Australian firms face data hurdles in AI deployment, study finds

Boomi has published its "Data Liquidity Index Study," revealing that while the majority of Australian organisations are deploying artificial intelligence (AI), challenges related to data privacy, security, and quality are impeding their progress.

The survey, conducted by Hanover Research, indicated that 80% of Australian organisations consider data integration a high priority, yet only 6% report being able to access their data without any barriers.

David Irecki, Boomi's Chief Technology Officer for Asia-Pacific and Japan, underscored the importance of data integration in improving operations and providing competitive advantages.

"Data integration continues to be a critical pillar for Australian companies; bringing data together, wrapping the appropriate protocols around it, and leveraging it to improve operations and services drive competitive advantage," Irecki said. "Achieving this state is only becoming more important as AI strategies move from early planning to deployment – the right foundation is essential to ensure these complex automated and generative capabilities are introduced compliantly and without risk."

The study highlights that 75% of companies see data liquidity—efficiently accessing and applying relevant data—as a significant priority. Nonetheless, security concerns are a major stumbling block, with 56% citing managing data privacy and security as a significant challenge, followed by data quality and accuracy issues at 41%.

The report also addressed organisations' primary concerns and priorities in ensuring data liquidity. It found that companies prioritise data backup and recovery, with 74% reporting these systems as crucial safeguards. Firewalls and anti-malware protection were also noted by 61% as essential measures. However, only 27% had implemented incident response plans, suggesting a notable security gap.

"Improving data liquidity is not only integral to deriving value from technology investments, but it also creates a safety net for complex AI projects," stated Irecki. "As an increasing volume of automated and generative tools enter the business, there must be mechanisms to ensure accurate data moves securely throughout an organisation."

Concerning AI usage, the study found that 83% of organisations are using some form of AI, while 17% remain in the experimental stage. Notably, 16% admitted to lacking the capacity to underpin AI models with precise, real-time data—an essential component for effective AI implementation.

The survey sampled 100 Australian decision-makers responsible for overseeing data solutions and integration at companies with annual revenues exceeding USD $300 million. Respondents were required to have a comprehensive understanding of their organisations' data practices and the authority in selecting data platforms.

The findings point to a significant emphasis on data integration and liquidity, but they also highlight existing challenges that could hamper AI deployment if unaddressed. While companies invest in firewalls and data recovery, the study suggests more attention is needed for incident response planning to mitigate potential security risks.