intelligent

Lee Chin Jian , Vice President at DAI Magister , believes the potential valueadd of the business applications of embedded AI could be up to 2 – 3x that amount , equating to around US $ 500 billion .

Jian said : “ Adapting Generative AI for business use is a complex task that often requires the expertise of enterprise-grade tech companies . These companies possess the skills to integrate AI with existing systems , handle specialised data and provide essential information and analysis .

“ Virtually no major enterprise-grade software company has the necessary AI expertise to reconfigure its product suite . Instead , they resort to acquiring AI start-ups to bolster their capabilities and ensure a smooth integration of AI into their workflows and operations . This trend creates a compelling market opportunity for specialised enterprise AI businesses that offer solutions designed for seamless embedding within existing enterprise systems and across different business functions .

“ The impact of AI goes beyond providing specialised solutions to established industries . It also leads to the emergence of embedded AI , which refers to the seamless integration of AI-augmented services into end-customers ’ everyday operations . This integration of AI into various aspects of daily business operations opens up significant possibilities for further growth . Based on the current value of the SME market , this growth figure could be US $ 500 billion , possibly even more .

“ Embedding AI in legal and compliance operations will be particularly transformative for enterprises . As AI adoption grows , ensuring its reliable operation becomes critical , especially in sectors like financial services where accuracy is paramount . Discussions around monitoring AI will intensify , leading to increased investment and job creation for overseeing and regulating its use .

“ In terms of regulatory compliance , AI keeps businesses up-to-date with changing laws , reducing legal risks and protecting their reputation . Furthermore , AI ’ s predictive capabilities assess historical data , identify potential risks and develop proactive risk mitigation strategies , helping businesses stay ahead in safeguarding against liabilities .

“ AI co-pilots will also become an integral part of enterprises across diverse business functions , transforming how businesses operate and make decisions . For skilled workers , AI will be an invaluable assistant in navigating complex decision-making processes , providing valuable insights to tackle intricate and challenging tasks more effectively . Less-skilled workers will witness the automation of repetitive and mundane tasks , liberating their time and energy to focus on activities that bring greater value .”

Jian concluded : “ Akin to the advent of outsourcing , the Internet and the adoption of computers in the workplace , the transformational potential of AI represents a vast and growing opportunity and a ground-breaking leap into a future brimming with unprecedented possibilities for enterprises .” �