Australian businesses ranked fourth in 2024 global survey on generative AI use

Australian organisation ranked fourth in assessment Extensive use and implementation of generative AI by companies in 16 countriesThe survey by data analytics company SAS found that 63% of Australian businesses are currently using generative AI.

The findings, based on responses from 1,600 AI and data analytics decision-makers around the world, found Australia is ahead of the global average in its use of generative AI and is a leader in deploying generative AI-related policies.

Which countries are fully implementing generative AI?

63% of Australian businesses say they use generative AI. According to SAS, Australian businesses lag behind China (83%), the UK (70%) and the US (65%), but are ahead of the global average, where 54% of businesses use generative AI.

Asia Pacific businesses, led by China, are among the most enthusiastic adopters of AI in the world. While North America leads in overall AI adoption (70%), businesses in Asia Pacific are not far behind, with 63% using AI in their organizations.

Using it doesn’t mean they are fully implementing the tool. Only 8% of Australian businesses surveyed by SAS have fully implemented generative AI, below the global average of 11%. Many local businesses are still experimenting or piloting generative AI use cases.

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The situation is similar in China, where, despite high adoption, only 19% of organizations have fully implemented generative AI. SAS found that the United States leads in terms of full implementation, with 24% of organizations fully deploying the technology.

Australian organizations pleased with generative AI rollout

Australian businesses are deploying AI to great effect. For example:

• 91% of businesses reported an improvement in employee experience and satisfaction, compared to 89% globally.
• 85% of respondents said they are saving operating costs, compared to 82% globally.
• 89% of respondents said AI has improved customer retention, compared to 82% globally.

Craig Jennings, SAS vice-president and ANZ managing director, said he had seen local businesses improve employee satisfaction and operational efficiency, while freeing up resources for “enhanced innovation and customer experience”.

Data security is Australia’s top generative AI concern

72% of Australian respondents said data security was their top concern for generative AI. The SAS survey showed that this was followed by:

• Data privacy (64%).
• Ethical impact (64%).
• Over-reliance or reliance on generative AI (59%).

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Australia has been relatively willing to implement regulations to help alleviate these concerns. SAS found that nearly three quarters (73%) of Australian organizations surveyed said they were either very or moderately prepared. Generative AI Rules.

Governance and monitoring challenges

Australian policymakers cited technological limitations (32%), lack of transparency and accountability (28%), and lack of clear guidelines or standards (21%) as the biggest challenges to implementing effective governance and monitoring of generative AI.

The skills gap is not as severe as in other regions

although The skills shortage for generative AIRespondents in the Asia-Pacific region, including Australians, actually experience less difficulty finding skills (49%) than those in other regions. Europe faces the greatest difficulty at 56%, while only 44% of North American companies experience problems in this regard.

Australia is ready for generative AI

Australian businesses have a number of building blocks that enable them to strategically and effectively deploy generative AI – although they have been slower than other countries to fully deploy these tools. These include:

• Have a deep understanding of generative AI techniques.
• Broad implementation of policies for the use of generative AI.
• Set aside a dedicated budget for new generative AI initiatives.

In addition, the report found:

• 87% of Australian respondents said they had a good or moderate level of personal understanding of AI, compared to 82% of global respondents.
• More Australian businesses (72%) have implemented a policy on the use of generative AI than businesses in North America (63%), Southwest and Eastern Europe (60%) and Northern Europe (58%).

Nearly all (94%) Australian organizations planning to invest in generative AI in the next financial year have successfully secured a dedicated budget for the technology. This is in line with the Asia Pacific region as a whole (94%), but higher than Northern Europe (91%), Southwest and Eastern Europe (91%) and North America (89%), according to SAS.

SAS’s Jennings said that overall, Australia’s maturity in understanding and adopting generative AI across industries as diverse as financial services, life sciences and retail has exceeded expectations, boding well for the technology’s future in the region.