AI Adoption Accelerates Among Australian SMEs: Latest Insights!

The National AI Centre (NAIC) is tracking how small and medium enterprises (SMEs) are using and approaching AI to better understand the support they require. Their latest data highlights a significant uptick in AI integration among Australian small and medium-sized enterprises (SMEs) during the fourth quarter of 2024.

Key Findings:

• Increased Adoption: 40% of SMEs are now utilising AI, marking a 5% rise from the previous quarter. Notably, adoption among the smallest businesses (1–4 employees) surged from 25% to 34%.

• Declining Unawareness: The proportion of businesses unaware of how to implement AI decreased to 21%, indicating growing familiarity with AI technologies.

• Regional Growth: Queensland and Western Australia experienced significant growth in AI adoption, each increasing to 29%.

• Industry-Specific Trends:

  • Retail Trade: Adoption rose by 8%, reaching 45%.

  • Construction: Saw an 8% increase, totaling 34%.

  • Agriculture, Forestry, and Fishing: Experienced a notable 21% rise, reaching 32%.

• Top AI Applications:

  1. Generative AI assistants

  2. Data entry and document processing

  3. Fraud detection

  4. Marketing automation

  5. Customer support and chatbots

• Business Outcomes: SMEs reported benefits such as faster access to accurate data (22%), improved customer engagement (18%), and enhanced security measures (18%).

Despite the positive trends, SMEs continue to face challenges including skills gaps, funding constraints, and the rapid pace of technological change. While confidence in managing regulatory and compliance issues is growing, there remains room for improvement in cybersecurity readiness and responsible AI implementation.

Supporting Responsible AI Adoption with ORCA Opti

As AI becomes increasingly integral to business operations, it's crucial to implement these technologies responsibly. ORCA Opti offers a comprehensive solution that combines AI capabilities with human expertise, ensuring that businesses not only adopt AI but do so with robust governance and implementation policies.

By leveraging ORCA, SMEs can mitigate risks associated with AI deployment, ensuring ethical use, compliance with regulations, and alignment with business objectives.

Learn how ORCA was developed to support your AI governance and implementation strategies.

For a more detailed exploration of the AI Adoption Tracker's findings, visit the original article by the Department of Industry, Science and Resources: AI adoption in Australian businesses for 2024 Q4

Or get in touch to have a no obligation chat about your AI policies! hello@orcaopti.ai