Enterprises in Asia have been designated as the high adopters of technology over a period. Among this Artificial Intelligence has been one of the techniques, which companies here are highly engaging into for the purpose of their business growth. The research has provided us with a percentage division of the Apps:
- Enterprise Apps 83%
- Cloud Computing 82%
- Customer Relationship Management (CRM)
These are the three most important strategic investment priorities for all Asian businesses, according to the study, “The Innovation: All Eyes on Asia” released by Salesforce. Additionally, when presented with capabilities of a CRM platform powered by the artificial intelligence, almost 78% say they are likely to adopt it.
“The appetite for all artificial intelligence by Asian companies continuing to grow. The Fourth Industrial Revolution is dependent upon businesses that are there to harness the predictive prowess of AI that is well-placed to address all the challenges in this dynamic region,” said Robert Wickham, the Regional Vice President, of Innovation &Digital Transformation, APAC, Salesforce.
Let us look at some of the key findings of the study
It has been said that over 70% customer retention is the top priority for the next 12 to 24 months and it is also true that more than half (i.e. Almost 53%) are likely to adopt some of the innovation to achieve the desired goal. Asia (nearly 77%) is being viewed as the so-called region to lead the entire innovation globally in the next five years, along with America being the close second (with almost 64%). On the other hand, Japan, Korea, and even China are said to be involved in the league of top three Asian countries, seen to be driving this trajectory.
- Asian companies are likely to invest in the genre of innovation to upgrade customer retention:
It is a fact that in Asia, innovation is majorly seen as the process of building up a new and novel solution to fulfill all the unmet customer needs. Research and study have shown that Asian businesses prioritize the process of innovation, which is said to empower them to retain their customers (70%) and also more than half (53%) are always likely to adopt the innovation that achieves the same goal.
- Culture is said to Multiply Innovation:
The positive impact of the research is quite evident from the 77% people who agree with the fact that innovation has completely transformed their company operations, with almost 80% of this group prioritizing. It has also been measured that innovation within the organization is likely to take place within a period of 12 to 24 months. This particular group of Asian companies has always been more inclined to invest in the process of technology, regardless of all economic outlook.
- Knowledge Gap is said to be the Hindering Factor of Innovation:
Costs, along with the complexity of technology and last but not the least lack of talent are the three most significant hurdles that are holding nearly all Asian companies a setback from adopting the innovation. Research has also shown that one in every three Asian companies believes that the public-private partnerships will entirely drive future innovation.