Survey Reveals Rapid Adoption of AI by Mainland Chinese Enterprises

A survey released on the 21st reveals that the adoption of artificial intelligence (AI) among businesses in mainland China has steadily increased over the past three years. Nearly half (48%) of accounting and finance professionals surveyed anticipate that their companies will expand AI applications in the next 12 months, more than doubling from last year's figure of 20%. This data comes from the "2024 Business Technology Application Survey," published by CPA Australia, one of the largest professional accounting associations globally.

The survey indicates that 44% of participants reported an increase in their companies’ investments or upgrades in technology over the past year. Looking ahead, 81% of respondents expect their companies to enhance technology applications in the coming year, with AI (48%) leading the way, followed by data analysis and visualization software (43%) and business intelligence software (37%).

Jin Ke, Vice President of the East and Central China Committee of CPA Australia, noted that the Chinese government's supportive policies and the rapid advancements in generative AI and large model technologies have created favorable conditions for the adoption of AI within mainland enterprises. By leveraging AI, companies can enhance data analysis, improve decision-making, automate repetitive tasks to boost efficiency, reduce costs, and increase their contributions to the value chain.

Despite these advancements, the survey highlights that the use of AI in mainland Chinese businesses remains in its early stages. Seventy-two percent of respondents reported that AI is applied only to a limited or moderate extent in their companies. Moving forward, businesses must continue to invest in enhancing their data acquisition, application, and management capabilities to expand the commercial use of AI and facilitate a transition to more intelligent, data-driven business models. Jin Ke identified financial costs and low investment returns as major challenges faced by businesses in mainland China and the Asia-Pacific region in implementing new technologies over the past year.