Synthetic Intelligence (AI) has gone mainstream, however implementing it’s nonetheless a significant problem in keeping with a brand new report by the government-funded Nationwide AI Centre (NAIC).
The report, Australia’s AI Ecosystem Momentum report, spoke to greater than 200 enterprise decision-makers and AI service suppliers about how they had been utilizing the know-how to develop their revenues and enhance effectivity.
Whereas corporations of all sizes are eager to embrace AI tech, its implementation usually requires multi-disciplinary groups to design end-to-end options and the issue is that the service supplier ecosystem remains to be fragmented and area of interest. A majority of respondents to the report, 60%, stated they’re accelerating and increasing their AI choices to fulfill market demand.
However privateness, safety and information high quality are challenges to AI adoption, exacerbated by expertise shortages for implementing and working AI methods.
Consequently, NAIC director Stela Photo voltaic, stated corporations should be snug with the concept of working alongside a number of suppliers to make sure they get full options that ship enterprise outcomes.
“Earlier than they begin excited about working with exterior companions for his or her tasks, enterprise leaders ought to take the time to grasp the place AI can ship advantages throughout their enterprise,” she stated.
“AI undertaking exploration ought to begin with figuring out precedence enterprise outcomes, earlier than shifting to evaluate whether or not this can be a distinctive problem that may require a bespoke answer or if the answer already exists in a pre-configured or packaged kind.”
The businesses concerned within the NAIC evaluation reported partaking at the very least 4 AI know-how and repair suppliers to ship a undertaking, whereas 28% stated they labored with greater than six suppliers. Solely 17% use a single supplier.
The excellent news, Photo voltaic stated, is Australian companies responding for the evaluation reported a median income development of $361,315 for every AI-enabled answer they applied.
“Over 80% of companies surveyed anticipated their year-on-year income to develop, with know-how on the centre of their development methods,” she stated
The report additionally highlights the significance of taking a ‘Accountable AI’ method, as AI can have far-reaching moral implications for patrons, society and the world at giant. It calls on enterprise leaders to take accountability to construct and deploy AI methods which create accountable outcomes.
The highest three advantages of implementing AI, in keeping with the report are improved safety, better income development and elevated cyber security.
Elevated automation of inside processes and improved operational effectivity and effectiveness had been additionally proven to be important benefits of AI adoption.
Minister for Science and Trade Ed Husic stated AI is poised to remodel industries.
“AI must be seen as greater than only a enterprise instrument. We are able to put it to work to learn communities and nationwide wellbeing too,” he stated.
“However seizing that enterprise potential will take some work, constructing consciousness and dealing throughout companies, giant and small, to make {that a} actuality. Australia’s obtained some high AI expertise right here and we have to scale up this effort for the longer good thing about the nation.”
Obtain the AI ecosystem report right here.