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Geopolitics and Generative AI: Will Middle Powers Reshape the Map?

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BOSTON, Dec. 9, 2024 /PRNewswire/ — As the generative AI map takes shape, the US and China are asserting their dominance. Tech companies from these GenAI superpowers have built a substantial lead in the creation and large-scale commercialization of top-performing large language models (LLMs). Another group of countries—the “GenAI middle powers”—is emerging, however, each with distinct strengths that may enable it to compete at a regional, and even global, scale as a supplier of the technology.

A new report, “How CEOs Can Navigate the New Geopolitics of GenAI,” from the BCG Henderson Institute and BCG’s Center for Geopolitics, looks at the current state of play and the implications for both corporate leaders and policymakers.  

“As it becomes clear that GenAI will shape industries and societies, the emergence of middle powers signifies a critical shift in the global balance of technological power,” said Nikolaus Lang, global leader of the BCG Henderson Institute and a coauthor of the report. “For corporate leaders who are integrating GenAI into their business operations, relying solely on GenAI supplied by companies in the US or China could pose serious risks due to the possibility of regulations, data requirements and availability of the models all being vulnerable to shifts in government policy.” 

Two AI Superpowers…For Now 

The two AI superpowers—the US and China—are currently the only players with robust access to and control over sizeable portions of the entire GenAI value chain. They produce the most intellectual property (IP) and they have the largest AI talent pools; they have some of the richest data ecosystems in the world and the most data center infrastructure capacity, and they lead in capital access.  

The US has had a pronounced head start, building on decades of AI leadership. Nearly 70% of the world’s notable AI models since 1950 have been developed by or in partnership with US-based companies or academic institutions, as have 57% of top-performing large language models (LLMs). The US is home to 60% of the top 2,000 AI scholars in the world and attracted roughly one-quarter of all AI specialists that relocated globally between 2022 and 2024; its total AI talent pool has grown to nearly half a million people, the largest in the world. US-based GenAI startups have also received unparalleled private investment: a total of $65 billion since 2019. 

Some signs indicate that China is catching up to the US. Two Chinese companies (Alibaba and the GenAI startup 01.AI) contribute over one-quarter of the world’s top open-source LLMs. Established tech giants Baidu and Tencent have also released high-performing models, as have a new generation of GenAI startups, the so-called AI tigers. Top Chinese LLMs have substantially reduced the gap compared to state-of-the-art alternatives in the last year. China benefits from ample data center infrastructure and a strong AI talent bench, and current limitations in China’s access to cutting-edge chips for AI model training and inference are likely to delay rather than impede further progress.  

Who Could Emerge as a New GenAI Player? 

This US–China story has fueled a “two superpowers” narrative, but momentum is building in other parts of the world. 

The European Union can position itself as a significant GenAI middle power by combining the strengths of its member states. The EU is already home to a nascent GenAI startup ecosystem and has the second-largest global AI specialist talent pool. As a sizeable market, with a combined GDP of $18 trillion, it can support the development of locally developed AI models that may be viewed as more protective of users’ data in the context of its demanding regulatory environment. While its GenAI startups have attracted considerable investment, the EU faces challenges in scaling infrastructure and bridging the funding gap compared to the US and China.

Saudi Arabia and the United Arab Emirates (UAE) can rely on substantial sovereign wealth funds and focused investments to rapidly grow their AI talent bench, expand data center infrastructure, and develop high-performing LLMs. Saudi Arabia has committed $40 billion to AI development and is increasing its data center capacity, while the UAE has launched a $10 billion AI VC fund and developed high-performing Arabic language models. Both nations’ efforts are supported by low energy costs and easing restrictions on access to cutting-edge chips. To sustain current advancements, Saudi Arabia and the UAE will need to continue growing their respective talent bases and expand technology export markets.

Japan and South Korea can build on their established tech ecosystems, significant R&D investments, and expertise in hardware to position themselves as GenAI middle powers. South Korea benefits from its strong position in semiconductor manufacturing and domestic companies making inroads in developing LLMs, while Japan has fostered partnerships among corporate, academic, and governmental institutions to accelerate model development. However, both nations will likely need to pursue a regional focus to consolidate sufficient market demand to justify the scale of investments needed to compete in the GenAI space.

Some countries may be able to compete by capitalizing on their robust AI research ecosystems and talent pools to build better, more cost-efficient LLMs. For example, Canada and the UK are home to a sizeable share of the world’s top AI scholars, have produced many notable AI models, and have published some of the most important AI research papers. Israel, despite its smaller population, has a high concentration of AI specialists and has developed competitive models. For these countries, opportunity lies in accelerating research breakthroughs.

