AI disruption leads as Quantum Computing gains momentum in ANZ

According to recent research by global IT services enterprise HCLTech, artificial intelligence (AI) is currently leading disruption trends, specifically in the field of generative AI (GenAI). However, the study also predicts Quantum Computing, Confidential Computing, and Green IT will significantly influence digital transformation in Australia and New Zealand over the coming year.

The 2024 Tech Trends Report from HCLTech offers a comprehensive evaluation of the technologies expected to assist modern businesses in staying ahead in their respective fields. The study identifies disruption caused by AI, particularly GenAI's ability to generate data, the incorporation of sustainability practices like Green IT, and advancements in quantum computing, as trendsetters affecting digital transformation in Australia and New Zealand this year.

Kalyan Kumar, Chief Technology Officer and Head of Ecosystems at HCLTech said, "As we navigate another year of digital evolution, a range of emerging technologies are set to transform the ANZ business environment in ways we've never seen before. We are committed to propelling digital transformation journeys for our clients by analysing and discerning new technology trends that will help enterprises be future-ready and build resilience to thrive in their industries."

The report notes GenAI's role in disrupting AI, with 55% of the interviewed tech leaders believing GenAI is causing a significant disturbance. It predicts GenAI has the potential to contribute AUD $119 billion annually to the global economy by 2032, opening opportunities for AI technologies within businesses, especially as the Australian government recently announced an AUD $101.2 million investment in AI integration for 2023-24.

HCLTech's study registered a noteworthy adoption of sustainability. With the anticipated introduction of the Australian Sustainability Reporting Standards (ASRS) for the 2024/25 financial year, 59% of respondents believe Green IT will contribute significantly to achieving higher corporate sustainability goals. Moreover, given that its market size is projected to reach AUD $42.9 billion by 2028, Green IT is inevitable for businesses seeking to reduce energy consumption and carbon footprints.

Quantum technology is another domain where HCLTech's research signalled a pivotal turning point. Even though Quantum technology has a smaller projected market size of AUD $5 billion by 2030, approximately 72% of respondents believe Quantum Computing and Quantum Machine Learning will play a crucial role in the next one to two years. The National Quantum Strategy also suggests that by 2030, Australia will be recognised as a leader in the global quantum industry, contributing to a prosperous, fair, and inclusive Australia.

The Tech Trends report by HCLTech, now in its eighth year, surveyed 40,000 participants at the consumer level and 74 technology leaders at the professional level to determine the adoption of significant technology trends. Having been operational in Australia and New Zealand since 1999, the firm currently employs more than 2,400 employees across these two countries. It provides distinct capabilities centred around digital, engineering, and cloud services across various verticals globally.