As business leaders solidify their strategic plans for the next 12 months, many are evaluating the important role of emerging technologies in business. Ranging from artificial intelligence (AI), and cyber security to cloud computing, these technologies are poised to increasingly facilitate business expansion. As 2024 unfolds, success will likely favor organizations that effectively leverage these technologies.
Top Tech Trends For Australia In 2024
Generative AI
AI is not a new concept; it’s been included into day-by-day activities for pretty a while. People who shop on Amazon, watch movies on Netflix, or interact with a Google assistant are already making use of AI.
In 2023, ChatGPT extended AI awareness to a new level, and its fast development is set to rise. The role of AI is anticipated to transform into an even more daily and crucial business device.
The Generative AI Adoption Trеnd on a Global and Rеgional Scalе
Thе adoption of Gеnеrativе AI еxtеnds bеyond spеcific rеgions; it is a worldwidе trеnd followed by rеgional pattеrns. Basеd on findings from an ADAPT study, thе Asia-Pacific rеgions and India еxhibit notablе lеvеls of AI adoption with adoption ratеs of 64% and 65%, rеspеctivеly. Thеsе arеas arе lеading thе way in incorporating Gеnеrativе AI into thеir corporatе stratеgiеs.
Another analysis carriеd out for ADAPT’s Top Emеrging and Valuе Prioritiеs in 2023 has shеd light on a significant rise in thе еmbracе of gеnеrativе AI by Australian еntitiеs as thеy еntеr thе nеw yеar.
In this timеframе, AI/ML has surfacеd as thе sеcond most prominеnt еmеrging tеchnology, with 75% of Australian organizations alrеady incorporating thеsе tеchnologiеs. Within this group, 39% activеly implеmеnt AI/ML solutions, and an additional 36% arе in thе procеss of tеsting thеsе tеchnologiеs
These figures illustrate the global and local trends in the acceptance of Generative AI Technologies, emphasizing its importance in the modern business environment.
Cloud Migration
Facing the challenges posed by the pandemic, Australian government rapidly responded to the demands of digital transformation by transferring their workloads to cloud systems.
Australia Digital Landscape is Transformed by Cloud Migration
An analysis incorporating insights from 2,000 tech executives in Australia shows an expected milestone for 2025: 55% of workloads will locate their activities in public clouds.
The driving force of this shift is the scalability, support for remote work preparations, and the economic efficiency of cloud platforms. Innovative enterprises at the forefront of this trend demonstrate a remarkable 67% placement of their workloads in public clouds, underscoring the flexibility of these platforms.
However, a significant hurdle to cloud migration in Australia comes from the legacy systems within numerous organizations. Beyond dealing with legacy systems and applications, challenges such as architectural considerations, lack of in-house expertise, and unforeseen migration and operational costs can impede the transition to the cloud.
As we approach 2025, the adoption of public clouds for crucial applications will emerge as a crucial driving factor. Decision-making will hinge on factors such as cost-effectiveness, scalability, and the compatibility of workloads, shaping the direction of repatriation strategies.
Cyber Security
The increasing occurrences of security breaches inside Australian companies have induced an emphasis on safety and resilience.
Urgent Call For Enhancing Cybersecurity Defenses
In 2022, 46% of Australian businesses experienced spear phishing attacks, underscoring the critical necessity to enhance defenses against this particular cyber threat.
Research conducted by SOTI also unveils alarming statistics on data breaches, with 91% of healthcare IT professionals in Australia expressing deep concerns regarding the security of patient records.
This upward trend has contributed to a tremendous surge in data leaks, with 66% of healthcare organizations in Australia encountering each planned and inadvertent facts leaks. Additionally, 63% have faced data breaches due to external resources or DDoS attacks.
The insight signifies the importance of strong security measures, employee cognizance, the implementation of multi-factor authentication (MFA), and adjusting to an evolving threat surrounding.
The Federal Budget 2023 Targets Increased Public Investment In Cybersecurity Enhancement
Addressing the escalating risk, Chief Information Security Officers (CISOs) nationwide have prioritized safety and resilience for the upcoming year.
The annual Federal Budget places a significant focus on cybersecurity and public investment, presenting a chance to observe various projects and financial allocations.
Regarding cybersecurity, the government has earmarked $101.6 million over a five-year span, starting in 2022–23, with an additional annual budget of $11.8 million to continually enhance cybersecurity measures.
Automation
The use of robots in manufacturing dates back to the 1960s. However, it is the extent and scope of the transformation enabled by automated systems, driven by advancements in machine learning and connectivity, that positions automation as a prominent force in contemporary technology trends.
Whether in the form of everyday household devices or large-scale industrial applications, automation is set to be a central focus of technological advancements, carrying potential economic and social ramifications.
Presently, industries like law and finance within professional services are experiencing disruption due to automation. Feedback from these sectors indicates that core technical skills, coupled with management and interpersonal skills, are now more crucial than ever.
Consider Digital Transformation Consulting?
As more companies start the next wave of digital transformation, navigating the landscape of implementing emerging technologies can pose a challenge. This is where the benefits of seeking guidance from experts through consulting services become evident.
Collaborating with experienced consultants allows businesses to fully realize the advantages of generative AI, steering clear of common pitfalls and establishing a foundation for future success.
A generative AI roadmap consultant, such as CMC Global, plays a crucial role in evaluating readiness, offering technology recommendations, addressing potential risks, and ensuring a smooth implementation of generative AI. This, in turn, empowers businesses to unlock the complete potential of this transformative technology.
The CMC Global team is available to assist with:
- Assessing business needs and readiness
- Developing customized roadmaps
- Evaluating and recommending technologies
- Formulating data strategies and preparation
- Providing guidance on team building and resources
- Assessing and mitigating risks
- Establishing governance and compliance standards
- Continuously evaluating and improving processes.
Contact us now for further consultation!
