AnyMind’s AI App Studio to Support AI Digital Transformation Among SMEs in Asia-Pacific

In November 2024, Singapore’s AnyMind Group announced the launch of a new department, AI App Studio, dedicated to developing applications based on Generative Artificial Intelligence (Gen AI) and Large Language Models (LLMs) to accelerate businesses' digital transformation. AnyMind is an end-to-end brand enablement platform that builds integrated networks between the brand, manufacturing suppliers, logistic warehouses, and customers through various integrated management platforms with some focus on e-commerce. Its AI App Studio is a step forward in driving the development of its current suite of products to utilize incorporating Artificial Intelligence (AI) and LLMs into an enterprise’s business process.

The company’s intention to expand into the Asia-Pacific region through recruitment and expansion in five engineering centers in Tokyo, Bangkok, Ho Chi Minh City, Bangalore, and Hangzhou indicates strong growth of AI adoption in the Asia-Pacific and Southeast Asia (SEA) markets. The company noted that the AI adoption rate in SEA countries outside of Singapore is over 30% higher than in mature markets like Japan. By focusing on talent acquisition of data and AI engineers, strengthening collaboration with ecosystem partners like Google Cloud, and providing customized AI solutions through their platforms like AnyAI, the AI App Studio possesses solid potential to reach all types of enterprises looking to undertake digital transformation in Asia-Pacific and SEA.

AnyMind’s AI App Studio comes at an opportune time. The explosive increase in the popularity of Gen AI and LLMs has piqued the attention of most enterprises globally since 2022, as more enterprises explore avenues and use cases to integrate AI into their digital transformation roadmaps. As several viable use cases that can capture quick Return on Investment (ROI) value, such as copilot personal assistants and streamlined coding, continue to emerge across industry practices, it is becoming clear to observers that the state of the AI market is ready to move into the “early majority” adoption phase.

ABI Research foresees strong growth and estimates that the demand for Gen AI software in Asia-Pacific will grow into a US$70 billion market at a Compound Annual Growth Rate (CAGR) of 54.4% between 2023 and 2030, with enterprise services as its most significant revenue source. AnyMind’s Business Process-as-a-Service (BPaaS) model is seen as a strong business proposition to capturing growth in the Asia-Pacific market, particularly among Small and Medium Enterprises (SMEs) looking to adopt flexible and easy-to-implement AI solutions. As enterprises across all industries look to digitalize and transform their processes, the allure of easy-to-deploy Gen AI solutions will continue to be a necessary and key differentiating feature.

To capture the expected surge in demand for Gen AI solutions and capitalize on the potential revenue opportunities from enterprises in varying industries, AI solution providers should focus on priorities that can help develop and enhance their services and applications for enterprises looking at digital transformation. By identifying key impacts and measurements of successful AI implementation practices, AI solution providers can develop their development and marketing strategies based on the following:

1. Identifying an Enterprise's Key Pain Points: This involves analyzing organizations' specific challenges and issues in their operations, processes, and systems. Understanding these pain points is crucial for developing effective solutions that address the enterprise's needs.
2. Developing a Service-Based Model: This refers to creating a framework that outlines how services will be delivered to clients. It's essential to consider cost models that appeal to SMEs, as they tend to be price-sensitive. This means offering flexible pricing options and value-driven services aligned with their budget constraints.
3. Prioritizing Low-Code/No-Code and User Interface (UI)/User Experience (UX) Design Principles: Most enterprises, particularly SMEs, that consider integrated AI solutions have little interest in hiring AI engineers and software developers to manage their AI solutions. Easy-to-deploy solutions that require low-code/no-code requirements and thoughtful and practical UI/UX design would also be a key consideration during the purchase process and evaluation of the Total Cost of Ownership (TCO).
4. Developing Different Levels of Sophistication in Software: Enterprises often seek software solutions that can scale in complexity as their needs evolve. This entails designing software with varying degrees of functionality and customization, allowing organizations to select solutions that best fit their requirements at different stages of growth.

In ABI Research’s opinion, the above considerations and prioritization will be key differentiation factors that distinguish AI solution providers’ software solutions. In essence, product and fee flexibility, scalability, and features that are genuinely value-add to organizations will be key to generating and capturing market interest in the AI solution.