Applications

Australian businesses noting AI, IoT to help stay competitive

(c)iStock.com/NuStock

Research firm Telsyte says it has noted a sharp increase in Australian enterprises adopting the latest technologies to stay competitive by creating new products and services – including the Internet of Things (IoT) and artificial intelligence (AI).

According to its Telsyte Australian Emerging Enterprise Technology Study 2017, more than 50% of the organisations are in the midst of investigation, planning and roll out of emerging technologies.

The firm foresees IoT becoming a critical part of organisations with about 90% Australian CIOs agreeing on this and nearly 23% of companies in the midst of test, development or the production phase of IoT. 59% claim to have saved costs from adopting IoT and 30% noted improvements in customer service. However, the huge expenditures associated with implementation of IoT and overhauling the legacy IT infrastructure confront organisations that are not ready yet to make large scale investments.

The study also noted rising curiosity in AI, machine learning and automation. About two-thirds of businesses are exploring ways to manifest machine learning to improve business decision making. It is also attracting 65% of CIOs who are seeing use cases to use it in financial modelling and fraud detection. Cognitive computing is also gaining traction with nearly two-thirds of organisations intending to use it in forms like customer-facing apps.

Other findings in the study include:

  • One in four IT leaders believes autonomous flying vehicles can be used in the industry
  • About 50% or more organisations are exploring or already developing AR applications
  • 74% indicated they had use cases for voice recognition technology in their organisation
  • Over 60% believe smart wearable devices to be a value addition
  • 59% are exploring impacts of blockchain technology in their industry

To learn more about AI in Global Enterprise register for your pass to the AI Exhibition and Conference this fall in Santa Clara, CA today!

 Interested in hearing industry leaders discuss subjects like this and sharing their use-cases? Attend the co-located AI & Big Data Expo events with upcoming shows in Silicon Valley, London and Amsterdam to learn more. Co-located with the  IoT Tech Expo, Blockchain Expo and Cyber Security & Cloud Expo so you can explore the future of enterprise technology in one place.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

To Top

We are using cookies on our website

We use cookies to personalise content and ads, to provide social media features, and to analyse our traffic. Please confirm if you accept our tracking cookies. You are free to decline the tracking so you can continue to visit our website without any data sent to third-party services. All personal data can be deleted by visiting the Contact Us > Privacy Tools area of the website.