A Call to Action for Leaders 

On the one hand, companies across industries have a vested interest in a diversified supply of GenAI. The lessons of Covid-19 are stark: a massive disruption can create severe chokepoints and destroy value. If all options originate in just two countries, it could lead to disruptions in GenAI’s availability due to geopolitical shocks. Corporate leaders will need to build the “geopolitical muscle” required to sense coming shifts and adapt their operating models.  

On the other hand, because AI sovereignty may soon become a critical source of national security, economic value, and soft power, governments of countries or in regions with potential to become GenAI middle powers should consider what it would take to claim the space.  

“This race is far from over,” said Nikolaus Lang. “Both business and political leaders will need to navigate a dynamic and high-stakes environment, shaped by regulation, policy and technology. Whether the middle powers—and which ones—will establish a claim to the competitive supply of GenAI at a global scale is one of the biggest unknowns. How this plays out has the potential to rewrite the rules of the game.” 

Download the publication here:
https://www.bcg.com/publications/2024/how-ceos-navigate-new-geopolitics-of-genai

Media Contact:
Eric Gregoire
+1 617 850 3783
gregoire.eric@bcg.com 

About Boston Consulting Group
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.

Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.

 

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SOURCE Boston Consulting Group (BCG)

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Payroc Partners with Biller Genie to Streamline Accounts Receivable for QuickBooks Merchants

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January 13, 2025

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New Integration with Payroc Gateway Enhances Payment Solutions and Reduces Processing Costs

TINLEY PARK, Ill., Jan. 13, 2025 /PRNewswire-PRWeb/ — Payroc, a leading payments technology company, has announced a strategic partnership with Biller Genie, a cloud-based accounts receivable automation platform, to offer QuickBooks merchants a more streamlined payment experience. This integration with the Payroc Gateway provides an all-in-one invoicing and payment solution, automating the accounts receivable process while delivering cost savings through RewardPay Choice, Payroc’s compliant surcharge program.

This integration with the Payroc Gateway provides an all-in-one invoicing and payment solution, automating the accounts receivable process while delivering cost savings through RewardPay Choice, Payroc’s compliant surcharge program.

Through this partnership, QuickBooks merchants can automate their invoicing and payment collection processes, resulting in enhanced efficiency, reduced manual tasks, and accelerated payment processing. This collaboration not only elevates merchant operations but also empowers Payroc’s sales partners with a comprehensive solution that combines automation with significant cost savings. Together, we are committed to transforming the accounts receivable experience.

“By integrating with Biller Genie, we’re providing a complete accounts receivable solution to our sales partners and their merchants,” said James Derby, EVP of Product Commercialization at Payroc. “This partnership will help merchants automate key processes, save on processing fees, and focus on growing their business.”

The integration provides several advantages for QuickBooks merchants, including automated invoicing, payment reminders, and collections, which reduces manual data entry and saves time. With Payroc’s RewardPay Choice, merchants can further lower their processing fees by passing a portion of the costs to customers through a compliant surcharge program.

“We are excited to partner with Payroc and bring this solution to QuickBooks users,” said Garima Shah, President of Biller Genie. “This integration with the Payroc Gateway allows merchants to automate their accounts receivable process, giving them more time to focus on running their business instead of administrative tasks and get paid faster.”

This partnership supports Payroc’s mission to provide innovative payment solutions while expanding its presence in the U.S. card-not-present (CNP) market. QuickBooks merchants can now utilize Payroc to benefit from lower processing rates, efficient invoicing, and a more streamlined accounts receivable process.

For more information, please visit: https://payroc.com/solutions/gateway/

About Payroc:
Payroc is a leading provider of integrated payment solutions, empowering independent software vendors (ISVs) and businesses worldwide to turn complex payment challenges into revenue-driving opportunities. With vertically tailored solutions that deliver competitive advantages, Payroc enhances customer value and consumer convenience through a consultative, partner-centric approach. Processing over $115 billion annually for more than 190,000 merchants globally, our high-growth platform combines advanced payments technology with unified commerce solutions to support scalability and growth.

Media Contact

Yosselin Nunez, Payroc, 1 (888) 477-4500, yosselin.nunez@payroc.com, https://payroc.com/

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LeapXpert Recognized as a Visionary in Inaugural Gartner® Magic Quadrant™ for Digital Communications Governance & Archiving (DCGA)

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January 13, 2025

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NEW YORK, Jan. 13, 2025 /PRNewswire/ — LeapXpert, the responsible business communication pioneer, today announced that it has been recognized as a Visionary in the first Gartner Magic Quadrant for Digital Communications Governance & Archiving (DCGA).

