GenAI To Assist 60% of Asia's Top Companies Boost Worker Retention By CIOTechOutlook Team

GenAI To Assist 60% of Asia's Top Companies Boost Worker Retention

CIOTechOutlook Team | Monday, 15 January 2024, 03:56 IST

According to a new IDC estimate, over 60% of Asia's top corporations will upgrade hardware and software technologies by 2025 in order to promote worker retention through personalized work experiences and enhanced collaboration.

"By 2026, businesses that link GenAI to smart document handling will discover 20% more ways to use it, boosting productivity, scalability, and delivering better customer experiences," the IDC report predicted.

Generative AI can emerge as a game-changer for organisational advancement across intelligent document processing (IDP), generative automation, and knowledge sharing, as per economic times.

By 2024, business teams that use code generation copilots will have achieved a 70% success rate in simplifying jobs using task/workflow automation, replacing low-code and IT-supported development.

According to the paper, by 2025, GenAI solutions will enable senior leaders to double the productive use of unstructured data by identifying hidden insights and knowledge, resulting in a 20% increase in long-term economic advantages.

"The focus on skill development becomes a necessity and a strategic imperative, as GenAI enables personalised development. Simultaneously, the reimagination of workplaces, with digital twins and sustainability stand out as key foci for companies," said Dr Lily Phan, research director, future of work, IDC Asia/Pacific.

By 2027, GenAI adoption will have expedited the redefining or elimination of 40% of present employment roles across businesses. According to the paper, enterprises will use personalized technological skill development to deliver $1 trillion in productivity benefits by 2027, made possible by GenAI and automation everywhere.