TL;DR :
The AFR conference in Sydney brought together experts to discuss Australia's potential in leading with Artificial Intelligence (AI). Key points include the urgent need for AI adoption to reach net-zero by 2050, with Australia ranking high in AI research but low in implementation, especially in Small and Medium Enterprises (SMEs) due to a digital skills gap. AI's transformative potential in healthcare was highlighted, indicating significant improvements in diagnostics and patient care. The discussion emphasized the imperative for businesses and the workforce to embrace AI, addressing issues like the absence of specific AI regulations. The conference underscored AI as not just a technological leap but also as a cultural and regulatory journey towards innovation, efficiency, and future competitiveness. ai summit
Yesterday, I had the privilege of attending the enlightening AFR conference held at the Fullerton Hotel in Sydney, where leading minds converged to discuss the unfolding landscape of Artificial Intelligence in Australia. The discussions highlighted a crucial narrative: Australia isn't just at the race; we're poised to lead in strategic sectors if we harness AI smartly.
Bridging the Adoption Gap
Ed Husic, the Minister for Industry and Science, opened the conference with a bold statement that set the tone for the day: to achieve net-zero by 2050, AI automation is non-negotiable. He illustrated a startling contrast—while Australia ranks impressively in the top 10 globally for AI research, we're currently 37th in AI adoption. The last decade saw our productivity wane, but there's a silver lining. AI’s ability to automate the 'dull and dirty' tasks could very well be our ticket to reversing this slump.
The government is aware of the hurdles, particularly for SMEs, however, the crux of successful adoption lies in enhancing the digital literacy and skills of our workforce. There has been a huge change in technological advancements but there is still a skill shortage.
AI in Healthcare: A Game Changer
The conversation took an intriguing turn with Ed Husic touching on the slower uptake of AI in healthcare. Yet, the potential benefits are undeniable—robotics, for example, could revolutionize surgical precision, or a triage nurse who already knows your medical history significantly impacting medical outcomes, particularly in remote and regional areas. Yossi Matias from Google, and later on Aengus Tran, a co-founder of Harrison.ai, further elaborated on using AI for medical screenings, hinting at dramatically reduced wait times and enhanced diagnostic accuracy by as much as 20%.
SMEs at the Forefront of AI Revolution
A panel discussion on ‘the big picture of AI’ shed light on how AI embodies a beacon of hope for SMEs (Small and Medium Enterprises), allowing them to stand toe-to-toe with bigger corporations. However, the adoption rate among SM Es lags due to a gap in AI knowledge amongst employees. It turns out, about 29% of businesses in Australia have embraced AI, while 38% of employees are experimenting with generative AI. 25% of knowledge workers at Microsoft are using GenAI and of those, 68% aren’t telling others out of shame and fear it will reflect poorly on them. It is important that companies encourage the use of AI in a safe and open environment. Three foundations to consider when implementing AI are your data readiness, your data analysis and if team readiness.
I believe that AI will change every job, and those who don’t embrace AI will get left behind; additionally the pressure for CEO’s is mounting, 40% of CEO’s don’t believe their company will be viable in 10 years with their current operations, demonstrating the need for change.
Using AI was compared to the F1, the majority of people have their license and drive their car, but not everyone can race in the F1 – People know how to use AI but implementing successfully is half the battle.
The Regulatory and Future Workforce Landscape
As we delved deeper, the need for robust AI laws and regulations became apparent. With no specific laws currently in place, the suggestion was to adapt existing laws to encapsulate AI use while eagerly anticipating input from regulators to identify and bridge legislative gaps.
Furthermore, discussions around AI and the next-gen workforce brought a resonant message: AI won't replace jobs outright but will shift the landscape towards those who can adeptly leverage its capabilities. The skill gap was evident as 70% of men reported trusting AI compared to only 40% of women—prompting a call to address gender disparities in data and upskill our workforce uniformly.
It’s important that we start having these conversations sooner rather than later to 1) help businesses and 2) so the actual regulators can find the gaps in the law.
Looking Ahead
The myriad discussions and panels underscored a collective realisation: the road to AI integration is as much about technological adoption as it is about cultural readiness and regulatory foresight. For us in the small business sector, this journey towards AI fluency isn’t just about staying competitive—it’s about leading with innovation, embracing new opportunities for efficiency and navigating the future with confidence.
Fear comes from misunderstanding, and as we teach and learn more on AI, employees will understand that jobs won’t be replaced by AI, but will be replaced by the people who know how to leverage AI. The first panel spoke about employees wanting to be upskilled in AI and by doing this companies can add value; showing that employees aren’t scared of the AI revolution and are embracing it. The impact of this is that future employees will have to have a basic understanding of AI the expectation of job quality will be raised; just like it does with every technological advancement.
As AI continues to sculpt the industrial landscape, let us stride forward, not intimidated by the challenges, but excited for the opportunities. With initiatives like AI adoption centres and an emphasis on upskilling, our collective journey with AI looks not just hopeful but revolutionary.
Whether you’re a seasoned tech enthusiast or an AI novice, let’s untangle the complexities of AI together and harness its potential to redefine our businesses. Here at Intelligence Assist, we're committed to walking this path with you—illuminating, supporting, and celebrating every step towards our AI-empowered future.
Let’s roll up our sleeves and make AI not just a tool of efficiency, but a cornerstone of our business growth and sustainability. Just remember, the future isn’t just about adopting technology—it's about adapting to it.
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