Anticipated Uptick in AI Adoption Among Australian Small and Medium-Sized Enterprises
In an intriguing turn of events, a recent independent survey commissioned by Small Business Loans Australia has shed light on the rapid integration of Artificial Intelligence (AI) within Australian businesses.
The findings reveal a significant shift, with 60% of all Australian businesses either currently using or planning to integrate AI into their operations over the next two years. This surge in AI adoption is surprising, given the relatively recent launch of ChatGPT in 2022.
West Australian businesses are currently leading the charge, with 40% already integrating AI. However, the future adoption plans are less optimistic, with only 13% of West Australian businesses planning for further AI integration.
On the other hand, New South Wales and Western Australian businesses show a strong preference for AI chat boxes and email replies for customer interactions, with 33% each favoring these tools. South Australian businesses, on the other hand, are shirking customer relationship management bots, but aim to catch up with 38% planning to integrate AI by 2026.
The survey also highlights the favourable use of AI for time-consuming and laborious tasks, as stated by Alon Rajic, Founder and Managing Director of Small Business Loans Australia.
The adoption of AI is not limited to larger businesses. In fact, 18% of micro businesses (less than 10 employees) are already using AI, with an additional 23% planning to use it by 2026.
Interestingly, Victoria businesses use AI copy generating and editing tools the least, while larger businesses are more likely to use AI for creative work, with 20% of medium-sized businesses admitting to using or planning to use AI copy generators and editors and image generation.
The survey also questioned 205 directors and decision-makers across micro, small, and medium-sized businesses. It found that 25% of Aussie businesses have already adopted AI tools, with 17% of Queensland businesses currently using AI, and 36% of NSW businesses using AI-powered customer or data analysis tools.
AI productivity tools are also favoured among SMEs, with 23% using it or preparing to integrate it into day-to-day operations.
In a separate development, it's worth noting that many finance teams in Germany are planning to integrate AI technology into their processes by 2025–2027. This is driven by regulations like the AI Act and digitalization pressures, with 58% of finance functions already using AI in 2024 and further growth expected.
Various projects and partnerships across industries including industrial data ecosystems and workplace health management are also leveraging AI from 2024 through 2027. Companies such as ENERGIEALLIANZ Austria are modernizing customer processes with AI-based CRM and digital tools.
In conclusion, the survey results paint a picture of a rapidly evolving landscape of AI adoption in Australia, with SMEs leading the charge. The favourable use of AI for productivity and customer interactions, coupled with the continued growth in adoption, suggests that AI is set to play a significant role in the future of Australian businesses.
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