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IT is like a new relationship – the first year was starry-eyed and full of promise.

Now is the time for businesses to start thinking about how they'll create a governance framework for their generative artificial intelligence applications.

Just a third of organizations in Asia-Pacific will be able to benefit from AI, with the rest held back by some key issues, predicts research firm Forrester.

According to Forrester's (Nasdaq: FORR) 2024 predictions, released today, while most Asia Pacific (APAC) firms see generative AI (genAI) as a lever for productivity improvement, their real stumbling block is a risk-averse culture and inadequate data management capabilities. Just 30% of firms that have more mature IT practices are strategically positioned to harness AI's benefits, including enhanced productivity, greater operational resilience, superior customer experience, and business model inn

Forrester (Nasdaq: FORR) today announced that Dr. Reddy's Laboratories and Union Bank of the Philippines are the winners of its Technology Strategy Impact and Enterprise Architecture Awards for Asia Pacific, respectively. These awards, which will be presented at Technology & Innovation APAC, recognize both organizations for executing technology strategies that enable their business to be more adaptive, creative, and resilient — accelerating business growth and driving customer outcomes.