Despite the macro factors impacting the economy, Australian enterprises are increasing investments in AI. According to IDC’s recent study, automation for efficiency, customer happiness, business agility, and accuracy are the primary drivers of rising AI adoption and investment in Australia.
The Major Drivers of AI – Cost is not a Top Factor
- Improving Customer Experience
- Business Agility
- Focus on Accuracy
- Efficiency
AI solutions are enabling changes to business models
AI investments are helping replace traditional 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
The Major Use Cases
The major drivers increasing AI adoption are: Improving CX and Helping Employees Perform Better.
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
Major AI Projects in Australia
The top drivers of AI adoption range from early detection and prevention to improving efficiencies. From skin cancer detection to autonomous mining. That’s the spectrum of AI services in Australia today.
AI is a A$315 billion opportunity for the Australian economy, noted a study by the nation’s leading scientific body CSIRO.
An on-farm agricultural robot Agbot II developed by the Queensland University of Technology could save Australia’s farm sector A$1.3 billion per year. The robot could help achieve this by automating weed removal and improving agricultural productivity.
Over 2400 sensors are placed on the Sydney Harbour Bridge to monitor the structural strength. Data is analysed using Machine Learning and Predictive Analytics improving maintenance.
According to PwC, AI could be worth A$22 trillion by 2030. Digital technologies, including AI, are potentially worth A$315 billion to the Australian economy by 2028 (source: AlphaBeta)
For more details, check out the page on AI here.
