The Honorable Minister for Industry and Science, Ed Husic MP of Australian Government, puts emphasis on free AI training and proper business advices to small-and-medium Australian business organizations and establishments as per his media release on May 2024. This is in lieu of the fact that the AI tools can be excellent adversaries that can help the prospering of small-and-medium Australian businesses. Thus, Australian small-to-medium businesses can now get expert advice on the safe adoption of Artificial Intelligence into their business operations. For this purpose, four AI adopt centres will get established within a budget, which comes about 17 Million AUD. These AI adopt centres will form the forefront that connects Australian businesses with proper AI expertise.
The four AI adopt projects get operated by Boab AI adopt centre, Digital Transformation Australia, elevenM, and RedGrid Internet of Energy Enterprises. As per our understanding at Seaford, these four AI adopt centres got chosen through a competitive grant process. Each of these centres get slated to target small-and-medium businesses in the high-priority areas of National Reconstruction Fund of Australia. All these centres aim to demonstrate the ways by which AI modernizes businesses to boost productivity and revenue generation. A clear guidance will get given to all businesses on how to adopt AI safely and efficiently. The AI adopt centres will get conditioned to complement the National Artificial Intelligence Centre while participating in the Responsible AI network. It forms the foundation, crux, and fulcrum of delivering Artificial Intelligence through intelligent Artificial Intelligence consulting like we do at Seaford as part of delivering our Artificial Intelligence services to Australian small-and-medium businesses.
With proper measures from Australian government, AI will get adopted by many small-and-medium business organizations and establishments in Australia.
Affordable AI tools and platforms readily available for Australian SMEs
As per our understanding at Seaford, affordable AI tools and platforms will become readily available for Australian SMEs. The AI adopt centres will help them out with proper aid from the Australian government. Recently CSIRO (Commonwealth Scientific and Industrial Research Organization), the federal government agency for scientific research in Australia, reported that almost 65 to 68% of Australian SMEs have adopted AI through implementation of technologies with a further 20 to 23% of businesses following suit in the near future.
The Australian SMEs that have adopted AI have reported a rise in their revenue. With AI adoption, the revenue of SMEs escalated up to an average of 500,000 AUD just from customer bots that enhance a streamlined customer-experience through around-the-clock support. It in-turn improved response times and personalized product recommendations. Thus, the AI helps Australian SMEs through anticipating product demands, which helps the businesses to adjust their supply chain accordingly. So, it mitigates the costs of overstocking or under-stocking in these SME business enterprises and organizations. The adoption of AI helps with automation of administrative processes in SMEs, which reduce menial tasks that reflects in time-saved and improved labor productivity.
AI for Australian Retailers
Many Australian retailers have adopted AI into their SMEs. As per our understanding of Australian retail business at Seaford, around 40 to 44% of Australian retailers have invested in AI and automation. Here, the top five use cases include improving employee and customer experience, enhancing the customer online experience, predictive analytics, proper handling of customer service inquiries, and apt content creation. Retailers have embraced the Artificial Intelligence technology to improve their businesses through increased revenue generation and an escalation in their productivity and brand value. The Australian Retailers Association (ARA) has embraced AI with both hands. AI is transforming the way people shop through discovery, conversation, inventory, fulfillment, and trust. Many AI tools help retailers with automation of their businesses, which makes them more competitive in the Australian marketplace.
AI for Australian Manufacturers
The AI technology has quantified the playing field for Australian manufacturers with an enormous opportunity worth 5 Billion AUD as per our research at Seaford. The emergence of generative AI offers Australian manufacturers an exciting opportunity to grow as advanced manufacturing powerhouses. SMEs that are ready with up-skilled employees have the edge here.
AI for Professional Services
Generative AI is estimated to contribute up to 13 Billion AUD annually to Australian professional services and financial services as per the report by Microsoft. The report was created as the collaboration between Microsoft and the Tech Council of Australia. It improves the scope of many Artificial Intelligence Consulting services as provided by us at Seaford. We rely on offering the best Artificial Intelligence Services through which we facilitate the cutting-edge delivering of Artificial Intelligence. Unlock the potential of generative AI services with which you improve your professional services that include SME businesses, manufacturing sector, retail sector, and financial services. Focus on recruiting up-skilled employees who can drive your business forward to better revenue generation through AI.
Conclusion
Visit www.seaford.com to know and learn more about AI technology and how it can get integrated into your businesses.
