Adoption of Artifical Intelligence by Australian Companies
Quite simply, Artificial Intelligence (AI) is the term widely used today in refence to machines, or other automated software programs that can adapt and operate independently of human interaction. Ultimately, managing tasks that previously required manual intervention by one or more human beings. In the last few years the business community has accelerated spending on research and development projects in respect to AI. Leading figures in the business world recognize that Artificial Intelligence is here to stay, and that those firms who are late to adopt these changes risk being left behind in their respective fields, in favor of more innovative, early movers.
So, are Australian businesses lagging-behind in the AI space? One recent study suggests that less than 9% of Australian firms is actively pursuing a local AI strategy. In the US and some parts of Northern Europe this figure is closer to 20%. So, if these figures can be relied upon then it is clear than the Australian business community has some way to go in this area.
However, the news is certainly not so grim. Australia remains home to some of the most exciting and innovative tech startups operating in this space, and with a steady pool of engineering talent flowing from Australia’s leading universities AI awareness and technological prowess will continue to evolve in this arena. At this stage it is safe to assume that many important advancements in the AI world have yet to be identified so it is a space to watch with keen interest.
Robobai is one such example of an Australian owned, and operated AI technology startup that is driving change amongst Australian Businesses. Robobai merges Artificial Intelligence (AI) with traditional procurement best practices, providing corporate businesses with a comprehensive spend analytics framework that transforms the process of procurement management. Using the Robobai platform CPO’s can analyze spend data across their entire organization, combining this information with external supplier data, historical performance and industry wide insights. Creating, a blueprint for change that can be applied group wide. Robobai is quite literally transforming the way procurement is managed amongst leading Australian businesses. Red Sky Digital is currently a strategic software development partner for Robobai and is helping these guys transform the SaaS procurement landscape.