Artificial Intelligence Expands Across Asian Finance, Agriculture, and Law Sectors
Artificial intelligence makes significant strides across Asia in May 2021, impacting industries from fund management to agricultural pest control. Major tech firms and governments also roll out new AI programs focused on healthcare, cybersecurity, and legal predictions.
Artificial intelligence transforms multiple industries across Asia throughout May 2021, with major developments emerging in finance, agriculture, and legal sectors. In China, financial institutions increasingly adopt AI and automation for funds management, while the University of Hong Kong launches an AI Lawyer that predicts sentences specifically for drug trafficking offenses. These advancements highlight a growing regional reliance on machine learning to streamline complex professional services.
Agricultural technology sees significant AI integration in India, where startups like ReshaMandi help silk farmers boost their income by up to 30% through artificial intelligence. Wadhwani AI partners with Google's philanthropic arm to create an app-based system that identifies crop pests and predicts disease trajectories, demonstrating how AI directly supports rural economies. Additionally, L&T Technology Services and Intel collaborate on an AI-driven system to help drivers find parking, targeting a market expected to reach $5.4 billion by 2025.
Government and corporate initiatives further expand AI's reach into cybersecurity and healthcare across the continent. The Philippines announces plans to establish a National Center for AI Research to support its newly unveiled AI Roadmap, while Microsoft expands its Azure Women in AI Program across eight Asian countries. Meanwhile, Google unveils a new tool that uses artificial intelligence to diagnose skin, hair, and nail conditions from patient-uploaded images, though experts warn that new cyber attacks increasingly target neural networks by forcing them to consume excessive energy.