns that many companies are spending on AI without adequate IT readiness, potentially leading to failed projects.
- The Interactive Advertising Bureau (IAB) proposed the AI Accountability for Publishers Act to prevent AI companies from scraping online content without permission.
- AI investor Sarah Guo's firm, Conviction, has raised $300 million to fund new AI startups.
- Companies like Corning, Cisco, and Amphenol are
Agentic AI helps Asian banks boost profits
Asian banks face challenges like rising business complexity and changing interest rates. They are investing more in technology, especially AI, to grow and become stronger. Agentic AI uses smart agents to automate complex tasks like credit checks and risk management. This helps banks make faster decisions and work more consistently. To succeed, banks need good data, strong systems, and clear rules for using AI safely.
Forrester warns AI spending grows faster than IT readiness
Forrester warns that many companies spend too much on AI without having strong IT systems ready. This can lead to failed projects and higher costs. The report, "The CIO's Guide To AI Readiness," says good AI results depend on strong IT, not just new AI tools. Companies need better governance, data quality, and secure systems for AI to work well. CIOs must make sure their organizations are prepared for wider AI use.
APAC engineers quickly adopt AI across many industries
A new Avnet Insights survey shows that engineers in Asia-Pacific are quickly adopting AI. Three out of four engineers already use AI in their products, and another 20% plan to use it soon. They adopt AI mainly for cost savings and better product performance. However, engineers face challenges like a lack of skilled workers and high costs. Many are focusing on edge AI solutions for faster, more private data processing.
IAB proposes federal bill to stop AI content scraping
The Interactive Advertising Bureau, or IAB, has proposed a new federal bill. This bill aims to stop AI companies from using online content without permission from publishers. Called the AI Accountability for Publishers Act, it would let publishers sue AI companies for "unlawful enrichment." IAB CEO David Cohen says AI companies are unfairly using content that publishers paid to create. The IAB plans to work with lawmakers to move this bill forward.
AI investor Sarah Guo discusses future opportunities
Sarah Guo, a top AI investor from Silicon Valley, shared her thoughts on the future of AI. Her firm, Conviction, has raised $300 million for new AI start-ups. She talked about how AI can solve problems for businesses and how we might use email differently in five years. This interview explores where the biggest opportunities in AI lie.
Google AI helps Team USA skiers improve tricks
Google Cloud created a new AI tool to help Team USA freestyle skiers and snowboarders improve their tricks. This platform uses AI-powered video analysis to track an athlete's movements from regular 2D videos, even with winter gear on. Coaches and athletes get quick, data-backed feedback in minutes, often right on the slopes. This technology helps athletes like Maddie Mastro and Alex Hall understand their performance better and prepare for events like the Olympic Winter Games.
Walmart invests heavily in AI for future retail growth
Walmart is making big investments in artificial intelligence to change its retail business. Incoming CEO John Furner will lead this AI transformation, aiming to boost online sales to 50% of total revenue in five years. Walmart plans to use AI to improve efficiency and customer experience, partnering with companies like Google's Gemini and ChatGPT. Daniel Danker, Walmart's AI executive, says this year marks a shift from AI experiments to full transformation.
Apple CEO Tim Cook hints at new AI products
Apple CEO Tim Cook told employees that new product categories and services are coming, all powered by AI. He believes Apple is uniquely positioned to let customers use AI in meaningful ways. While some AI-enabled products might take years, rumors suggest a few could be shown this year and ship next year. Cook expressed excitement about the opportunities AI opens for Apple's future.
Corning and others are hidden AI investment winners
As AI grows, huge data centers are being built, creating hidden investment opportunities beyond major AI companies. Companies like Corning, Cisco, and Amphenol are "glue" companies that provide essential infrastructure. Corning, known for specialty glass and fiber optics, makes the fiber needed for fast data transfer in AI data centers. The company recently partnered with Meta for its US data center buildout. Investors should look at these less visible companies that supply the materials and networking for AI to function.
Sources
- The role of Agentic AI in generating banks’ ROI. Should banks invest in it?
- Forrester warns AI spend outpaces core IT readiness
- Avnet Insights Survey: APAC Engineers Accelerate AI Adoption Across Industries
- IAB Proposes Federal Bill Targeting AI Training Practices.
- Interview: Sarah Guo, AI investor
- How Google Cloud is helping Team USA elevate their tricks with AI
- The Supply Side: Walmart bets big on artificial intelligence - Talk Business & Politics
- Tim Cook teases new product categories and services enabled by AI
- Corning (GLW) Among Hidden Winners To Watch In AI Investing Space
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