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AI gold rush? New APAC research reveals major gap between AI Leaders and Followers

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AI Leaders are setting themselves apart through approaches to strategies, skills, governance, and trust40% of APAC organisations are expecting at least 3x ROI on AI investmentsOver $110 billion is set to be invested in AI across the region by 2028

SINGAPORE, Oct. 23, 2024 /PRNewswire/ — The IDC Data and AI Pulse: Asia Pacific 2024 study, commissioned by SAS, has revealed Asia Pacific (APAC) organisations are rushing to jump onto the AI bandwagon, with nearly half (43%) planning a large investment increase in AI of over 20% in the next 12 months. While organisations are investing heavily in AI, only 18% of APAC businesses consider themselves as AI Leaders, leaving a large gap between those AI Leaders driving long-term transformational change, and AI Followers experimenting with numerous projects and lacking a clear AI strategy.

Of those surveyed, AI Leaders indicated their top business outcomes from AI initiatives are focused on driving new revenue growth (32%), increasing operational efficiency (31%) and increasing profits (26%). By comparison, AI Followers indicated improving customer service (27%), expanding market share (25%) and faster time to market (25%) as their top business outcomes.

“The disparity in target outcomes between AI Leaders and AI Followers demonstrates a lack of clear strategy and roadmap. Where AI Followers are focused on short-term, productivity-based results, AI Leaders have moved beyond these to more complex functional and industry use cases,” said Shukri Dabaghi, Senior Vice President, Asia Pacific and EMEA Emerging at SAS.

“As businesses look to capitalise on the transformative potential of AI, it’s important for business leaders to learn from the differences between an AI Leader and an AI Follower. Avoiding a ‘gold rush’ way of thinking ensures long-term transformation is built on trustworthy AI and capabilities in data, processes and skills,” said Mr. Dabaghi.

“The IDC Data and AI Pulse: Asia Pacific 2024 study is an important snapshot of how hundreds of large APAC organisations are approaching adoption and implementation of AI, highlighting the leaders and followers across industries,” said Chris Marshall, Vice President, Data, Analytics, AI, Sustainability, and Industry Research at IDC Asia/Pacific. “These insights give us the opportunity to unpack the barriers to successful AI implementation, allowing businesses to make wiser investments into these new and emerging technologies, without being caught-up in the gold rush”. 

Generative AI is only one part of the AI journey

While a great deal of AI hype has focused on generative AI, the study reveals that organisations have been investing into predictive and interpretive AI technologies. In 2023, generative AI accounted for just 19% of AI investment but by 2024, and is predicted to increase to 34% reflecting a more balanced distribution across these three AI categories.

IDC’s latest spending guide suggests AI spending in Asia Pacific will reach US$45 billion in 2024, rising to US$110 billion by 2028 at 24% CAGR (2023-2028).[1]

The research reveals that organisations are reallocating budgets for the 2024 increase in generative AI investment, with a third saying it will come from redistributing funds away from infrastructure modernisation and 37 percent from application modernisation.

Expectations are high when it comes to ROI

The study reveals this prospective gold rush fuelled by inflated expectations of AI’s potential return on investment. The research found that 40% of organisations surveyed expect at least a three-fold return on investment, with the “fear of missing out” continuing to spur AI spending. As a result, the research shows AI has at times been adopted without a clear alignment between investments and their outcomes and business value.

With 43% of organisations planning to increase their AI investment by 20% or more in the next 12 months, organisations risk being disillusioned with AI because of these tactical investments’ likely returns. Instead, business leaders should realise that building an AI capability takes time and requires solid AI foundations to ensure long-term value add.

“While consumer access to generative AI tools made AI feel magical, integrating it into an enterprise environment takes a lot of work, the right infrastructure, and often the high expectations placed on these tools are unrealistic,” says Mr. Dabaghi. “Understanding these pitfalls provides us the opportunity to learn how we tackle these issues, enabling a higher success rate, and meeting business objectives when it comes to adopting and successfully implementing AI.”

Pulse of AI across industries

The study provides a detailed analysis of how AI is impacting different industry sectors in the APAC region, with key focus areas including banking, insurance, healthcare, and government sectors.

The skills-gap remains a consistent challenge across industries when it comes to successful AI adoption and implementation. This skill-gap is felt the most within the healthcare industry (41%), followed by the government sector (38%), insurance industry (32%), and less so in banking (29%). Despite this challenge, these industries continue to invest in improving their data and AI capabilities to deliver more streamlined decision-making, greater automation, faster time to market for new products and services, cost savings, and a host of other benefits.

