New research conducted by HubSpot, reveals that Artificial Intelligence (AI) could save the Australian workforce two days per week, as national levels of burnout increase amidst falling productivity levels. This groundbreaking research highlights the significant role AI is starting to play in Australian sales and marketing sectors.
The strategic usage of AI in various industries has revealed a noticeable gap in productivity in Australian workplaces. Current reports indicate that the GDP per hour worked across the year has dropped 3.6% and rests back at 2016 levels. However, the successful integration of AI could directly lift the global GDP by an impressive 7% according to Goldman Sachs. This study was conducted in collaboration with YouGov to explore attitudes and experiences with AI here in Australia.
The research provides interesting insights into the potential savings this technology can offer. On average, Australian marketers anticipate they would save around 2.9 hours per day using AI tools to create marketing content, while sales professionals expect a saving of around 2.6 hours per day. Interestingly, 91% of marketers believe that using AI tools would save them time, while 86% of sales professionals affirm that AI tools have already made them more productive at work.
However, it’s not just about time savings, businesses are also profiting from increased effectiveness and personalised content, thanks to AI. Among the respondents, 76% praised AI tools for their effectiveness in creating more personalised content. All these factors imply a strong connection between increased adoption of this technology and the potential deepening and scalability of connections between customers and businesses.
Despite the evident benefits, one of the biggest challenges to harnessing the full potential of AI has proved to be a lack of adequate training. Sales professionals and marketers found it challenging to prompt AI tools to achieve their desired results, with 35% struggling with this issue. Interestingly, while about a third found AI occasionally yielded inaccurate information, just over 30% simply did not know where to start with AI tools.
AI is set to make a significant impact, with recent research from Microsoft and Tech Council of Australia revealing that AI could contribute as much as $115 billion a year to Australia's economy by 2030. However, small businesses lag behind with AI tool adoption, 54% compared to larger organisations' 66%. This presents an opportunity for small and medium businesses to compete on level ground. There's the prospect that resources, which once required time, money and deep expertise no longer do, potentially closing the gap between enterprises and SMEs.
HubSpot's Vice President and Managing Director, JAPAC, Dan Bognar, expressed his view on the AI revolution. He said, "Streamlining content creation and increasing effectiveness in the sales function is just the tip of the iceberg, its what’s underneath that makes the opportunity truly mind-blowing. AI is levelling the playing field and putting the sling shot into the hands of the SMB community."
Indeed, AI is no longer an impending disruptor but a present reality which has seen the launch of AI-powered tools like HubSpot AI. Early examples show how AI can boost productivity, improve conversion rates, and create deeper connections with customers.