Priority #4: Emerging technologies and the ethics and issues that arise when implementing
A key advantage of cloud is that it allows progressive organisations to adopt new, innovative technologies – like artificial intelligence and machine learning – for distinct competitive advantage.
AI alone has been proven to enhance an organisation’s productivity by 40%, and by 2025, the global AI market is expected to be worth almost $60 billion.6
“Cloud services are changing business models, facilitating a more innovative and dynamic way of working, and are a foundational technology unlocking the next wave of technologies, from artificial intelligence to the Internet of things and robotics,” says a recent Deloitte report on the economic value of cloud in Australia.7
However – despite the advantages, embracing these technologies comes with some significant challenges. Firstly, there’s the importance of ensuring technology isn’t just adopted for ‘technology’s sake, but in a way that has a clear, measurable, and strategic benefit for the business. For many organisations, there are also ongoing challenges around ethics, compliance, and governance – especially with regards to how data on customers and employees is captured, stored, used, and maintained. Also, ensuring that the organisation has the skills in-house to effectively implement and manage new and ever-evolving technology – especially given the current IT skills shortage – is a major difficulty.
“Creating a sophisticated AI solution from scratch requires considerable time and skill. Businesses may have an innovative idea that requires AI, but not enough programmers to bring that idea to reality,” says the Deloitte report.8
How to meet your CEO’s priorities:
- Before implementing any new technology, create a solid strategic plan that indicates how the technology maps to the business’s overall objectives and how it will enable innovation in relevant ways.
- Leverage cloud services to fast-track innovation by utilising work that’s already been done in areas such as AI, rather than developing applications from scratch.
- Seek expert guidance regarding specific compliance and governance requirements for your industry and location.
- Consider an outsourced partner that can provide specific skills and insights relating to particular technologies and their adoption.