Understanding, Innovating and Capitalising on Generative AI

This special report produced by Omdia connects the latest developments on Generative AI from various players in the ecosystem and helps uncover how to successfully approach and scale this groundbreaking technology.

By Brianna Ang, Tech for Good Institute

In June 2023, Omdia released its special report for the Asia Tech x Singapore Summit 2023, “The Generative AI Revolution: Understanding, Innovating and Capitalising”

The report explores the promise, current reality and potential perils of Generative AI (GAI) at a time of burgeoning global interest in novel technologies. It defines the GAI ecosystem and the foundational technologies needed for successful application, identifies opportunities and use cases across different types of industries, and key market players, drivers and barriers. Substantiated by AI expert analysis, insights are structured based on the ecosystem, technological considerations, and impact of value-driven use cases to provide a comprehensive overview of the complex and rapidly evolving GAI market.

Despite its nascency, new business opportunities abound as GAI fuels a multi-faceted ecosystem of users and solutions, with many businesses demonstrating fervent interest in tapping into its potential. For instance, companies are already experimenting how to best use GAI to enhance user experience. Use cases have also begun to emerge across diverse industry verticals and sectors, like in marketing, healthcare, enterprise IT and more, bringing efficiencies and transforming workflows.

Nonetheless, inherent problems are embedded in GAI, such as biases or inaccuracies in data, or new legal challenges in IP, copyright and privacy. The report critically emphasises the need to balance the high rewards and potential of GAI against the equally high risks it introduces, and recommends a deliberate and cautious approach to reap the full benefits that GAI offers. This view is similarly echoed in TFGI’s report “From Tech for Growth to Tech for Good”, stressing that transformative digital technologies should serve society and deliver positive impact – not only by solving complex societal problems, but also by preventing harms and optimising efficiency.

Both reports emphasise the importance of rethinking the governance of emerging technologies. Omdia’s report discusses how national governments are dealing with the implications of GAI, noting that many have taken up reactive responses. However, as current efforts are highly divergent, inconsistent, and fragmented on a state and/or country specific level, there remains great difficulty in keeping pace with GAI advancements

Recommended steps moving forward involve more proactive approaches, closer public-private collaboration in standards development, and closer consultation with GAI developers and users. Recognising that innovation and governance ought to be pursued in tandem, TFGI’s report offers a Southeast Asian perspective that builds on these recommendations; from strengthening regional cooperation and partnerships, to cultivating a coordinated and responsive regional regulatory environment.

Please click here to read the special report by Omdia (please note that user registration will be required to download the full report). 

At the Tech For Good Institute, we welcome the opportunity to work together with partners and all stakeholders, so that Southeast Asia may realise the full potential of this Digital Decade. 

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Dr Ming Tan

Founding Executive Director

Dr Ming Tan is founding Executive Director for the Tech for Good Institute. She is concurrently a Senior Fellow at the Centre for Governance and Sustainability at the National University of Singapore. Her research interests lie at the intersection of technology, business and society, including sustainability and innovation.


Ming was previously Managing Director of IPOS International, part of the Intellectual Property Office of Singapore, which supports Singapore’s future growth as a global innovation hub for intellectual property creation, commercialisation and management.


Prior to joining the public sector, she was Head of Stewardship of the COMO Group, a Singaporean portfolio of lifestyle companies operating in 14 countries worldwide. Her portfolio covered sustainability, brand and data privacy. She was concurrently the founding Executive Director of COMO Foundation, the private philanthropy of the owner of the COMO Group.


As a company director, she lends brand and strategic guidance to SuperNature Pte Ltd, COMO Hotels and Resorts (Asia) Pte Ltd, COMO Club Pte Ltd, and Mogems Pte Ltd. In the not-for-profit space, Ming is an Advisor to Singapore Totalisator Board and serves on the boards of Esplanade–Theatres on the Bay, Singapore’s national performing arts centre, St. Joseph’s Institution International and COMO Foundation.


As part of her commitment to holistic education and the arts, she also sits on the Advisory Panel of the Centre for the Arts of the National University of Singapore.


Ming was educated in Singapore, the United States, and England. She obtained her bachelor’s and master’s degrees from Stanford University and her doctorate from Oxford.