News 13th November 2024

Welcome to the AI in Business podcast. 

In this show we talk about how leaders and entrepreneurs can benefit from not only the implementation of AI, but also the innovation and growth in creative thinking that comes with it. At Aimegos we have seen time and time again how this growth in creativity creates results that directly impact on your bottom line—in a very positive way. 

I'm your host, Lee Hopkins. Today we have some news that will be of importance to you and the team of creatives you assemble to figure out why and how you are going to implement AI.

 

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Global AI market value surpasses $196 billion, projected to grow 13x in 6 years
The AI industry is experiencing explosive growth, with the global market now valued at over $196 billion and expected to increase by more than 13 times in the next six years. This rapid expansion presents significant opportunities for Australian businesses to leverage AI technologies, potentially boosting productivity, streamlining operations, and gaining a competitive edge in the global market.

Netflix generates $1 billion annually from AI-powered recommendations
Netflix’s use of AI for personalised content recommendations is generating $1 billion in annual revenue. This demonstrates the substantial financial impact that AI can have when applied to customer experience and engagement. Australian businesses across various sectors can learn from this example, exploring ways to implement AI-driven personalisation to enhance customer satisfaction and drive revenue growth.

AI adoption by organisations set to expand at 36.6% CAGR between 2024 and 2030
The rapid growth of AI adoption by organisations is expected to continue, with a projected compound annual growth rate (CAGR) of 36.6% from 2024 to 2030. This trend underscores the importance for Australian business leaders to stay informed about AI developments and consider how they can integrate AI solutions into their operations to remain competitive in an increasingly AI-driven business landscape.

Japan unveils $65 billion plan to boost chip and AI industries
The Japanese government has announced a $65 billion investment plan to strengthen its semiconductor and AI industries by 2030. This significant commitment highlights the growing global focus on AI and related technologies. Australian business leaders should take note of this trend, considering how they can position their companies to benefit from similar initiatives and potential partnerships in the Asia-Pacific region.

83% of APAC C-suite executives rank generative AI among top three business priorities
A recent study reveals that 83% of C-suite executives in the Asia-Pacific region consider generative AI as one of their top three business priorities. This widespread recognition of AI’s importance in the business world emphasises the need for Australian leaders to educate themselves about generative AI and explore its potential applications within their organisations to stay competitive in the regional market.

Google Maps receives its biggest AI update, enhancing navigation and exploration features
Google has implemented its largest-ever AI update to Google Maps, introducing more complex query capabilities and AI-curated answers for location-based questions. This development showcases how AI is transforming everyday tools used by businesses and consumers alike. Australian entrepreneurs and executives should consider how similar AI enhancements could improve their products or services, potentially opening new avenues for innovation and customer engagement.

 

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Well, that wraps up this episode of the AI in Business podcast. Subscribe to our podcast on your platform of choice and we'll jump into your feed in a week's time. 

Until then, take some risks because you never know what will pay off, and let us help you revolutionise your business with people-first AI. Until next week, bye...