Entrepreneurs in the Asia-Pacific region see artificial intelligence (AI) as a major driver of business growth, with many willing to invest in AI infrastructure and applications, according to a report by UBS. The survey, which included 156 entrepreneurs worldwide, found that 66% of respondents in the region believe AI presents the best commercial opportunity, compared to 59% in the Americas and Europe. Switzerland, one of the four surveyed regions, showed the highest confidence in AI, with 70% of its entrepreneurs recognizing its potential.
On a global scale, 62% of respondents identified AI as the technology with the greatest opportunity for business expansion. Around 67% planned to use AI to improve productivity, while 46% expected to reduce headcount through automation. In the Asia-Pacific region, those numbers were even higher, with 75% looking to enhance efficiency through AI and 66% considering workforce reductions.
“AI is a key focus for APAC entrepreneurs, particularly for its ability to boost business productivity,” said Sundeep Gantori, a global technology equity strategist at UBS. The report also found that 50% of Asia-Pacific entrepreneurs are prepared to invest in AI infrastructure and applications, making the region one of the most forward-thinking in terms of AI adoption.
Beyond AI, Asia-Pacific entrepreneurs expressed strong interest in blockchain technology and big data analytics. Around 44% of respondents from the region saw growth potential in big data, a sentiment shared by their counterparts in the Americas. However, the region showed less enthusiasm for expanding workforce numbers or upgrading equipment in the short term. While 54% of global entrepreneurs planned to hire more employees in the next year, only 31% in the Asia-Pacific region indicated similar intentions.
Market shifts and economic pressures have driven businesses toward AI automation. One Chinese entrepreneur noted that their company had to lay off 50% of its workforce in 2023 to improve efficiency through AI-driven automation.
Despite concerns over higher taxes and geopolitical instability, entrepreneurs remain optimistic about long-term growth. The UBS report found that 53% of respondents worldwide were concerned about political uncertainty over the next 12 months, while 41% were worried about global conflicts. However, these concerns diminished when looking ahead five years.
Overall, six in ten entrepreneurs expressed optimism about the future, with the Americas being the most confident region. About 71% of entrepreneurs in that market planned to expand their workforce, highlighting differing regional priorities in business strategy and investment focus.
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