In a recent survey conducted by data analytics firm SAS, Australian organisations were ranked fourth in terms of their use and implementation of generative AI. The survey found that 63% of Australian businesses are currently utilizing generative AI, which is higher than the global average. While Australia sits behind China, the U.K., and the U.S. in terms of generative AI adoption, they are ahead of the global average.
However, despite the high usage of generative AI, only 8% of Australian enterprises have fully implemented the tool. This is lower than the global average of 11%, with many businesses still in the experimentation or piloting phase. Data security was identified as the top concern for Australian organisations when it comes to generative AI, followed by data privacy, ethical implications, and over-reliance on AI.
Australian businesses have reported positive results from implementing AI, including improved employee satisfaction, cost savings, and increased customer retention. Despite some challenges with governance and monitoring, Australian organisations are relatively more prepared for generative AI regulations compared to other regions.
Overall, Australian enterprises have the foundational elements in place to support the strategic and effective deployment of generative AI. With a strong understanding of the technology, widespread implementation of AI use policies, and dedicated budgets for new AI initiatives, Australia is well-positioned for further growth and adoption of generative AI in the future.