Nonetheless, some use cases are being consistently and successfully deployed – in banking for instance, with its top three use cases: liquidity risk management, asset and liability management and financial crime analytics. In insurance, the research suggests we are seeing AI use cases for insurance claims fraud, omni-channel delivery of products and intelligent pricing. In health care, notable use cases include health care fraud and cost containment, while in government, the popular AI use cases relate to ensuring social benefits programme integrity, supporting emergency response, and tax and revenue compliance.

AI adoption trends vary across countries

The AI landscape in APAC varies by country, with each market showing unique adoption trends. China is leading in AI investments, showing a large increase in AI projects over the next 12 months (59 per cent), with India and Japan following suit (51 per cent; 46 per cent respectively). Furthermore, China and South Korea are advancing more rapidly in AI adoption and integration than the others. This disparity is driven by factors such as investment levels, regulatory frameworks, and the availability of AI talent and infrastructure. The lack of skilled personnel is a national as well as an industry concern in Japan, Australia and South Korea and many parts of Southeast Asia.

The research highlights the opportunities and the challenges associated with increasing AI investments across APAC in the coming years. It suggests that to unlock AI’s full potential, companies must develop in-house skills, build a strong portfolio of strategic use cases and plan for AI costs and risks from the start. By doing so, they can achieve some of the promised higher returns and foster greater trust in future AI investments.

The full report is available through the eBook: Data and AI Pulse: Asia Pacific 2024.

Methodology

The study, conducted in June 2024, includes 509 executives across eight Asia Pacific markets (Australia, China, India, Japan, Korea, Malaysia, Singapore, and Thailand) and sampled organisations across banking and finance, manufacturing, government, and health care & life sciences. Leaders were surveyed to examine their AI investment decisions, how they want AI to serve their organisations, challenges to deployment, and their approaches to managing these processes to achieve trusted AI outcomes.

About SAS

SAS is a global leader in data and AI. With SAS software and industry-specific solutions, organizations transform data into trusted decisions. SAS gives you THE POWER TO KNOW®.

[1] IDC’s Worldwide AI and Generative AI Spending Guide, August 2024

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Northern Hemisphere Heat Drives Demand for Cooling and Sun-Protection Products on Yiwugo

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YIWU, China, July 24, 2026 /PRNewswire/ — Yiwugo.com, the official website of the Yiwu Commodity Market, is the largest commodity wholesale market in the world. The final whistle may have blown on the World Cup, but the intense heat gripping the Northern Hemisphere shows no sign of letting up. Europe has experienced unusually hot weather this year, sparking not only a surge in demand for air conditioners but also a boom in portable handheld fans. Merchants on Yiwugo say that in previous years, European customers would begin placing orders in March or April and take their time completing their annual procurement. This year, however, the purchasing season has stretched well into summer, with a flood of new buyers coming in, most of them looking for small handheld fans. With customers eager to capitalize on the peak summer season, delivery timelines have also become significantly tighter. Whereas orders in previous years could generally be fulfilled within a month, merchants are now frequently being asked to deliver within about a week, leaving manufacturers scrambling to keep pace with demand.

Lingpan Official Flagship Store has specialized in the production and sales of small fans, insulated cups, and related products for 15 years. This summer, demand from European customers for high-speed small fans has risen sharply, accompanied by urgent delivery requirements. Many customers began requesting shipment just one week after placing their orders, hoping the products would arrive in time for the World Cup and the ongoing heatwave across Europe. One long-standing European customer purchased only five models of small fans from Lingpan last year. Anticipating stronger demand ahead of this summer, the customer expanded the order to 10 models. The first shipment sold out soon after arriving at port, prompting several subsequent repeat orders. European buyers have shown particular interest in high-speed cooling fans and placed great requirements on product quality. So far this year, Lingpan’s fan sales have more than doubled compared with the same period last year, with total purchases reaching approximately RMB 1 million.

Beyond Europe, the owner of Lingpan, Ling Pan pointed out that the Indian market has also undergone significant changes over the past two years. Indian customers are showing great interest in panda-shaped fans, drinking cups, and related products. Procurement volumes among many Indian buyers have increased substantially, with average annual purchases now reaching several hundred thousand yuan.

Unlike European countries grappling with sudden heat waves, Asian markets such as Japan and South Korea, where summers are consistently hot and air conditioners and fans are already everyday essentials, have shown much stronger demand for sun-protection products. From April 1, 2026 to date, sales of sun-protection masks on Yiwugo have increased by 31.6% YoY, while sales of sun-protection face shields surged by 72.42% and sun hats rose by 8.1%.

