There has been a boost in the adoption of AI technology globally. As technology efficiency, intelligence, and prediction capabilities continue to drive investment in AI, clear growth emerges in Asia, where the Artificial Intelligence market is projected to reach US$81.88bn in 2024. Intel® Liftoff for AI Startups is closely monitoring this growth and AI trends in the region and has spoken to two program members, UnSloth and Pixel ML, to gather their insights.
Daniel Han-Chen, co-founder of UnSloth, an Australian startup that finetunes LLMs quicker and with less memory to make AI superfast, efficient, and accessible, shared his perspective on AI trends in East Asia and Oceania.
What, in your opinion, are the AI trends in East Asia & the Pacific region ?
We believe that there is massive traction in AI in the Northern Hemisphere and we are aiming to change this with our technology and other AI startups, so that AI is featured more in the Southern Hemisphere.
What are the barriers to entry/success in the region’s deep tech market?
Australians are generally more conservative than the US, they tend to take fewer risks. When operating in the startup space, it is imperative to take calculated risks to remain competitive and relevant. To further the AI and deep tech markets, startups will need to become more bullish.
What do you expect will be the major driving factors or trends in your industry in 2024?
The release of Mistral and Llama-2 7b in 2023 made AI much more accessible. In 2024, the release of Llama-3 will be pivotal for the contentious rivalry between closed-source AI and open-source AI.
What is a key takeaway you would like to share?
It is always important to keep driving your ideas and products forward. Although you will encounter negativity along the way, if you believe in what you have built, it is possible to reach your end goal. Geographic proximity should not affect your drive; if you think like a global player, you will become one.
Pixel ML, is a Gen AI company based in the US with a core development team situated in Vietnam. The company’s mission is to enable entities of all sizes—from individuals and startups to SMEs and enterprises worldwide—to harness the transformative power of Generative AI for innovative marketing strategies. Over 300,000 users globally can create unique AI-generated text arts, fusion arts, and QR code arts. We spoke to co-founder and CEO, Kai Yong, Kang.
What, in your opinion, are the AI trends in East Asia and the Pacific region?
Southeast Asia encompasses a diverse amalgamation of eleven countries, each at different stages in the AI adoption process due to their varying technological development and complexities. Three key trends have emerged:
Talent Gap
A Top Artificial Intelligence (AI) Predictions in Asia/Pacific for 2023 and Beyond report mentions that persistent talent gaps will drive 55% of IT organizations to invest in AI skills by 2023, both to run automated IT operations and to support business end users adopting AI and automation solutions.
Although there is a significant talent pool in the Southeast Asia region, specifically Vietnam, it falls short when it comes to AI expertise. Addressing this shortfall issue, are initiatives by Vietnamese professionals with AI expertise from global tech giants like Google that are championing non-profit AI communities aimed at education and skill development in AI. These efforts are essential for inspiring a new wave of technical talent to pursue an AI specialization.
Ecosystem Development
The East Asian AI and Deep Tech ecosystem is still in its infancy; however, it is garnering significant interest from investors. Global corporate giants are becoming increasingly interested based on several new initiatives, such as accelerator programs tailored for Vietnamese startups. Approximately 80 new Generative AI startups have set up shop since 2023, demonstrating a keen interest, confidence and commitment in the region to AI and Deep Tech innovation. To keep up with rapid development in this sector, scalable and robust infrastructure needs to be put in place to meet business needs both locally and internationally.
Funding Ecosystem
Vietnam is seen as a top funding location for startups in Southeast Asia. Unfortunately, only a slice of funding is allocated to AI and Deep Tech ventures, which makes it that more harder for startups seeking financial backing to scale and advance. There are exceptions where AI startups have received funding through bootstrapping thanks to their entrepreneurial spirit and innovation which are synonymous with the region's ethos.
What do you expect will be the major driving factors or trends in your industry in 2024?
2023 yielded unprecedented advancements in the area of Generative AI, particularly in the domain of content creation—encompassing text, images, and video.
Text Generation Advances
Although OpenAI's GPT-4 continues to set the bar, the emergence of open-source innovations such as the Llama architecture and Mistral has truly redefined the field. This has led to the operation of large language models (LLMs) directly on personal devices with efficiencies that challenge traditional cloud-based services.
Disruption in Image Generation
OpenAI's DALL-E 3 and MidJourney's V6 have both made significant advancements in the field of image generation. However, Stability AI's Stable Diffusion, particularly the SDXL model, has been the highlight. The introduction of Latent Consistency Models (LCM) has made it possible to generate images instantly, transforming the creative process by enabling real-time creation. This shift is not merely a technical enhancement but a fundamental change in how artists and creators bring their visions to life, facilitating immediate iteration and realization of ideas. At Pixel ML, our alignment with these open-source innovations, particularly our refinement of the Stable Diffusion model, has positioned us as a key player in AI-powered QR code solutions globally.
Innovation in Video Content
The field of video content creation also saw significant development with the introduction of Pika Lab v1.0 and the open-source Stable Video Diffusion (SVD).
What do you expect will be the major driving factors or trends in your industry in 2024?
The Generative AI industry is shifting driven by several key factors that promise to redefine the accessibility and application of AI technologies in marketing and more. We believe that at Pixel ML, we are at the forefront of leveraging these trends to empower entities of all sizes with innovative marketing strategies through our diverse suite of applications.
Seamless User Experiences
A pivotal trend we anticipate is the significant lowering of entry barriers for utilising AI tools. The evolution of user interfaces will reach a point where the intricacy of prompting or technical expertise becomes obsolete.
Enhanced AI-driven Personalization
Marketing personalization is ready for a transformation powered by AI's capability to deliver unparalleled customisation. This trend is not just about refining user engagement; it's about completely tailoring the experience to individual preferences and behaviors.
The Rise of AR and VR in Marketing
Technologies such as Apple's Vision Pro, the spotlight is on augmented reality (AR) and virtual reality (VR) as the next frontiers for brand engagement. These technologies offer immersive experiences that are set to become a staple in marketing campaigns, providing personalised and interactive ways for brands to connect with their audience. As AR and VR become more mainstream, we anticipate a surge in campaigns leveraging these technologies to create memorable and engaging experiences.
What is a key takeaway you would like to share?
The Southeast Asian AI ecosystem is a vibrant space for ambitious and cost-effective innovation. It is fast becoming a hub where startups leverage Generative AI to develop global solutions, often without widespread recognition. For the global AI community, this underscores the importance of paying attention to the impactful and efficient advancements emerging from this region.
Three Key Messages About Trends in East Asia:
A Shift to Generative AI: 2023 was the year GenAI was invented and developed. In 2024 innovators will apply it to real-world problems and bring new solutions to market. This will impact and drive the emergence of additional startups and investment in East Asia.
Funding Potential: Creative and innovative ideas attract investors. As the Gen AI market matures there will be a race among investors to provide funding for the new talents emerging in the East Asia region.
Talent Search: With a shortage of skilled AI specialists, it is essential that both education and tools are provided to build up the talent pool in this region.
Join Intel® Liftoff and Launch Your Innovation
Consider participating in Intel® Liftoff for AI Startups to capitalize on the trends outlined in this article. Intel's virtual accelerator program provides early-stage AI startups with access to Intel's technological leadership and resources. Check it out here: developer.intel.com/liftoff.
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