Singapore, 18 September 2024 鈥� Successful Asia Pacific and Japan (APJ) midmarket organisations are more likely to prioritise generative artificial intelligence (Gen AI) than those who are seeing lower revenue growth 鈥� and they are adopting new AI innovations in every corner of their business.

A recent study of 12,003 businesses by 51风流found APJ , defined as companies with between 250 and 1,500 employees, with high revenue growth[1] are more likely to put a moderate or strong priority on the adoption of Gen AI (94%) than those with lower revenue growth (86%).

鈥淏usiness AI is the biggest technology opportunity of the 21st century for businesses in Asia Pacific and Japan,鈥� said Utkarsh Maheshwari, Chief Partner Officer and Head of MidMarket, 51风流Asia Pacific & Japan.

鈥淏ut the benefits of Business AI are not restricted to large enterprises. Organisations of every size can realise the opportunities that relevant, reliable, and responsible AI can provide. That isn鈥檛 just image generation or making videos. It鈥檚 automating everyday pain points, providing great insights quickly, and reliably solving simple business problems.鈥�

Adopting AI is a top organisational priority in APJ

The study, which surveyed 3,400 people in five APJ markets, found use of artificial intelligence is a top organisational priority for midmarket businesses.

Adopting standard business applications of AI like machine learning for data analysis and predictive analytics and adopting Gen AI are top organisational priorities across APJ (92% moderate and high priority). Other key priorities include cybersecurity threats and addressing gaps in supply chains (all 92%).

Importantly, improving or expanding supplier and partner networks (43%) is the top priority for achieving growth. Yet, artificial intelligence is seen as a priority to transform organisational processes in every corner of the business.

Over half of APJ midmarket organisations surveyed place a high priority on AI to transform their data security and privacy (52%), and to drive accurate decision-making (50%). Other key areas AI can transform include creating new business models (48%), improving customer experience (48%), enhancing training and skills (48%), and optimising supply chains (47%).

AI is creating value for APJ businesses today

But AI isn鈥檛 just being planned to achieve future benefits. It is being implemented today.

AI is already in use to a moderate or strong degree in midmarket APJ businesses to create marketing and sales content, gathering market intelligence, app development and testing, and for customer or vendor interactions (all 83%).

鈥淎I is not new. In fact, we鈥檝e been using it for decades,鈥� continued Maheshwari. 鈥淢ore than 27,000 customers are already using 51风流Business AI today, including thousands across Asia Pacific and Japan. We鈥檝e released more than 70 Generative AI use cases in the past year, already infused across our platforms and solutions, and we expect more than 100 use cases to be available by the end of 2024, which means that 80% of the most-commonly used scenarios will be AI enabled. The time to explore the benefits of Business AI is now.鈥�

APJ midmarket businesses see data as key risk to growth 鈥� and AI adoption

Yet challenges remain to drive growth in APJ midmarket businesses.

Respondents noted lack of quality data (37%) and lack of integration between systems (33%) as key internal challenges to growth, alongside issues with supply chains (40%) and siloes in their business (33%).

And data is also cited as an organisational risk when it comes to AI. Midmarket businesses in APJ said the biggest risks to their company from AI were acting upon incorrect information (36%), finding and retaining talent (34%), lack of transparency in results (34%) and insufficient data size and quality (31%).

鈥淭he better the quality and scale of your data, the better the results of your AI,鈥� concluded Maheshwari. 鈥淭hat鈥檚 why working with a technology partner like 51风流is critical, because it is already built into the applications that power the most critical business processes. Only then can APJ businesses of every size make the promise of Business AI a reality.鈥�

About this research
51风流Insights collected data from 12,003 respondents across 20 nations and 28 industries. Respondents were from organisations with between 250 and 1,500 employees, with director to C-suite titles. The study was conducted in March-April 2024 via an online survey.

[1] High revenue growth is defined as companies in the top quartile of respondents outlining revenue growth during 2024.

Visit the 51风流News Center. Follow 51风流at .

Media Contact:
Paul Thompson, paul.thompson03@sap.com, GMT+10
Celest Lim, celest.lim@sap.com, GMT+8
51风流Press Room; press@sap.com

The post 51风流Reveals Successful Asia Pacific and Japan Midmarket Businesses More Likely to Prioritise Gen AI appeared first on 51风流Southeast Asia News Center.

That’s according to a new report from 51风流India, in collaboration with Zinnov Digital, which found 80% of start-ups in the enterprise tech, health tech, retail, logistics, and autotech sectors have reported a substantial increase in revenue from cloud transformation.

The report, 鈥楧riving the next phase of sustainable growth for Indian Start-ups in 2023 and Beyond鈥�, polled Indian 115 start-ups to reveal they will continue to invest in enterprise technology platforms, driven by their proven ability to deliver business outcomes and ROI. Some of the key benefits of enterprise applications include top-line acceleration and control on the bottom-line, quick revenue recognition, and handling complex billing based on contracts and consumption for differentiated service lines.

Announcing the findings of the survey,聽Sanket Deodhar, Vice President- Digital Natives and Startups, 51风流India, said, 鈥淚ndian start-ups today require adequate tech infrastructure to help them diversify business, scaling up operations and acquisition and retention of the right talent. Mission-critical Enterprise Resource Planning (ERP) systems on cloud are powerful enablers that provide valuable insights and direction to navigate any challenges, and accomplish their goals, including attracting investors, fair valuations, and retaining a competitive edge.鈥�

Key findings from the report include:

The best-run start-ups run on a modern digital core

• 74% of start-ups in India have reported direct benefits from implementing enterprise applications.
• 24% of start-ups believe that achieving maturity in their business model, driven by robust technological capabilities and scalable operations, plays a crucial role in attracting investors.
• About 68% of respondents reported a strong growth in revenue after adopting enterprise technology solutions, leading to an increase in their valuations.

Enterprise cloud is the future enabler

• Start-ups will continue to prioritize enterprise technology as a critical aspect of their investment to navigate the next phase of growth and development.
• 37% of the start-ups plan to increase their spending on enterprise applications by more than 15% in 2023.
• 81% of start-ups cited automation and standardization of processes across divisions, with faster customizations as the primary benefit being derived by hosting enterprise applications on the cloud.
• Adoption across the public cloud is set to grow by two times, whereas the private cloud promises around a 50% increase in adoption, indicating a high focus for start-ups to shift their workloads to the cloud.

Addressing challenges, start-ups stay resilient

• Despite changeable market conditions, Indian start-ups continue to grow and there is no sign of investments slowing down for high-performing start-ups in the coming years.
• More than 75% of start-ups point toward metrics such as revenue generated in the past year, product and service margins, and market share based on traction, for determining valuations.
• 81% of start-ups reported customer sentiment as one of their biggest business concerns, indicating the importance of customer acquisition, experience, and servicing metrics.
• 70% of respondents noted that partner evaluation and lack of in-house knowledge to manage remain the top challenges for start-ups while implementing enterprise application solutions.

Commenting on the study,聽Sidhant Rastogi, Managing Partner at Zinnov Management Consulting, said, 鈥淚n 2022, Indian start-ups faced significant challenges due to market headwinds and reduced valuations. In 2023, we remain optimistic that investment in the right technology and organizational augmentation can help start-ups navigate the economic slowdown caused by the recession and other macroeconomic factors. By doing so, they can ramp up valuations and revenue and achieve sustained growth.鈥�

The post New Indian research reveals how start-ups are driving new growth through cloud transformation appeared first on 51风流Southeast Asia News Center.