Cloud platform analytics vendor Alteryx has published an enlightening independent study outlining the primary AI applications that will play a paramount role in shaping future enterprises. The research, entitled 'Defining the Enterprise of the Future', consulted 2800 IT and business decision-makers from around the globe to sketch out the flow of the impending three years, detailing the mode of operation for businesses in an era governed by AI-enabled intelligence.
According to the press release, Heidi Badgery, Managing Director, ANZ at Alteryx, said that "the key to thriving in an AI-driven future lies in balancing cutting-edge technology with strong data governance and ethical frameworks, as well as building a multi-skilled workforce." Alteryx's latest findings further highlight that Australian business leaders are highly attuned to this balance. As they continue to recognise the promise of AI, these leaders are also fostering a regulatory climate that encourages its responsible use.
The research also identifies business investment, innovation and regulatory alignment as key factors in shaping the future of enterprises. A notable 64% of Australian business leaders expect their investment in advanced technology to increase, surpassing the regional average of 59%. AI is making its mark, with 86% reporting that it is already influencing their organisation's potential success. Still, 51% intend to invest in advanced AI technologies in order to effectively navigate the shifting market landscape.
Heidi Badgery further remarked that "building a strong foundation for generative AI requires an enterprise-wide focus on data-driven decision-making with employees empowered with secure, accessible, self-service analytics and automation tools." AI is predicted to proliferate across all sectors, raised by 55% of respondents. Still, vital ethical questions surrounding data governance, privacy, and transparency have become particularly urgent. Australian business leaders overwhelmingly believe that regulations and standards surrounding AI usage, including generative AI, should be developed within their sectors to promote responsible AI integration and mitigate the potential for legal and ethical complications.
Fears around necessary regulation aside, the study reveals AI's significant impact on the essential skillsets of future enterprises. While most businesses envision an AI-driven enterprise future, more than 31% perceive the escalating volume and diversity of data as the key threat. In preparation for a more complex data-oriented future, companies underscore the importance of digital transformation, particularly focusing on AI and machine learning. They are also seeking to build a multi-skilled workforce and leverage AI-fuelled automation to augment work processes. This has driven a marked shift in employment strategies, with 76% of Australian business leaders prioritising multi-skilled employees over specialised talent. The changing job landscape elevates the significance of both hard skills like AI and ML and soft skills like creativity, time management, and strategic thinking.