 

LeapXpert’s flagship offering, The LeapXpert Communications Platform, provides an innovative and comprehensive DCGA solution, catering to enterprises seeking robust, scalable communication governance and compliance.

Digital Communications Governance and Archiving solutions (DCGA) are designed to enforce corporate governance and regulatory compliance across a growing number of digital communication tools available to employees.

Dima Gutzeit, Founder & CEO of LeapXpert, shared his thoughts on the recognition:

“We believe being named a Visionary in the Gartner inaugural Magic Quadrant for DCGA validates the innovation and dedication that drive our platform and team. In our eyes, this underscores our commitment to empowering enterprises to maintain governed, compliant, and efficient communication in an increasingly complex digital landscape.”

“We believe this recognition reflects the growing need for organizations to bridge the gap between convenience and governance in digital communication,” added Avi Pardo, Co-founder & CBO. “We feel our platform is at the forefront of solving this challenge, and we are proud to be a trusted partner for Fortune 500 companies and enterprises worldwide.”

This recognition comes shortly after LeapXpert was named one of the fastest-growing tech companies in North America, ranking 14th in New York City on the Deloitte Fast 500 list, and recent recognition at the UC Awards, where it won Best Unified Communications Platform under $250M for 2024.

Download the report here.

Gartner, Magic Quadrant for Digital Communications Governance and Archiving Solutions, Michael Hoeck, Jeffrey Hewitt and Rizvan Hussain, January 8, 2025.

Gartner Disclaimer

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

LeapXpert, the responsible business communication pioneer, provides enterprises with peace of mind through governed, compliant, and secure communication solutions. The LeapXpert Communications Platform enables governed and efficient communication between employees and clients through consumer messaging channels, while boosting productivity and decision-making with Communication Intelligence. The company is headquartered in New York, with offices in London, Tel Aviv, and Asia. Hundreds of enterprise customers, with hundreds of thousands of users in more than 45 countries, depend on LeapXpert daily for Digital Communications Governance & Archiving (DCGA) solutions. For more information, visit www.leapxpert.com.

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Metaverse Wallets Market to Reach $32,310 Million by 2030, Driven by Blockchain and Mobile Wallet Growth | Valuates Reports

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January 13, 2025

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Metaverse Wallets Market is Segmented by Type (Desktop Wallet, Online Wallet, Mobile Wallet, Hardware Wallet, Paper Wallet), by Application (Commercial, Individual).

BANGALORE, India, Jan. 13, 2025 /PRNewswire/ — The Global Metaverse Wallets Market was valued at USD 7697 Million in 2023 and is anticipated to reach USD 32310 Million by 2030, witnessing a CAGR of 22.5% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Metaverse Wallets Market:

The Metaverse Wallets market is set for significant growth, driven by the expanding metaverse ecosystem and the increasing need for secure and efficient digital financial tools. As the metaverse evolves into a fully immersive virtual environment, the integration of advanced technologies such as blockchain, artificial intelligence, and decentralized finance (DeFi) enhances the functionality and appeal of metaverse wallets.

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TRENDS INFLUENCING THE GROWTH OF THE TRENDS INFLUENCING THE GROWTH OF THE METAVERSE WALLETS MARKET :

Mobile wallets are pivotal in driving the growth of the Metaverse Wallets market by providing users with seamless and convenient access to their digital assets within virtual environments. These wallets enable easy transactions, secure storage, and efficient management of cryptocurrencies and non-fungible tokens (NFTs) directly from mobile devices. The widespread adoption of smartphones and the increasing reliance on mobile applications for financial transactions have accelerated the integration of mobile wallets into the metaverse. Additionally, mobile wallets offer user-friendly interfaces and advanced security features, enhancing the overall user experience and fostering trust among users. As the metaverse expands and more users engage in virtual economies, the demand for robust mobile wallet solutions continues to rise, thereby propelling the growth of the Metaverse Wallets market.

Online wallets are instrumental in driving the growth of the Metaverse Wallets market by offering accessible and flexible solutions for managing digital assets within virtual spaces. These wallets operate through web-based platforms, allowing users to access their funds and conduct transactions from any internet-connected device. The convenience of online wallets facilitates real-time transactions, enabling users to participate actively in the metaverse’s dynamic economy. Furthermore, online wallets often integrate with various metaverse platforms, providing interoperability and ease of use across different virtual environments. The scalability and adaptability of online wallets make them suitable for a wide range of users, from casual participants to serious investors. As the metaverse continues to evolve, the reliance on online wallet solutions grows, driving the expansion of the Metaverse Wallets market.

