SMEs and Startups Can Deliver on Asia’s Hunger for AI Applications

Many people in Asia are interacting with artificial intelligence applications on a daily basis. This could involve using a large language model to support a business writing or coding task, interacting with a social media algorithm or using an app to plan out a route with real-time transport data.

The same goes for businesses. The widespread growth of generative AI in 2023 is seeing AI applications becoming intertwined with a variety of business processes and tasks, from providing customer service to writing code or editing images and videos.

This is an opportunity for entrepreneurial small and midsize enterprises in Asia. As the hunger for useful AI applications grows across both business and consumer markets in 2024, SMEs increasingly see that, just like everyone else, their future growth could be supercharged through delivering on AI’s promise.

AI applications are flourishing across different industries in Asia

The use of AI is already widespread in Asia. A survey produced by peak Australian accounting body CPA Australia, for example, found that 55% of regional businesses were using AI tools in August 2023.

This will only grow as multiple industries deploy generative AI. There are already a large number of recognized applications across a variety of global industries, including healthcare, agriculture, transportation, retail, education, energy and security.

Asia is emerging as a leading incubator of AI applications. Singapore-based startup Trax is one innovator that has harnessed computer vision and machine learning to analyse images of store shelves in the retail industry, helping them track inventory and optimise product placement.

Thai startup Perceptra, meanwhile, has successfully launched a diagnostic medical imaging service, Inspectra, which can screen for abnormal conditions in chest X-ray images with precision. This will make a useful assistant to radiologists diagnosing their patients.

Software development is emerging as one of the most powerful use cases for AI. Organisations in the Asia-Pacific region, for example, are expected by some to use low-code or no-code development tools for 30% or more of AI and automation initiatives in the near future.

And these use cases only scratch the surface. From using AI to defend against the growth in cyberattacks in the financial sector to utilising AI to meet demand from a rising number of eSports players and followers in the region, AI applications are flourishing.

The future of AI applications is unmapped and uncapped in the region

According to IDC predictions, AI spending in Asia is projected to reach close to $78 billion by 2027. A Market Data Forecast report predicts the local AI market will grow by a 40% compound annual growth rate until 2028.

The Asian region also boasts vibrant economies, bustling cities and a tech-savvy population. With regions like Southeast Asia emerging as key hubs for innovation and progress, AI application development, with the support of high performance computing, has uncapped potential.

Bitdeer helping Asian businesses develop and deploy AI applications

Bitdeer Technologies Group’s Al Cloud offering is purposely built to help businesses with AI application development and deployment. It combines state-of-the-art AI computing power with a robust AI application development platform to support AI innovation at speed.

A playground for AI application development and deployment

Bitdeer’s platform provides access to open-source generative AI models for customers to train, fine-tune and deploy AI applications. The easy-to-use platform “playground” eliminates the need for expensive hardware or expertise, so businesses can focus on building AI solutions.

Bitdeer’s platform is built on NVIDIA SuperPOD H100 technology. Bringing world-leading H100 chips and fast networking into the hands of businesses in Asia, it offers the fastest AI computing with added NVIDIA support to supercharge AI application success.

Fostering AI application development and community success

AI application success often depends on testing, iteration and drawing on experience. Bitdeer’s AI Cloud offering includes building a community of AI application developers and apps that will allow AI professionals to cultivate a new generation of startups, products and services.

Meanwhile, Bitdeer’s Apps Garden will support businesses in sharing and showcasing apps in development for community feedback. It will even give developers a first look at other cutting-edge apps in development before they hit the market, maximising immersive AI-driven app experiences.

In the future, AI will be part of everything, everywhere

The AI application development market represents a significant, fast-growing opportunity in Asia, as well as globally. In fact, 72% of organisations in the U.S. market said in 2023 they were planning to increase their investment in AI each year for the next three years.

This will suit those businesses that are ready to seize the opportunities created by change to innovate at scale. With AI becoming a part of life wherever technology lives, the AI revolution can in fact be expected to reshape entire businesses and industries.

Businesses, whether they be large enterprises or SMEs or startups, will require access to technology and support to grow. With the right foundations, they can be a part of the future “everywhere and everything” AI world while reaping the rewards for their bottom line.