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Australian business leaders ‘eager’ to embrace AI technology

Australian business leaders ‘eager’ to embrace AI technology
Australian business leaders ‘eager’ to embrace AI technology
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Australia has the highest rate of employees using artificial intelligence (AI) tools to complete their work tasks compared to any other country. This is according to a new study by Slack, which found the country outnumbered countries like Japan, the UK, the US, Germany, and France.

Slack, a cloud-based team communication platform, also found that more people are using AI to complete work; the number has grown by 60% since September 2023. In Australia alone, that figure increased by 35%. The survey questioned over 10,000 people. 

What does this mean for business owners? According to the report, 79% of Australians who used AI tools at work saw “productivity gains.”

Trusting artificial intelligence

The Illawarra Mercury in Australia quotes Slack’s Christina Janzer, confirming that business leaders are eager to embrace AI technology. However, they are slow to introduce policies for the responsible use of AI. 

She says “fear” and a “lack of guidance” discourage people from fully embracing AI tools. Janzer says although many Australians are using artificial intelligence tools, they don’t know if they are even allowed to use them. This is mainly due to not receiving guidance from their companies. 

The younger generation (Gen Z men) are more likely to use AI than women their age. 

Australian government’s investment

The federal government has identified artificial intelligence, along with robotics and automation, as one of the cornerstones that can boost the country’s economy. 

The Commonwealth Scientific and Industrial Research Organisation (CSIRO) estimates that developing and commercializing AI will add over $22 trillion to the global economy by 2030. It also projects an estimated $315 billion to be added to Australia’s GDP by 2030 through digital innovations like artificial intelligence. 

Australian businesses have noticed several benefits from using AI:  

  • Average revenue benefit of $361,315.

  • Time-saving of around 30% across all artificial intelligence initiatives implemented.

  • Reduced business costs while experiencing an increased market demand to accelerate and expand their AI solutions.

While there are concerns about the safe use of artificial intelligence, the government is focusing on responsible use. In February, it appointed 12 experts to spearhead the country’s Artificial Intelligence Expert Group. The group will make recommendations on mandatory restrictions to ensure the safe use of AI.

NOW READ: Melbourne researchers take AI startup to Silicon Valley

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About the author

Mia is a multi-award-winning journalist. She has more than 14 years of experience in mainstream media. She's covered many historic moments that happened in Africa and internationally. She has a strong focus on human interest stories, to bring her readers and viewers closer to the topics at hand.

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