As the AI technology marches ahead with significant innovations and transformation, people do raise concern what its future beholds. The futuristic implications of AI swings between two aspects – first the anticipated positive impact of AI on economies and societies and the second negative impact of its potential over humankind. Specifically, the governments in Asia and the civil society residing in the region are concerned about structuring regulatory frameworks to guard against the possible threats.

However, business leaders in Asia are quite optimistic about AI's positive impact on businesses, societies, and the welfare of humanity. Some do believe that AI will be the major growth driver for the region in the coming years. The businesses across Asia are working on their AI priorities to satisfy customer, speed up the decision-making process and cut down inefficiency rate. Interestingly, to achieve all these, not many leaders support the idea of cutting off workforce headcount though the future implications fear of unemployment.

Leveraging AI in every sector also gives rise to the fear of its inbuilt bias. Biases within AI tools and solutions are potentially harmful not only for Asia but for others as well. Experts fear that AI biases may facilitate over-policing of minority communities or economic exclusion. The malicious use of AI and its ability to easily mold into a dangerous weapon are also ethical concerns in Asia as its implementation significantly rises in the industrial region.

Counter to this, Asian governments are designing institutional capacity and regulatory frameworks to enhance AI governance. Several experts believe that Asia will lead the world in the development of AI ethics and governance than any other region. Singapore, Japan, and China are assembling AI institutions to direct governance consulting with the private sector and civil society.

Asia is being viewed as an engaging platform for AI ethics discussion and constructive role of governments. There stirs a vigorous debate regarding ethical issues across companies and some do believe that the government should take charge of its regulation. Both governments across Asia and companies running in the region are committed to extracting the great benefits from AI. In this journey, lack of AI talents becomes another challenge to overcome first.

Interestingly as the concern for lack of AI talents increases, the technology is also threatening the futuristic employment status of people. Some experts do believe that the unchecked use of AI will cause massive loss of jobs and livelihoods and its rise may destroy more jobs than it will create.

However, certain business leaders in Asia are not overly concerned about job loss in their own organizations rather they believe AI will benefit their employees. According to them, their employees believe that their job roles have been enhanced since the introduction of AI.