New research from ‘Genpact, AI 360: insights from the next frontier of business’, has found that Australians are behind its counterparts in the US and UK when it comes to embracing artificial intelligence.
Only 43 per cent of Australians believe AI is improving their lives, compared to 48 per cent of UK consumers, 59 per cent in the US and 53 per cent of consumers globally.
Genpact Australia’s country manager Richard Morgan said AI would grow in Australia despite people’s fears around the technology.
“Many companies already see AI’s benefits, and we expect to see this grow in Australia as more businesses learn from the early adopters, and as more customers and employees better understand the benefits of AI on their lives.
Almost all of Australian executives surveyed, 99 per cent, said their company planned to implement AI-related technologies over the next three years.
The three reasons cited for this was to give more time to employees to focus on tasks, to improve customer experiences and create greater inter-departmental collaboration.
However, this contrasts with the survey that found that 70 per cent of Australian consumers did not want companies to use AI that intrudes on their privacy, even if the goal is experience optimisation.
Mr Morgan said Australians were worried about privacy issues with AI as well as AI bias and the impact it had on the workforce.
“People still worry about such issues as AI bias and privacy, and fear AI’s impact on jobs. These doubts send clear signals about what companies must address to achieve greatest business impact from AI,” he said.
Eighty-four per cent of Australians said it was important that companies reduce AI bias; thirty-one per cent of Australians believe AI threatens their jobs and 56 per cent worry it threatens the jobs of future generations.
Globally, 28 per cent of people believe AI threatens their jobs and only 46 per cent believe it threatens the jobs of future generations.
Mr Morgan said these views would shift over time, already 69 per cent of Australians expected to see AI benefits in the workplace.
“People still worry about such issues as AI bias and privacy, and fear AI’s impact on jobs. These doubts send clear signals about what companies must address to achieve greatest business impact from AI,” he said.
Mr Morgan said their research showed it was important that companies educate consumers and employees about AI’s potential and continue to trial it in their workplace.
“As AI becomes more embedded in our professional and personal lives, it’s vital that business understand lingering doubts. Executives must educate their employees and customers about AI’s potential, and provide them with tools to take advantage of its benefits,” he said.
