Big corporates are likely to lead the way in adopting new-age technology such as AI, data analytics, and cybersecurity solutions for improving their bottomline, a report said.
The demand for technologies such as AI, data analytics, and cybersecurity solutions is expected to grow significantly and larger businesses are likely to lead the way in adopting these tools, given their greater capacity for investment, as per the latest Business Technology Report published by CPA Australia.
The report highlighted numerous benefits that technology adoption brings to business, particularly in improving cybersecurity and the customer experience, and enhancing employee skills and satisfaction.
It also emphasised the importance of integrating technology to address emerging challenges, particularly in ESG.
"Businesses should focus on expanding their use of technology to monitor emissions, improve supply chain transparency, and engage with stakeholders effectively. This will not only enhance operational efficiency but also assist compliance with evolving regulatory requirements," it said.
To accelerate technology adoption, it said, businesses need access to affordable and user-friendly solutions tailored to their specific needs.
Governments should therefore consider policies that reduce financial barriers and provide incentives for adopting advanced technologies, it said.
Upskilling employees through training and mentorship is also essential to address the shortage of skilled professionals, it added.