New research commissioned by Salesforce and conducted by YouGov has highlighted the growing emphasis on generative AI among Australian business leaders. The survey, which polled nearly 300 executives from large enterprises, reveals that generative AI integration is among the top three business priorities for 81 per cent of Australian C-suite executives.
The study found that 50 per cent of organisations currently have a clear and defined generative AI strategy, while an additional 42 per cent are in the process of developing one. CEOs are seen as most responsible for ensuring the successful integration of generative AI, followed by Chief Information Officers (CIOs) and Chief Technology Officers (CTOs).
Executives cited enhanced productivity (43%), innovative customer and employee experiences (42%), and obtaining a competitive edge in a dynamic market (41%) as the main motivations behind the adoption of generative AI. These driving factors illustrate the multifaceted benefits companies aim to achieve through the integration of AI technologies.
Regarding the potential areas for positive impact, respondents identified information technology (41%), operations (35%), customer service (31%), and marketing (29%) as sectors likely to benefit most from generative AI. Despite the anticipated advantages, the research also noted significant barriers to adoption. These include accessibility and inclusivity (31%), generative AI producing inaccurate outputs (31%), and the use of incomplete customer or company data to train AI models (30%). Concerns over data privacy and security (28%) and the use of outdated public data (25%) were also highlighted as critical issues.
Jeremy Burton, Chief Technology Officer of hipages Group, expressed optimism about the potential of generative AI, particularly in enhancing customer service experiences. "One of the reasons we recently expanded our agreement with Salesforce to include Einstein 1 was to use it to unlock the potential of generative AI across our business," Burton remarked. "With Einstein's generative AI, we're excited about how it will help us create a better experience for our contact centre team, especially with how they engage the most important stakeholders on our platform: our tradies."
Frank Fillmann, General Manager for Australia and New Zealand at Salesforce, also emphasised the urgency and competitive pressure faced by business leaders in integrating AI technologies. "The race is on to embrace generative AI and do it well, and that is nowhere more clearly felt than among business leaders," Fillmann noted. "That's why we're delivering the generative AI that gives customers the higher productivity, value customer relationships, and margins they expect."
Fillmann also underlined Salesforce's commitment to ensuring data security and trustworthiness through innovations like the Einstein Trust Layer. "Customers need the confidence that their data is secure and trustworthy. That's why we developed the Einstein Trust Layer which lets customers get the benefit of generative AI without compromising their data security and privacy controls," he said.
The survey reflects a broader trend among Australian businesses striving to leverage AI to improve productivity and maintain a competitive edge, as enterprises navigate the rapidly evolving technological landscape. As companies continue to explore the applications and benefits of generative AI, the importance of a clear strategy and responsible innovation remains paramount.
