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Home Business TE Insights

China Leads World in GenAI Usage while US Leads in Full Implementation

Global Market Research: Leaders note lack of understanding, business strategy, sufficient data and regulation preparedness as concerns; data privacy, security and governance are primary challenges.

by Peter Oluka
July 15, 2024
in TE Insights
1
China and United States GenAI implementation levels
Image Credit: Cdn/Google

Image Credit: Cdn/Google

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Generative AI (GenAI) is here to stay. Organisations 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 organisations are using the technology. That’s more than in the United Kingdom (70%), the United States (65%) and Australia (63%).

But organisations 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 (AI) 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, healthcare, telecommunications, manufacturing, retail, energy and utilities, and professional services.

The smallest organisations surveyed employed a workforce of 500 – 999 people, and the largest employed more than 10,000.

“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 organisations having fully implemented GenAI compared to 19% in China.”

Global regions charge ahead with GenAI

Highlights 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, organisations 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 GenAI,” 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 GenAI into their organisation’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%

Industries and functional divisions embrace GenAI at varying rates

Sabine VanderLinden, CEO and Venture Partner, Alchemy Crew, sees much potential for industries investing in GenAI.

“The future of business is being reshaped by GenAI,” she said. “Indeed, the integration of GenAI into business processes – from dynamic profiling in marketing to precision claims insurance – offers unparalleled opportunities for efficiency, personalisation, 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 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%
  • Healthcare: 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%
  • Healthcare: 17%
  • Energy and utilities: 17%
  • Manufacturing: 16%
  • Public sector: 13%

Which departments inside organisations 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 organisations 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 organisation’s adoption of GenAI. Of respondents whose organisations that have fully implemented GenAI, only 25% say they are extremely familiar with their organisation’s adoption strategy.

Even those decision makers responsible for technology investment decisions aren’t familiar with AI – including those at organisations 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 organisation’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 organisations (75%) say they have set aside budgets to invest in the next financial year.

Other challenges organisations face include:

  • Data: As organisations adopt GenAI, they realise they have insufficient data to fine tune large language models (LLMs). They also realise – once they’re deep into deployment – they lack the appropriate tools to successfully implement AI. Organisations’ IT leaders are mostly concerned about data privacy (76%) and data security (75%).
  • Regulation: Only a tenth of organisations say they are fully prepared to comply with coming AI regulations. One third of organisations 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.

*Find the full research report and an interactive data dashboard. [Featured Image Credit]

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Author

  • Peter Oluka
    Peter Oluka

    Peter Oluka (@peterolukai), editor of Techeconomy, is a multi-award winner practicing Journalist. Peter’s media practice cuts across Media Relations | Marketing| Advertising, other Communications interests. Contact: peter.oluka@techeconomy.ng

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Tags: GenAI
Peter Oluka

Peter Oluka

Peter Oluka (@peterolukai), editor of Techeconomy, is a multi-award winner practicing Journalist. Peter’s media practice cuts across Media Relations | Marketing| Advertising, other Communications interests. Contact: peter.oluka@techeconomy.ng

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