Many countries are moving ahead with GenAI

Artificial Intelligence is taking the world by storm. AI’s ability to produce text, images, audio, and video has become massively widespread. Research by Goldman Sachs suggests that new technology has the potential to drive a 7% increase in global GDP by 2033.

The advancements in artificial intelligence technologies, often referred to as GenAI, is indeed progressing rapidly around the world. Countries are increasingly recognizing the potential benefits of AI across various sectors, including healthcare, transportation, finance, and defense.

With millions of people worldwide now embracing tools like ChatGPT and Midjourney to bring their ideas to life, billions of dollars are being invested to take AI technology to the next level.

According to a report, the highest search volume for generative AI tools was seen in the Philippines (5,288) followed by Singapore (3,036) and Canada (2,213). When seen Application wise:

· Image Generation: Israel and Singapore seem particularly interested in tools like Midjourney that create images using AI

· Audio Generation: South American nations like Uruguay, Chile, Argentina, and Peru show interest in AI-powered voice mimicry

· Video Generation: Singapore and UAE are forerunners in using tools like InVideo and Synthesia for video generation.

A glimpse of how some countries are moving ahead with GenAI:

United States: The U.S. remains a leader in AI research and development, with significant investments from both the government and private sector.

China: China has made AI a strategic priority, aiming to become the global leader in AI innovation by 2030.

European Union: The EU has outlined its vision for AI in the European Commission's White Paper on Artificial Intelligence.

Canada: Canada is known for its expertise in AI research, particularly in deep learning and machine learning.

United Kingdom: The UK government has recognized the strategic importance of AI and has launched initiatives such as the AI Sector Deal and the AI Council to support AI innovation and adoption.

Countries, including Japan, South Korea, India, and Israel, are also investing in AI research and development and implementing national strategies to promote AI innovation and adoption.

As the world of generative AI blurs the line between what’s real and what’s not, and what’s fake and what’s true, an intriguing path unfolds. The global landscape of GenAI is dynamic and rapidly evolving, with countries recognizing the transformative potential of AI and taking steps to harness its benefits while addressing associated challenges such as ethics, privacy, and workforce implications.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA