Generative AI to Transform Asia Pacific's Corporate Real Estate Landscape

According to a new report by Colliers titled "AI in Corporate Real Estate," the Asia Pacific generative AI market is poised for significant growth. The market is expected to grow at a compounded annual rate of 37.5% between 2024 and 2030, possibly adding around USD 76 billion annually to the regional economy by the end of the decade.

Singapore emerges as a leader within the region, with AI anticipated to contribute up to SGD 198.3 billion (USD 147.6 billion) to the economy by 2030. The Salesforce AI Readiness Index 2023 ranks Singapore at the top for AI preparedness, alongside Australia, Indonesia, New Zealand, and Thailand, which have all shown improved AI readiness scores since 2021.

The report underscores the necessity of transparency and comprehensive data usage in maximizing AI's potential in corporate real estate. It also highlights potential job creation linked to AI and stresses the importance of robust data governance and management strategies to harness AI effectively. (ANI)