Australian businesses confident in AI investment opportunities

Australian mid-market businesses anticipate significant AI returns, with 86% planning to boost investment by 50% or more.

In Short

Australian mid-market businesses are confident in AI, anticipating significant ROI by 2025, with many planning substantial budget increases. However, they face challenges like data quality and legacy systems, necessitating a clear AI strategy for success.

Australian mid-market businesses are increasingly confident in AI, expecting four-fold returns on investment by 2025. A recent Avanade Australia report highlights their strategies in navigating the AI landscape.

Aram Lauxtermann, Chief Technology & Innovation Officer from the team at Avanade Australia joined the show to unpack the latest findings.

Around 80% of surveyed companies believe failing to invest in AI could lead to a loss of competitive advantage. Consequently, 86% plan to increase their budgets for AI by at least 50%.

Modernising legacy systems is essential for successful AI implementation. Many companies recognise the need to upgrade these systems to enhance scalability and efficiency. There are now advanced, cost-effective tools available to simplify this process.

To derive real value from AI investments, businesses must develop a clear AI strategy, focusing on their vision, productivity, and revenue opportunities. Identifying key value pools and establishing appropriate controls are critical steps in this journey.

Avanade is committed to helping companies through this transition. More information on their resources and strategic papers can be found at avanade.com.