Australian enterprises are increasing investment in AI despite the devastating impact on the economy by COVID-19. IDC’s latest report on AI reveals the main drivers behind AI investment in Australia are automation for productivity, customer satisfaction, business agility and accuracy.
AI investment in Australia is helping to replace traditional business models with new ways of doing business with AI in the COVID impacted world. Over half of Australian enterprises implementing AI solutions say the deployments are enabling changes to their business models.
The IDC report stated, Conversational AI is transforming the customer care model while Predictive analytics is shifting traditional maintenance-business models.
Australian enterprises are using AI Recommendation Systems to optimise transport routes, detect driving offences and determine effective environmental protection actions.
organisations are shifting workloads to AI solutions where the system can make decisions and act faster than employees can
Liam Landon, Associate Market Analyst at IDC
Global Investment on AI is set to double in four years: IDC
“Companies will adopt AI — not just because they can, but because they must,” said Ritu Jyoti at IDC.
Despite COVID, the IDC report said “close to one-third of organisations expect their budgets for AI to increase in 2020”.
AI Investment is going to these Top Use Cases
Improving customer experience and helping employees to get better at their jobs are the two leading use cases driving AI adoption
Enterprises in Australia that become ‘AI-powered’ could have the ability to synthesize information, the capacity to learn, and the capability to deliver insights at scale.
This is reflected in the leading use cases which include automated customer service agents, sales process recommendation and automation, automated threat intelligence and prevention, and IT automation.
These four use cases will represent nearly a third of all AI spending this year, IDC noted.
