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SECTION 1: LEADERSHIP | 10 However, in our survey: While these challenges are not insigni昀椀cant, • Only 0.81% of respondents mentioned the potential rewards of AI integration could that their organisations have fully be substantial. A recent Boston Consulting integrated AI. Group (BCG) analysis of a number of ASX100 companies suggests that AI integration has % • 36% said that AI is not a signi昀椀cant 36 consideration for their organisation. the potential to generate $100 million+ in No incremental EBITDA (earnings before interest, 13 Integrating AI into an organisation is not tax, depreciation, and amortisation) . straightforward, which might be why AI The BCG researchers also highlighted adoption and consideration rates are so low studies showing that AI integration has among our survey respondents. Successful AI resulted in enhanced organisational culture, 14 integration means navigating through myriad collaboration, and customer experience . challenges, such as: They concluded that for businesses, “AI is not a choice – it’s an imperative.”15 • Managing data security and privacy risks • Addressing AI skills shortages To get started on integrating AI into your • Handling ethical and regulatory organisation, Steve Smith recommends considerations testing various applications, establishing • Ensuring interoperability with existing policies, and providing proper staff training. IT systems “Begin by trialling the technology in parts The graphic below outlines the top three of your organisation that you think could challenges of implementing AI according bene昀椀t the most. You’ll need to set some to the organisations in our survey that have ground rules 昀椀rst. Develop AI policies that started the process. align with your IT policies and also make sure that staff have adequate training.” 1. Lack of understanding about “Here at AIM, we’re all about helping how AI can enhance decision- individuals build skills that make them making processes (54%) more capable. For example, our one-day training program, AI is My Co-Pilot, is the 2. Dif昀椀culty in identifying perfect entry point to understand the AI suitable AI applications for tools currently available, how to get the tasks (43%) most out of them, and what to watch 3. Insuf昀椀cient budget allocation out for.“ for AI implementation and training (39%)