Chen Jia, a Yiwugo merchant, has engaged in the production and sales of sun-protection masks and sun-protection face shields for eight years. Chen operates the Xiao Zhen and Xiao Mian Sun-Protection Products Workshop in District 4 of the Yiwu International Trade Market. In recent years, the company has customized cooling nylon fabrics for customers in Japan and South Korea. Sun-protection masks and sun-protection face shields made from this material not only offer UPF 50+ protection, but also maintain a more structured shape and are less susceptible to snagging or deformation. Their protective performance remains effective after routine washing, and the products can last for more than five years under normal use.

In 2024, a TV shopping operator from South Korea contacted Xiao Zheng and Xiao Mian through Yiwugo and began placing orders after inspecting the products in person. Over the following two years, the company continued to improve the fitness and design of its sun-protection products. It introduced sun-protection face shields with breathable mesh panels and incorporated soft supports around the nose area to prevent the masks from rubbing against lipstick. These product upgrades have steadily driven up customer ratings on the client’s store. Annual procurement, initially valued at around RMB 300,000, has risen year by year, and the company has since developed into a recognized brand in the local market.

Persistent heat across the Northern Hemisphere has been creating new forms of cross-border consumer demand while enabling Yiwugo merchants to keenly capture shifts in overseas markets. From the strong sales of small portable fans in Europe to the rising demand for functional sun-protection products in Japan and South Korea, the diversity of orders reflects both consumers’ need for relief from extreme heat and the ability of Yiwu manufacturers to strengthen their presence in global markets through product innovation and rapid fulfillment. Faced with a rapidly changing international market, many merchants are continuing to refine product designs, upgrade fabric techniques, and enhance supply efficiency. By leveraging Yiwugo to broaden their export channels, they are keeping pace with overseas consumption trends and capitalizing on the expanding market for cooling and sun-protection products, turning the summer heat into new momentum for cross-border trade.

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Snorkel AI Highlights First Wave of Open Benchmarks Grants Projects

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SAN FRANCISCO, July 24, 2026 /PRNewswire/ — Snorkel AI today highlighted the first group of projects supported through Open Benchmarks Grants, a $3 million commitment to support open-source datasets, benchmarks, and evaluation research.

Launched in February 2026, Open Benchmarks Grants has received hundreds of applications from researchers, labs, and engineers working to address a growing challenge: AI systems are advancing faster than the field’s ability to rigorously measure their performance on realistic, consequential work.

“From complex environments and huge autonomy horizons to rich, sophisticated outputs, these projects tackle some of the field’s hardest evaluation challenges,” said Fred Sala, a member of the Open Benchmarks Grants steering committee and assistant professor at the University of Wisconsin–Madison. “I’m excited to see the broader research community use, validate, and build on them.”

Open Benchmarks Grants provides selected teams with funding, expert data development support, research and engineering collaboration, and platform resources. Supported projects include:

Frontier-Bench (formerly Terminal-Bench 3.0), developed with Laude Institute and the Harbor community, is a harder, more domain-diverse successor to Terminal-Bench 2.1 — built in the open, task by task, under continuous adversarial review.Agents’ Last Exam, developed with UC Berkeley RDI and the RDI Foundation, evaluates agents on long-horizon, economically valuable professional workflows. It spans 55 sub-industries and includes more than 1,500 tasks toward a 5,000-task target, sourced and validated by more than 300 industry experts.OSWorld 2.0, developed with XLANG Lab, evaluates computer-use agents on 108 long-horizon workflows across 31 self-hosted web environments and professional desktop applications.Continual Learning Bench, developed with UC Berkeley SkyLab and the University of Wisconsin–Madison, measures whether agents genuinely improve across sequential, stateful tasks.SlopCode Bench, developed with the University of Wisconsin–Madison, measures how code quality degrades as coding agents repeatedly modify and extend their own solutions.Terminal-Bench 2.1, developed with Stanford University, Laude Institute and the Harbor community, evaluates agents on challenging work in terminal environments. The release corrected 28 tasks and introduced continuous validation.

With support from Open Benchmarks Grants, Terminal-Bench Science is also now in development, extending the Terminal-Bench framework to computational research workflows across the life, physical, earth, and mathematical sciences.

Beyond the grants program, Snorkel led the development of Senior SWE-Bench with the research teams at Princeton University and the University of Wisconsin–Madison. The benchmark evaluates coding agents on senior-level engineering work, including implementing features from realistic instructions, investigating bugs that require runtime analysis, and producing code that follows existing codebase conventions.

