Company Interview / Why Australian businesses need to adopt AI

Kim Oosthuizen from SAP (ETR: SAP) shares insights on the growing adoption of generative AI among Australian mid-market businesses, with 90% prioritising its integration. She highlights AI's role in sectors like finance, healthcare, and grocery shopping, enhancing efficiency and decision-making.

Kim emphasises the value of AI in cyber security, particularly in fraud detection for banks. She notes Australian mid-market firms (150-1500 employees) significantly boost productivity through AI technology, transforming data analysis and predictive analytics into strategic tools.

SAP integrates AI into its products for supply chain, finance, and decision-making improvements. Kim foresees AI adoption to keep rising but stresses it needs to be treated as a business endeavour requiring collaboration across organisations.