GenAI is revolutionizing the way businesses operate by automating complex tasks, providing data-driven insights, and enhancing human capabilities. By streamlining processes, GenAI is helping organizations achieve cost savings and improve customer retention rates.
According to a recent study, 82% of organizations utilizing GenAI have already seen positive results.
Why China and UK?
China and the UK are at the forefront of GenAI technology, with both countries leading in terms of state-level support and innovation.
China, in particular, has dominated the global race in GenAI intelligence patents, filing over 38,000 patents from 2014 to 2023. This has led to 83% of Chinese organizations adopting GenAI technology.
The Chinese government recognizes the importance of GenAI in shaping the future and has implemented regulations to govern its use, ensuring adherence to “core socialist values” and national security.
This proactive regulatory approach has instilled confidence in organizations to fully embrace GenAI without fear of future restrictions.
In the Asia-Pacific region, 70% of business leaders feel prepared to comply with upcoming GenAI regulations, compared to 59% in North America and 52% in Northern Europe.
Similarly, the UK has taken steps to establish itself as an AI superpower. Former Prime Minister Rishi Sunak championed this cause and organized the AI Safety Summit in 2023, the first global summit focused on AI safety.