Open Benchmarks Grants was established with support from Hugging Face, Prime Intellect, Together AI, Factory, Harbor, and PyTorch. Applications remain open and are reviewed on a rolling basis.

Learn more and apply for a grant at benchmarks.snorkel.ai.

About Snorkel AI
Snorkel AI is the frontier AI data lab, helping teams build the data and environments behind high-performing frontier and agentic AI. We combine technology with research-driven AI data development to create datasets, benchmarks, evals, and custom solutions for real-world AI systems. Founded out of the Stanford AI Lab in 2019, Snorkel works with leading AI labs and enterprises to move from better data to better outcomes. 

media@snorkel.ai

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Payzli Vaults to No. 3 on Tampa Bay’s Fast 50, Up From No. 22 in One Year

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Payments technology company, Payzli earns a second consecutive Fast 50 ranking, crediting the climb to accelerating partner and merchant growth on its proprietary technology stack.

TAMPA, Fla., July 24, 2026 /PRNewswire/ — Payzli, the partner-first payments technology company, has been named the No. 3 fastest-growing company in the region on the Tampa Bay Business Journal’s 2026 Fast 50 – a 19-spot climb from its No. 22 debut last year, and the company’s second consecutive year on the list.

The ranking was announced July 23 at the Tampa Bay Business Journal’s Fast 50 event in Tampa, where Co-Founder and Chief Revenue Officer Naim Hamdar accepted the award alongside members of the Payzli team.

Payzli attributed its growth to a compounding effect: a national network of ISOs, agents and ISVs bringing merchants onto a technology platform Payzli built and operated in-house. 

That platform rests on three proprietary pillars:

Payzli Connect: the company’s payment CRM and merchant-and-partner dashboard, giving agents and ISOs daily residuals visibility and giving merchants a single place to run their account.Payzli POS: AI-powered point-of-sale and business software purpose-built for service businesses, including salons, med spas, wellness studios, and independent operators.Payzli Transact: an online payment gateway built on Visa Platform Connect through Payzli’s partnership with Visa Acceptance Solutions.

The Visa Acceptance Solutions partnership is central to how Payzli frames its credibility: rather than assembling a growth story on top of borrowed infrastructure, the company processes on rails backed by one of the most established networks in the industry alongside Fiserv and TSYS – a point that matters to the partners and merchants deciding where to place their volume.

“A second year on this list, and a jump to No. 3, isn’t about one good quarter. It’s about a network deciding to build with us and stay,” said Naim Hamdar, Co-Founder and Chief Revenue Officer of Payzli. “Every rank on this list represents partners we’ve earned and merchants who trust us to run their payments. We built the technology in-house so we could keep the promises the industry usually breaks: nothing hidden, a real person in reach, and daily residual visibility our agents can actually count on. That’s what this ranking measures and it’s why we’re doing it all, for the joy of business.”

“They say nothing in Tampa moves fast except the afternoon thunderstorms, so making the Fast 50 two years running feels pretty good,” said Kapil Pershad, Co-Founder and Chief Technology Officer of Payzli. “In all seriousness, this is a credit to our team and the businesses that trust us to power their growth.”

The Fast 50, produced by the Tampa Bay Business Journal, recognizes the fastest-growing private companies in the Tampa Bay region. Payzli’s return to the list and its move into the top three reflects a merchant-first product suite and a rapidly expanding national partner network across the payments and embedded-finance landscape.

About Payzli

Payzli is an end-to-end payments technology partner that makes accepting payments simpler and affordable for businesses of all sizes and risk levels. Founded in 2020 and headquartered in Tampa, Florida, Payzli brings together in-person processing, an advanced online gateway, AI-powered point of sale, and mobile and contactless payments – backed by its own technology, honest pricing, and dedicated human support. Built partner-first, Payzli equips ISOs, agents, developers, and independent software vendors to grow, with direct integrations to major processing platforms, in-house underwriting, a flexible credit policy, a Visa Acceptance Solutions foundation partnership, and sponsor-bank backing from Esquire Bank, a NASDAQ-listed strategic investor in Payzli. For more information, email partners@payzli.com or visit payzli.com.

Payzli is a registered trademark of United Payment Systems LLC. United Payment Systems LLC is a registered ISO of Esquire Bank (Jericho, NY), Commercial Bank of California (Irvine, CA), and KeyBank, National Association (Cleveland, OH).

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