Australian enterprises are in the midst of a wave of technology adoption driven by the desire to stay relevant through creating new products and services, according to a new study from emerging technology analyst firm Telsyte.
The Telsyte Australian Emerging Enterprise Technology Study 2017 reveals that more half of organisations are currently undergoing large scale IT transformation leading to widespread investigation, planning and roll out of emerging technologies.
Telsyte undertook a detailed analysis of nine emerging technology areas to better understand the rapid growth in adoption of transformative technologies by Australian organisations.
The Telsyte Australian Emerging Enterprise Technology Study 2017 includes coverage of:
- Internet of things (IoT)
- Artificial intelligence and automation
- Voice commands
- Advanced networks: From fibre to 5G
- Personal computing and collaboration
- High performance computing
- Virtual, augmented and mixed reality
- Blockchain and cryptocurrencies
- Mobile payments and NFC
Enterprise IoT has quickly become mainstream
Most IT leaders predict they will have five to ten times as many connected devices in their organisation within five years. This boom in both end-user devices and industrial machines such as sensors and cameras is creating massive volumes of data which can be used to enhance productivity, modernise processes and help leaders make better strategic decisions.
Nearly 90 per cent of Australian CIOs see IoT becoming important or critical to their organisation within five years. Nearly a quarter (23 per cent) of organisations are in the test, development or the production phase of IoT. Early adopters are showing positive ROI with 59 per cent claiming costs saving from using IoT technologies, and 30 per cent claiming increased customer satisfaction.
The biggest barriers are the costs of rolling out IoT solutions and legacy IT infrastructure requirements. Two-thirds or more see a positive role for IoT in operations and IT, but there is also a similar level of interest for customer service and marketing applications.
“IoT gives organisations an opportunity to overhaul their systems and modernise processes, the challenge is doing this while maintaining legacy systems,” Telsyte Managing Director, Foad Fadaghi, said.
“A complete overhaul is often required with IoT creating barriers for organisations which are not yet at the right phase to make large scale investments.”
Growing interest in using artificial intelligence, machine learning, and automation
The use of artificial intelligence and automation technology in the enterprise is increasing steadily as options continue to grow for everything from physical robots to digital assistants and chatbots. Nearly two-thirds of businesses are already dabbling with machine learning or deep learning to improve operations or influence business decision making.
Finance is considered an important beachhead with 65 per cent of CIOs seeing use cases for machine learning in financial modeling and fraud detection. But many organisations are also seeing the customer as an important front for AI. Nearly two-thirds of organisations intend to use cognitive computing in some form, including customer-facing apps such as chatbots.
“AI intentions are running at two speeds in the Australian market, with businesses much more bullish about using automation technology than consumers,” Fadaghi said.
“There is an undercurrent of fear in the average consumer about the impact of AI on jobs and future prospects for later generations in a highly automated world.”