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Generation AI: Ready or not, here we come!

Deloitte Access Economics & AI Institute report


Our new report Generation AI: Ready or not, here we come! uncovers insights and actionable advice from the Deloitte AI Institute and Deloitte Access Economics, following in-depth research with over 2500 Australian students and employees, in addition to academic research reviews.

So why are we publishing this report, and why now? Because November 2022 marked a watershed moment for AI and since then we've seen a deluge of research on Gen AI. However, global research has mostly focused on business use and adoption of Gen AI, and Governments’ response to it ... and a key perspective has been missing: Generation AI.

This new Australian research shines a light on Generation AI – digital natives who’ve grown up with smart devices and other AI-powered tech – who are increasingly using Gen AI to improve the way they study, work and live. This cohort is either just entering the workforce now or soon will be and they are set to shake up how businesses use Gen AI. Their familiarity with emerging tech and digital fluency is strikingly evident, with 58% of students telling us they’re already using Gen AI to understand new information better – and they’re almost twice as likely as employees to use Gen AI. They are set to shake up how businesses use Gen AI. Are you ready?

For the first time, this research reveals the Digital Disruption Map, charting the industries and sectors in the Australian economy which are set to be rapidly and significantly disrupted because of Gen AI. With over $600 billion of anticipated economic activity facing Gen AI disruption right now, it is time for organisations to explore how they can harness the power of Generation AI to drive productivity, fuel innovation and unleash growth.

Generation AI is here, are you ready? Download the report to explore the research, reveal six key insights and seven ‘no regret’ moves that businesses can make to disrupt with confidence, rather than be disrupted.

Read the report to explore the research, reveal six key insights and seven ‘no regret’ moves that businesses can make to disrupt with confidence, rather than be disrupted.

Point of view from our leaders:

The Australian Gen AI report offers fascinating insights, but for me, it begs the question: what does this mean for Africa? As Deloitte Africa's Chief Digital & Innovation Officer, I believe the answer is nothing short of transformative.

Firstly, the report highlights the democratisation of AI. This is music to Africa's ears. We've long been on the receiving end of technology developed elsewhere, often ill-suited to our unique needs. Gen AI, with its user-friendly tools and access to advanced computational power, levels the playing field. Suddenly, the power to create solutions for African problems lies in the hands of Africans.

Imagine the possibilities:

  • Large language models trained in local languages: Chatbots providing vital healthcare information in rural villages, or educational resources tailored to specific cultures.
  • Self-learning algorithms tackling poverty: Analysing vast datasets to identify patterns and predict economic hardship, enabling targeted interventions.
  • Reinventing education: Personalised learning experiences, overcoming geographical barriers, and nurturing a generation equipped to solve our continent's challenges.

This brings me to the report's first key point: Generation AI is leading the charge. Africa boasts the youngest population in the world, brimming with digital fluency and a natural affinity for technology. This is our Generation AI, ready to be empowered and equipped with the ethical frameworks to wield this power responsibly.

But it's not just about the youth. The report's concerns about disruption and anxiety resonate deeply. We must address them head-on. Businesses need to upskill their workforce, embrace a culture of experimentation, and foster collaboration between generations. Leaders must build trust by design, ensuring ethical AI that benefits all.

The Australian report may paint a picture of disruption, but for Africa, it's a canvas of opportunity. We have the youthful energy, the local knowledge, and now the accessibility to advanced tools to paint a future where AI empowers, not displaces. It is our job to seize this moment, together, and build an Africa that not just adopts, but owns the Gen AI revolution.

The time for waiting for solutions from elsewhere is over. Africa has the power to create its own, powered by its own people, shaped by its own needs. Together, let’s harness the power of Gen AI to create a future that is not only prosperous, but equitable and truly African.

GenAi has seen explosive growth since being pushed into the spotlight in November 2022, and has the power to change the game and disrupt both established and startups alike.

The technology has opened up a great opportunity for African firms to make a step change across their organisation and we have already seen universities and especially the younger generation embracing GenAi in their daily lives (including studying, work, and personal).

It is imperative for C-suite, executives to not be left behind and to understand this technology to ensure that they understand both the opportunities and risks involved with this new technology.

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