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Analytics cloud company Alteryx has released findings from new independent research revealing the key artificial intelligence (AI) plays that will shape enterprises of the future.
The research, titled Defining the Enterprise of the Future, uses data from 2800 IT and business decision-makers globally to draw the three-year roadmap for how enterprises will operate in an era of AI-delivered intelligence.
Innovation is naturally playing a key role in shaping the future of enterprise. Nearly two-thirds (64%) of Australia business leaders say their investment in advanced technology will increase, above the regional average of 59%.
Nearly 9 in 10 (86%) say that AI is already impacting what their organisation can achieve, while 51% state they will invest in advanced technologies such as AI to respond to the changing market environment.
AI is clearly making its way across the enterprise, with 55% of respondents expecting that the use of AI will be pervasive across all sectors and business functions.
Yet, this has raised some important ethical considerations around data privacy (63%), data governance (39%) and transparency (37%), which has shifted the narrative around regulation – moving from being a dirty word to becoming a hot topic for businesses.
As such, most Australia business leaders (91%) believe that regulations and standards around AI usage – including generative AI – should be developed within their sectors as it continues to transform the business landscape.
Nearly 9 in 10 (88%) believe that such policies would help businesses implement AI responsibly, and more than half (56%) worry about the possibility of legal and ethical consequences from not having an ethical AI framework in place.
Despite concerns around regulation, AI is significantly impacting the key skill sets of the future enterprise. While most businesses envision an AI-driven future for the enterprise, more than 3 in 10 (31%) see the increasing volume and variety of data as the biggest threat to achieving this.
To be prepared for this increasingly complex, data-driven future, companies see a need to get their digital transformation right, especially around AI and machine learning (25%), build multi-skilled workforce (22%) and leverage AI-driven automation to augment work processes (22%).
The employee of the future is a generalist, working with different tools and languages and perhaps developing a range of leadership and soft skills along the way.
According to the research, more organisations are moving away from hiring people who are highly skilled in a single area of expertise towards hiring people who can contribute across a range of functional areas.
More than three quarters (76%) of Australia business leaders state that it is more important for their employees to be multi-skilled than specialised in one area.
While hard skills in areas such as AI and ML (29%), as well as business strategy and planning (29%) continue to be important, there is now a higher demand for soft skills like creativity (27%), time management (25%) and strategic thinking (22%).
Having the right AI tools will help these employees manage the increasing volume and variety of data and find the competitive edge their organisations need.
“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. Our research shows that leaders in Australia are acutely aware of this balance. As we embrace AI’s potential, fostering a regulatory environment that promotes responsible use is paramount,” said Heidi Badgery, Managing Director, ANZ at Alteryx.
“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,” Badgery said.
