AI Race: Businesses Still at the Starting Line
Australian Financial Review
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Details
- Date Published
- 26 Feb 2024
- Priority Score
- 3
- Australian
- Yes
- Created
- 8 Mar 2025, 02:41 pm
Description
We are starting to see tangible returns from early corporate AI deployments, but there is still room for much more ambition and evolved use in the years ahead, experts say.
Summary
Despite early successes in AI implementations, Australian businesses remain in the early stages of realizing AI's full potential. Experts compare the current trajectory of AI adoption to the industrial revolution, implying significant forthcoming transformations. The article details how leading Australian corporate, public sector, and technology leaders are assessing the implications of generative AI innovations like ChatGPT. This coverage is relevant in understanding the perspectives of Australian leaders on AI's potential and the steps needed to navigate this evolving landscape. However, it does not delve deeply into catastrophic AI risks or comprehensive safety frameworks.
Body
Paul SmithTechnology editorFeb 26, 2024 – 5.00amSaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginAustralian business is yet to see the full value of burgeoning artificial intelligence capability, but productivity gains already being touted at some of the country’s biggest companies are the start of era defining changes, leading experts said compared to the industrial revolution.A group of top level Australian corporate and public sector bosses, investors, entrepreneurs, technology industry and political leaders, joinedThe Australian Financial Reviewto assess how much has changed since the topic of generative AI burst onto the mainstream agenda at the end of 2022 with the launch of ChatGPT, and where the big opportunities lie.Loading...SaveLog inorSubscribeto save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreAISalesforceSalesforce AustraliaBusiness ITInnovationTelstra CorporationEd HusicCommonwealth BankWestpac Banking CorporationNational Australia BankCanvaAFR ReportsPaul SmithTechnology editorPaul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy.Connect withPaulonTwitter.EmailPaulatpsmith@afr.comFetching latest articlesOlympic weightlifting is hard. This boss uses the 1pc rule to get it doneLucy DeanOut-of-control watch price rises give housing a run for its moneyKnow your craft: How the biggest airlines rate at the pointy endJun Bei Liu: How I learnt to speak upSally Patten and Lap PhanThe four actor ‘tricks’ giving executives more confidence‘We’ll fight’: Alex Waislitz on family battles and bad betsA last-chance tote bag and a groovy case for trumpetersEugenie KellyThis machine can bring out the creative streak you never knew you hadThis data-driven wellness retreat is a haven for high-flyersBillionaire Nicola Forrest appoints UBank boss to run family officePrimrose RiordanVictor Smorgon’s star fundie eyes 50pc returns for new fundForrest family powerbroker had alleged role in big Fortescue decisions