CCIWA Chief Economist
WA businesses are backing the adoption of AI and other technologies as they respond to higher costs and weak productivity.
CCIWA’s Business Confidence Survey shows WA businesses are set to drive innovation off the back of new technology in the next 12 months.
Two in every five businesses are adopting new technology (43%), while the same proportion are looking at improving their digital presence (43%) in the year ahead.
The artificial intelligence ‘chat bot’ ChatGPT, which is able to provide detailed written responses to a range of topics, is set to be adopted by one in five WA businesses (20%), with 10% having already done so. WA’s medium-sized businesses are especially keen on AI, with one in four (26%) adopting the technology, most widely seen among transport (36%), food services (30%) and professional services (25%) sectors.
Respondents cited using artificial intelligence to draft letters and communications, or to assist with marketing and social media tasks.
Alongside this change, three in every five businesses (59%) are upskilling their existing staff, while more than half (56%) are investing in training for new employees, including taking on more apprentices and trainees.
Businesses also said they are responding to changing environmental, social, and governance trends (16%) and improving their workplace diversity and inclusion (22%).
Our state and our nation must continue to seek new ways to increase productivity, as businesses tackle the challenge to decarbonise, and technology rapidly changes the workplace. It is critical State and Federal Governments support businesses in technology adoption and in protecting their businesses from cybersecurity and data privacy risks. CCIWA also encourages the State Government to continue digitising government services and reduce barriers to innovation, for example by piloting regulatory sandboxes in WA.