About 85% of Chinese business leaders plan to increase investments in generative artificial intelligence (AI) in 2024, as AI and other disruptive technologies evolve to be more human-centric and incentivize people to increase their potential and reinvent commerce. Global consultancy Accenture said in a new survey that 73% of Chinese company executives are prioritizing investments in digital core capacities, including cloud, AI, platforms and security. Generative AI refers to computer algorithms trained with huge amounts of data capable of generating content such as images, text, audio and video. It is the key technology underpinning U.S.-based OpenAI’s ChatGPT. The findings stated that 93% of surveyed executives in China agree that the way they interact with data will change, from searching for information to asking questions and receiving direct advice and responses. However, just 13% of business leaders in China are “extremely confident” that they have the right data strategy and core digital capabilities in place to effectively leverage generative AI to their maximum benefit.
To enhance employee productivity and drive growth, 70% of organizations in China are incorporating cutting-edge tools like generative AI, but less than a third of these businesses are actively re-skilling their employees to harness such technologies, it added. This indicates that while surveyed business leaders recognize the importance of generative AI on a personal level, there is a noticeable lag in commitment to workforce training. The research surveyed 2,800 company executives, with 225 from China, between February and March 2024. Accenture also found that the world is in the midst of a massive technology shift, as AI and other disruptive technologies become “human by design” – much more humanlike and intuitive – and usher in a new era of unprecedented productivity and creativity. It noted that as much as 40% of all working hours will be supported or augmented by language-based AI, and generative AI has the potential to enable productivity enhancements across 900 different types of jobs. Yu Yi, Technology Lead at Accenture Greater China, said the important seismic shift in the way people work, live and learn will accelerate a wave of unprecedented change across industries, from retail and entertainment to medicine and manufacturing.
“Human-centered technologies like generative AI are poised to unleash human potential and deliver a staggering array of business and societal benefits, but only if we take a balanced, ‘human by design’ approach that ensures these technologies are used fairly and responsibly,” Yu said. About 93% of executives in China agree that with rapid technological advancements, it is more important than ever for organizations to innovate with purpose, according to Accenture. Joyce Yi, Managing Director and operations delivery lead of Accenture Greater China, said Chinese enterprises are more willing to spend money on sales and product development in the process of AI applications, while their investments in enterprise operations are relatively less, the China Daily reports.
Separately, the Ministry of Education approved the establishment of Shenzhen University of Advanced Technology (SUAT). It said it will enroll its first undergraduate students this year, initially admitting them under the general category of computer science and technology. After the first year, students will be able to choose their specific majors based on their interests, the university said, including computer science and technology, materials science and engineering, neuroscience, biotechnology, pharmacy and biomedical engineering. “SUAT plans to become a top university in science and technology in China within 10 years and a world-class university in science and engineering within 20 years,” said Fan Jianping, Director of the University’s preparatory office.
