Australian organisations have ranked fourth in an evaluation of how extensively enterprises in 16 international locations are utilizing and implementing generative AI. The survey, carried out by knowledge analytics agency SAS, discovered that 63% of Australian companies are actually utilizing generative AI.
The findings, primarily based on responses from 1,600 international AI and knowledge analytics resolution makers, discovered that Australian generative AI utilization is forward of the worldwide common and that Australia is main the pack with regards to the deployment of generative AI-related insurance policies.
Which international locations are absolutely implementing generative AI?
Sixty-three p.c of Australian organisations say they use generative AI. Australian enterprises sit behind China (83%), the U.Okay. (70%) and the U.S. (65%), in line with SAS, however are forward of the worldwide common, with 54% of enterprises worldwide utilizing generative AI.
Companies within the APAC area as a complete, led by China, are among the many world’s most voracious adopters of AI. Though North America is forward in general utilization of AI (70%), APAC companies aren’t far behind, with a complete of 63% utilizing it at some stage inside their organisations.
Utilization doesn’t imply they’re absolutely implementing the instrument. Solely 8% of Australian enterprises surveyed by SAS have absolutely carried out generative AI, behind the 11% international common. Many native companies are nonetheless experimenting with or piloting generative AI use instances.
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It’s a related story in China, the place, regardless of very excessive utilization, solely 19% of organisations have absolutely carried out generative AI. The U.S. is main the pack with regards to full implementation, SAS discovered, with 24% of organisations absolutely deploying the know-how.
Australian organisations happy with generative AI rollouts
Australian companies obtain good outcomes once they do deploy AI. For instance:
- 91% reported higher worker expertise and satisfaction, in contrast with 89% globally.
- 85% mentioned they’re making financial savings on operational prices, in contrast with 82% globally.
- 89% acknowledged that buyer retention is increased because of AI, in contrast with 82% globally.
Craig Jennings, SAS vp and managing director of ANZ, mentioned he was seeing native organisations enhance worker satisfaction and operational efficiencies whereas liberating up assets for “enhanced innovation and buyer experiences.”
Information safety is the highest generative AI concern in Australia
Seventy-two p.c of Australian respondents identify knowledge safety as their prime concern with regards to generative AI. Based on SAS, this was adopted by:
- Information privateness (64%).
- Moral implications (64%).
- Over-reliance or dependence on generative AI (59%).
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Australia is comparatively extra able to implement laws to assist alleviate these issues. SAS discovered that nearly three quarters (73%) of respondents from Australian organisations mentioned they’re both absolutely or reasonably ready for generative AI laws.
Challenges with governance and monitoring
Australian resolution makers mentioned technological limitations (32%), an absence of transparency and accountability (28%), and an absence of clear pointers or requirements (21%) had been the most important challenges when implementing efficient governance and monitoring of generative AI.
Expertise gaps aren’t as dangerous as in different areas
Regardless of a generative AI-related expertise scarcity, APAC respondents, together with Australians, even have much less problem discovering expertise (49%) than different areas do. Europe has probably the most problem at 56%, whereas solely 44% of North American companies have an issue on this space.
Australia arrange effectively for generative AI progress
Australian enterprises have a lot of foundational components in place to assist deploying generative AI strategically and successfully — even when they’ve been slower than different international locations in absolutely deploying these instruments. These components embody:
- A robust understanding of generative AI know-how.
- The widespread implementation of generative AI use insurance policies.
- Devoted budgets for brand new generative AI initiatives.
Moreover, the report discovered that:
- 87% of Australian respondents reported that they understood AI effectively or had a average private understanding, in contrast with 82% of respondents world wide.
- Extra Australian companies (72%) have carried out generative AI use insurance policies in contrast with North America (63%), South West and Jap Europe (60%), and Northern Europe (58%).
Virtually all (94%) of Australian organisations which might be planning to spend money on generative AI within the subsequent monetary yr have managed to safe a devoted price range for the know-how. This was on par with the APAC area as a complete (94%), however forward of Northern Europe (91%), South West and Jap Europe (91%) and North America (89%), in line with SAS.
SAS’s Jennings mentioned that, general, industries as various as monetary companies, life sciences, and retail in Australia had been punching above their weight with regards to maturity in understanding and adoption of generative AI, which bodes effectively for the way forward for the know-how within the area.