A total of 65 per cent of Australians believe that artificial intelligence (AI) systems will help them solve problems faster.
That is according to IDC's market analysis perspective on cognitive and AI opportunity across outsourcing and project-oriented services in Asia Pacific excluding Japan (APeJ).
The analysis also showed that 35 per cent of Australian respondents believe that AI systems will put their jobs at risk.
Insights from IDC C-suite barometer survey confirm that ANZ C-level executives are seeing cognitive and AI as a key technology initiative to offer them a competitive advantage, according to IDC.
The research firm said that some barriers to adoption remain, especially a lack of relevant skill sets and governance, plus regulatory implications in light of General Data Protection Regulation (GDPR) legalisation in Europe.
“Spending on AI/cognitive services is forecast to grow at a 78 per cent five-year compound annual growth rate (CAGR) in APeJ with the highest focus on enterprise applications (e.g. ERP) upgrades to include cognitive/AI functionality," IDC Australia research director, Annemarie Kikos, said.
Of all the respondents, 70 per cent believe their company’s data strategy, including management, access control, availability and quality, needs to be adjusted to fully utilise AI technologies.
The study also showed that 32 per cent of companies in Australia and New Zealand claimed they have data scientists in the organisation.
There is also a trend that sees robotic process automation (RPA) and conversational AI as key focus topics with 24 per cent of organisations deploying chatbots or automated conversational interfaces in the next 12-24 months, according to IDC's study.
“We have looked at the various buyer perspectives with the quality of the data results perceived as top criteria for organisations considering cognitive/AI solutions purchases," IDC Asia Pacific vice president, Chwee Kan, said.
“We are also seeing a preference for new spending rather than leveraging existing investments."