Accenture: Capital Market And Banking Become The Most Affected Industry By AI

Illustration of work with AI assistance (photo: Pixabay)

JAKARTA - Accenture's latest research says that genreative artificial intelligence (AI) has the potential to generate an additional economic value of US$4.5 trillion or equivalent to Rp73 quadrillion in Asia Pacific.

Conducted in four countries with the largest economies in Asia Pacific, including Australia, China, India and Japan, Accenture said that the potential for an increase in economic value could even double if Gen AI technology was adopted aggressively.

This report shows that the industry most affected by the use of Generative AI is the capital market. Where a generative AI will replace human involvement by nearly 71 percent.

Other industries affected by the use of generative AI are Banking with 64 percent, Insurance with 62 percent and Retail with an impact of 49 percent.

The implementation of generative AI on a large scale can change almost all functions in various industries. The key to gaining AI benefits lies in skills," said Vivek Luthra, Data and AI Lead, Accenture Growth Markets.

In order for businesses to maximize the benefits of generating AI and increase growth, Viviek recommends that business leaders create long-term strategies centered on human aspects such as a generating AI investment with labor training and development.

"Companies also need to invest in transforming their work, work flow, and labor so that companies can reshape and make adjustments so that they can be more competitive in the AI era," he added.