AI Maturity Model reveals Australian trends

What's ahead?

Author

Maziar Foroudian
August 06, 2024

Latest Stories

Australian businesses are embracing AI, with high engagement levels and a growing focus on AI investment to enhance operations and competitiveness. While Australia ranks mid-level in AI maturity globally, there is a strong recognition of the importance of AI training and ethical use to drive future success.

Recent statistics show that 7.45% of hospitality businesses may face failure due to economic pressures. Amidst the crisis, family-owned restaurants like Arisun and Butchers Buffet are thriving by adapting their menu, engaging customers through social media, and offering budget-friendly promotions, setting a positive example for the industry.

Amidst concerns over the cost of living, the insights from the NAB Consumer Sentiment Survey highlight a shift towards value-conscious spending among Australians. Consumers are making deliberate choices to save money, with a focus on affordable alternatives and prioritizing value in their purchases, contributing to a rise in business confidence.

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Top stories

Larry Gaynor emphasizes the importance of having the best core team in his book “Take a Chance!”. He shares how his team’s dedication and cohesion have led to success, illustrating the value of loyal employees.

Bendigo Bank warns of a near $940,000 scam targeting an Australian business. Payment redirection scams cost Australians $16.2 million in 2023. Banks introduce measures like NameCheck and a $100 million Scam-Safe Accord to prevent losses.

Australia

Challenging the status quo is more than just a slogan; it requires understanding human behavior and designing effective strategies for change. Anticipate resistance, design to change behaviors, and overcome apathy, overwhelm, and anxiety to successfully enact real change.

Kaboose, a social app founded in Melbourne, is bridging the gap for neurodivergent individuals by offering friendship, mentoring, and employment opportunities. With 10,000 users globally, the platform aims to unlock the potential of this untapped workforce.

Hivery, a retail AI start-up, faces setbacks as its largest local investor devalues its shares to zero and co-founders leave. The company, backed by Blackbird Ventures and Tiger Global Management, focuses on software for retailers.

Australian Economy

Global markets are experiencing bearish panic, causing a rush into safe-harbor bonds. While Australian stocks took a hit, experts are cautious to predict a US economic hard landing and global recession. Subscribe for more insights.

Despite global market corrections and recession fears, maintaining a self-managed super fund with focus on long-term strategies such as cash reserves, asset diversification, quality stocks, and avoiding short-term panic can ensure steady returns.

World

The U.S. Small Business Administration released a Business Resilience Guide to assist entrepreneurs in preparing for and recovering from disasters.

Learn to navigate the challenges of managing IT infrastructure and security in small businesses with the Complete 2024 Microsoft Tech Certification Training Super Bundle. Master Microsoft 365, Azure, and cybersecurity for only $59.97.

Tech

The hollow feeling of toiling on meaningless projects in tech companies like Google and Facebook has sparked disillusionment among workers. The rise of A.I. presents a chance to automate these pointless jobs, reshaping the workforce.

Meta has launched AI Studio, a platform where users can easily create and share AI characters without technical skills. From cooking advice to generating memes, these characters can be personalized and shared on various platforms.

Tape CRM partners with smrtPhone to provide users with a scalable business CRM platform. Features include one-click calling, video calling, and advanced communication options. Learn more about the partnership in a joint webinar on September 4, 2024.

Curated for you

Investing in storage units offers high profit margins and steady cash flow with low operational costs. Understand risks like market saturation and economic downturns, consider location and management, diversify your portfolio, and maximize returns through value-added services and effective marketing strategies.

LinkedIn is a powerful platform for influencer marketing, especially for B2B brands. Success comes from leveraging credibility, engaging content, and human interactions. Future trends include sustainability partnerships and personalized branding strategies.

Content marketers strive for fresh ideas monthly to engage users. National Tailgating, Video Games, CleanUp, and Dog Week offer unique, timely content opportunities. CVS Health's research reports can inspire data-driven marketing strategies.

The key to success in SaaS lies in shipping a strong product, attracting top talent, and adapting to market changes. Without these factors, scaling a business is challenging. Founders must be willing to pivot and evolve to succeed.

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