Eight in 10 Australian executives say their organizations are dependent on AI to function effectively, and 96 percent say AI is becoming pervasive, according to Accenture Technology Vision 2022.

The report, compiled by Accenture and published this week, revealed that while Australian executives have embraced AI, most are concerned about security breaches and fraud affecting these systems.

In fact, 100 percent of Australian executives surveyed by Accenture said they were concerned at some level about deep fakes or disinformation attacks.

Mainly focused on the metaverse, the research revealed that most Australians had never heard of the metaverse or had heard the term but didn't know what it meant. This lack of knowledge is higher than the world average of 65 percent.

However, despite low awareness among the general public, 93 percent of Australian executives believe it will have a positive impact on their organizations, and 91 percent agree that the implementation of Web 3.0 over the next decade will fundamentally change the way businesses interact with users online.

"The next generation of the internet is unfolding and will usher in a new wave of digital transformation far greater than anything we've seen to date, transforming the way we all live and work," said Paul Doherty, group chief executive. for Technology at Accenture.

As part of the report, Accenture surveyed more than 4,600 business and technology leaders across 23 industries in 35 countries.

At this early stage, 71 percent of executives believe the metaverse will have a positive impact on their organization, and 42 percent believe it will be disruptive or transformative.

"As the line between people's physical and digital lives increasingly blurs, organizations have the opportunity and obligation now to build a responsible metauniverse – addressing issues such as trust, sustainability, personal safety, privacy, responsible access and use, diversity and more,” said Mr. Daugherty.

"The actions and choices they make today will set the stage for the future."

Maja Garatsa Djurdjevic

Maya's career in journalism spans more than a decade in finance, business and politics. Already an experienced editor and reporter in all elements of the financial services sector, before joining Momentum Media, Maya reported for several established news outlets in South East Europe, looking at key processes in post-conflict societies.