Individuals play a crucial role in driving the growth of the Metaverse Wallets market by being the primary users and adopters of these digital financial tools. As more people engage with the metaverse for social interaction, gaming, and commerce, the need for secure and efficient wallet solutions becomes essential. Individuals seek metaverse wallets to store, manage, and transact their digital assets, including cryptocurrencies, NFTs, and virtual goods. The increasing awareness and understanding of blockchain technology and digital finance among the general population further boost the adoption of metaverse wallets. Additionally, the desire for ownership and control over digital assets motivates individuals to invest in metaverse wallets, fostering a robust user base and driving market growth. The continuous expansion of individual participation in the metaverse underscores the importance of metaverse wallets in facilitating seamless digital interactions and transactions.

Metaverse wallets incorporate advanced encryption techniques and multi-factor authentication to safeguard against unauthorized access and cyber threats. The increasing incidents of digital fraud and theft in virtual environments highlight the need for secure wallet solutions that ensure the integrity and confidentiality of user data. Additionally, privacy features that allow users to control their personal information and transaction history enhance trust and confidence in metaverse wallets. This in turn will drive the Metaverse Wallets market growth.

Integration with blockchain technology is a key factor driving the growth of the Metaverse Wallets market, as it enhances the transparency, security, and efficiency of digital transactions. Blockchain provides a decentralized and immutable ledger that ensures the authenticity and traceability of transactions conducted through metaverse wallets. This integration facilitates seamless peer-to-peer transactions, smart contract execution, and decentralized finance (DeFi) applications within the metaverse. The use of blockchain also reduces the reliance on intermediaries, lowering transaction costs and increasing the speed of asset transfers. Additionally, blockchain’s inherent security features protect against fraud and tampering, making metaverse wallets more reliable and trustworthy.

User experience is a critical factor driving the growth of the Metaverse Wallets market, as it directly impacts user adoption and satisfaction. Metaverse wallets are designed with intuitive interfaces and seamless navigation to ensure that users can easily manage their digital assets and perform transactions within virtual environments. Features such as one-click transfers, customizable dashboards, and real-time notifications enhance the usability and functionality of metaverse wallets.

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METAVERSE WALLETS MARKET SHARE:

North America leads the market, driven by its advanced technological landscape, high adoption rates of blockchain and cryptocurrency technologies, and significant investments in metaverse development by major tech companies.

Europe follows closely, with strong regulatory support, a growing number of blockchain startups, and increasing interest in virtual economies and digital assets.

The Asia-Pacific region is experiencing rapid growth, fueled by the expanding gaming industry, rising smartphone penetration, and substantial investments in metaverse platforms in countries like China, South Korea, and Japan.

Key Companies:

EnjinCoinbaseMath WalletCoinomiTrust WalletConsenSys(Metamask)Alpha Wallet

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

– Metaverse Market

– Development Trends and Application Analysis of the Metaverse

– Metaverse Games Market was estimated to be worth USD 125 Million in 2023 and is forecast to a readjusted size of USD 2016.1 Million by 2030 with a CAGR of 48.5% during the forecast period 2024-2030.

– Metaverse Cybersecurity market was valued at USD 1260 Million in 2023 and is anticipated to reach USD 2832.4 Million by 2030, witnessing a CAGR of 11.3% during the forecast period 2024-2030.

– Metaverse Devices and Accessories Market

– Metaverse Virtual Platform market was valued at USD 1221 Million in 2023 and is anticipated to reach USD 3305.7 Million by 2030, witnessing a CAGR of 15.3% during the forecast period 2024-2030.

– 5G Network for Metaverse Market

– Metaverse in Intelligent Healthcare Market was estimated to be worth USD 1153 Million in 2023 and is forecast to a readjusted size of USD 4798.3 Million by 2030 with a CAGR of 22.6% during the forecast period 2024-2030.

– Agricultural Metaverse Market

– NFTs in Metaverse Market was estimated to be worth USD 242 Million in 2023 and is forecast to a readjusted size of USD 1158.9 Million by 2030 with a CAGR of 25.9% during the forecast period 2024-2030.

– Industrial Metaverse Market was estimated to be worth USD 10250 Million in 2023 and is forecast to a readjusted size of USD 723700 Million by 2030 with a CAGR of 95.4% during the forecast period 2024-2030.

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