GitHub, a top-tier AI-fuelled developer platform, has recently shared some fascinating insights on Australia's future in generative AI and open source for 2024. The emerging trends follow an impressive 231% leap in public generative AI projects on GitHub in 2023.
Sharryn Napier, Vice President, APAC at GitHub, commented: "In 2023, generative AI entered the mainstream. Businesses began to experiment with this technology, with many yielding productivity gains as a result. While industries worked to unravel the security, legal, and ethical implications of this transformative technology, it was clear that organisations of all sizes, in every sector, stood to gain from its transformative power."
These developments signify a turning point in the economy, reshaping how businesses approach software development. Anticipated industry-specific applications of generative AI are set to take centre stage. Napier noted, "2024 will see a strategic shift where organisations leverage generative AI to address specific challenges within their control."
As developers continue experimenting with generative AI, they will play a critical role in bringing its rapidly developing capabilities into the mainstream. This innovation will breed new, competitive products and services that establish new industry standards for customer experience.
Napier said, "Australia is heading in the right direction towards embracing generative AI. Those who embrace this technology and adapt swiftly will attain business outcomes at an accelerated pace, outshining their competitors and flourishing. AI has the potential to illuminate the Australian and the global economy in a way we have not seen since the industrial revolution."
In 2023, Australia saw a gratifying 21% growth in its software developer population on GitHub, from 1 million to 1.4 million. The number of public generative AI projects increased by a staggering 231% in the same period, signifying Australia's growing significance in the AI landscape. Napier stated that the growth "signifies a commitment to long-term gains" and emphasised the critical role of effectively navigating AI policy.
Generative AI has been instrumental in democratising coding, contributing to the wider accessibility of software development. This process expects to break traditional barriers to coding, which could solve Australia's ongoing software developer shortage. "This inclusivity not only fuels innovation but also brings forth a new era of collaborative and diverse thinking for software development," added Napier.
The imminent rise of the generative AI business model, with Australia's investment in critical technologies set to reach $261 billion by 2030, suggests that generative AI will serve as a crucial factor in this growth. Smaller, high-growth firms are poised to incorporate AI technologies, thereby enhancing profits and market competitiveness.
Shedding light on this development, Napier concluded: "We're approaching an exciting time for the exploration of generative AI business models. Investors, who are laser-focused on profitability, will be closely scrutinising the business models that leverage generative AI for productivity gains, innovation, and creative excellence."