Indonesia seeks to become AI investment destination
Indonesia is encouraging and inviting information and communications technology (ICT) investors to help position the country as a prime destination for artificial intelligence (AI) investment.
Indonesia's Minister of Communication and Informatics, Budi Arie Setiadi. (Photo: antaranews.com)
Jakarta (VNA) – Indonesia is encouraging and inviting information and communications techno🀅logy (ICT) investors to help position the country as a prime destination for artificial intelligence (AI) investment.
Indonesia's Minister of Communication and Informatics Budi Arie Setiadi said AI's contribution to this ASEAN economy surged from 1 billion USD in 2020 to 11 billion USD in 2022. While AI investment destinations are currently dominated by the US, China, and the UK, the digital sector in ASEAN continues to grow rapidly, with increasing investments in ICT.
The official also urged participants in Indonesia's national digital ecosystem to seize the opportunities for AI development as both a solution and an initiative. In 2023, the country’s digital sector attracted around 22 billion USD in investment.
By 2030, the market potential is projected to reach between 210 billion USD and 360 billion USD, driven by significant growth in e-commerce, online travel, transportation, the food industry, and online media. AI is expected to contribute 366 billion USD to Indonesia's economy by 2030, fueling future economic growth.
Additionally, AI is anticipated to offer solutions across various sectors in developing countries, including education, healthcare, public services, finance, and labour. Access to AI-powered digital services can improve through enhanced public information and services, particularly in rural and remote areas of Indonesia.
AI also holds the potential to boost economic productivity through automation and innovation, enabling small and medium enterprises (SMEs) to compete in the digital era.
Setiadi also acknowledged several challenges that must be addressed for Indonesia to become a competitive AI investment destination. These include uneven infrastructure development and limited funding, which hinder internet penetration - a key driver for AI development./.
Indonesian Foreign Minister Retno Marsudi has emphasised three important steps that her country is following to better manage and apply Artificial Intelligence (AI) to make democracy better and deliver more benefits to the people.
Indonesia will soon issue a regulation on the utilisation of artificial intelligence (AI), according to Indonesian Minister of Communication and Informatics Budi Arie Setiadi.
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