Singapore’s business landscape adopts generative AI amid public concerns

A new study by Alteryx sheds light on how more businesses in Singapore are starting to use Generative AI (genAI). However, many people in the public are unsure and worried about it. The study contains insights from 400 IT business leaders in Asia Pacific and 600 members of the public. It shows that there’s a big difference in how these two groups see genAI and what they think it does.

Divergent Views: Business vs. Public

While an overwhelming 80% of businesses praise how genAI can improve their operations, a substantial 43% of the public remains skeptical about its utility, with 38% expressing apprehension about its future implications.

The main discoveries show a similarity in how genAI is being used: 66% of regular people use it to find information, which matches up with 45% of businesses using it for analyzing data. But when it comes to ethical limits, opinions differ. While 78% of the public feel positive about genAI’s ability to create content, they also believe there should be strict rules in place (47%).

Challenges Amid Successes

Despite successes in piloting genAI projects, businesses face big hurdles when it comes to making them bigger. These worries include keeping data safe, making sure everything is secure, and trusting that genAI gives accurate results. What’s concerning is that only 35% of businesses say they have clear rules for using genAI ethically. This highlights the urgent need for strong systems to ensure that genAI is used responsibly.

A major problem is the lack of people with the right skills. About 29% of businesses say they struggle to find talented folks who can help them use genAI. Many also worry that genAI might take away jobs. 73% of businesses think genAI will replace some jobs that people currently do, and only 40% of the general public share this concern.

Navigating Generative AI’s Dual Edge in Cybersecurity

Patrick Coughlin, Senior Vice President of Global Technical Sales at Splunk, highlights how genAI can be a game-changer but also warns about its risks. He says, “We’re in a rush to use AI, but there are both good and bad sides to it.” Coughlin explains how genAI can help make processes better and boost productivity, all while reducing the risk of employees burning out.

Singaporean cybersecurity leaders have mixed opinions about how genAI affects cybersecurity effectiveness. The survey shows that 45% think genAI gives cyber threats an advantage, while 43% believe it helps strengthen cybersecurity defenses. Only 12% expect it to have no effect on the advantages either way.

Mitigating Concerns for Sustainable Growth

Even though businesses are planning to invest more in genAI technologies, the public is still worried. They’re concerned about things like false information being spread and cybersecurity threats. What’s troubling is that half of the businesses admit there have been cases where genAI has spread false information. This includes things like breaking copyright rules and showing biased content.

Trevor Schulze, Alteryx’s CIO, emphasizes the urgent need to rebuild trust and tackle ethical worries, skill shortages, and privacy breaches. He argues for strong systems to manage these issues, highlighting how genAI can drive innovation and improve decision-making abilities when used carefully.

As genAI becomes more common in Singapore’s business world, it’s crucial to address differences in how people see it, understand it, and follow the rules that govern it. This is key to unlocking its power to improve things while also calming people’s worries about it.