AI

Mainland Chinese business world embracing digitalization, AI

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September 11, 2023

A growing number of businesses in mainland China are embracing digitalization strategies, including AI solutions, with 85% of respondents reporting their business has a digital transformation strategy, according to a report from CPA Australia, an international professional accounting organization.

The findings involve data from the 2023 Business Technology Survey, conducted from May to July 2023 across the Asia Pacific region, with 697 finance and accounting professionals responding and with nearly one third of respondents holding C-suite or other senior positions.

"The digital economy has become a key driver of economic growth," Tony Chan, deputy president, South China Committee at CPA Australia, said in the release. "Despite a myriad of uncertainties and challenges in Mainland China's economic recovery, we are glad to see that businesses have continued to invest in digitalization and innovation.

AI use is on the rise as well, with 69% of respondents reporting their company used AI in the last twelve months (up 9 percentage points from 2022 survey results).

""A series of policy support initiatives and the rapid development of generative AI have significantly boosted AI adoption in Mainland China," Chan said. "To reap the rewards from future innovation and enhance competitiveness, we recommend businesses continue upskilling the technology capabilities of their employees."